For old guys like Murdoch and Lei Shidong, they definitely don't spend a penny!

This is a value that they have cultivated since childhood.

Besides, although Yahoo's market value has shrunk sharply after the bubble crisis, with the rise of Yahoo Japan, Yahoo's total market value has still climbed, and it is still a giant Internet company.

The current share price is $35 and the market capitalization is up to $50 billion.

News Corp. would have to spend $10 billion to eat up Yahoo's interactive entertainment business!

Yahoo Messenger is the world's fourth-largest social messaging software.

Will Murdoch really take down Yahoo at all costs?

This kind of old guy is definitely not as good as a young man in terms of the courage to spend money.

As long as Google sends a big order to Myspace and Murdoch sees the possibility of building a News Corp. network empire without buying Yahoo, then he will never spend this unjust money.

That's $10 billion!

News Corp. is currently in talks with Myspace's shareholders and management about a wholly owned acquisition.

The specific acquisition is still under negotiation, and the price is ...... That's between $500 million and $600 million.

The gap is too big!

Don is confident that as long as Google can participate in the layout, then it can easily divide the tripartite alliance of Microsoft, Time Warner and News Corporation.

News Corp., inevitably withdraw!

As for Microsoft and Time Warner...... There's no way Don can do it.

Microsoft urgently needs to complete the layout in the Internet era, and Yahoo's online services, search and advertising businesses are deeply coveted by Microsoft.

Not to mention Time Warner, AOL is almost a chicken rib. If there is no turning point and salvation, it can really only be divided and left to fend for itself.

The next step is to persuade Yahoo to resist the three-party acquisition.

Yahoo's current chairman, CEO Terry Messer, is from Hollywood.

Prior to that, he was the chairman and CEO of Warner Bros., and led Warner Bros. to Hollywood in the 90s.

Ten years ago, Warner was about the same momentum as New Universal's current Hollywood momentum.

By the time Terry Messer took over Yahoo, Yahoo's market capitalization had dropped to $10 billion.

Yahoo is now worth $50 billion, and Terry Messer owes a lot of money.

According to the reports submitted to the SEC at the beginning of the year by 386 S&P companies, the Associated Press provided annual earnings statistics for the CEOs of these companies after surveying and statistics.

Among them, there are many companies whose CEOs have low annual salaries.

For example, Terry Concedin, CEO of an apartment investment management company, has an annual salary of 0.

For example, Eric Schmidt, the CEO of Google, earns $1 a year.

For example, Apple's CEO Steve Jobs has an annual salary of $1.

There are very few people, and there are very few people.

Highest-Ranked ...... It's Yahoo CEO Terry Messer!

His annual salary in 2004 was as high as $70 million!

This is the difference between the founder, the majority shareholder, and the professional manager.

Yahoo doesn't have much of a historical mission for Terry Messer. His experience of being born in Hollywood will inevitably be marked with many Hollywood imprints.

Such as the lust for power!

For example, stubbornness for self-use!

For example, the pattern is not high!

In 2006, Terry Messer asked Yahoo to buy Mark Zuckerberg's Facebook for a sky-high price of $1 billion, but was rejected. You know, News Corp. acquired Myspace, the No. 1 in the industry, more than half a year ago, and it only cost $560 million.

Terry Messer's reaction at the time was not to continue to raise the offer, but to make an almost mocking statement: "I've never seen anyone in my life turn down a billion dollars." ”

These are all shortcomings that Don can take advantage of.

……

Allen's headquarters building is supposed to have been around for decades and looks a bit old-school.

The offices, meeting rooms, meeting rooms and dining rooms are all decorated with wood.

The surrounding walls are adorned with the work of carefully selected American painters, giving it an artistic touch and the style of an old-school entrepreneur.

However, in the sunny Sun Valley, the most surprising thing for Donn was not the architectural style and decoration concept, but the outdoor sports.

The current CEO of Allen, Heb Allen, was a member of the tennis team when he was in college at Yale. On behalf of the school, he has also participated in many national and international competitions, and has also achieved some results.

The style of playing hockey is very simple, but the amount of exercise is a bit large.

Old guys like Murdoch could only laugh and watch, admiring the heroic posture of many American business elites in the arena.

This game is sure to have great ratings if it is televised!

Including Don Walker, Bill Gates, Larry Page, Terry Messer and others, they all came off the court to participate in the game.

Herb Allen, the organizer, acted as a referee and commentator.

The competition of the bigwigs is not fierce, and the competitiveness is not strong, although they all wear masks, protective gear, and sportswear, but on the field, everyone is polite and shows a good demeanor.

Don is the youngest and has the best physical fitness, and he is still in a good mood when he plays a game with many business tycoons.

At the end of the break, Donn took off his protective gear and took the initiative to get together with Terry Messer.

Coincidentally, Bill Gates is also by his side.

Everyone came to Sun Valley this time, not to play on vacation, but for business negotiations.

The most important business negotiation at this Sun Valley meeting is the acquisition of Yahoo!

Once Microsoft, Time Warner, and News Corp reach a tripartite agreement to acquire Yahoo, the price of the deal will be at a premium...... I'm afraid it will reach $70 billion, or $80 billion!

"Bill, are you really going to buy Yahoo?" Don asked straight to the point, as if he was stunned.

Bill Gates was slightly stunned and said with a smile: "I remember...... New Universal and MSN are also partners. If MSN can integrate with some of Yahoo's businesses, it will deepen our relationship. ”

"That's for sure. Don nodded approvingly, but changed the conversation, "But to be honest, from a business point of view, I don't think the merger of Microsoft and Yahoo can be a win-win situation." ”

"Oh?"

Terry Messer couldn't help but ask.

The three of them held protective gear and walked to the sidelines, and Don said softly without changing his face: "The market share of Microsoft and Yahoo has been declining, and the merger cannot solve the problem of declining market share." ”

Bill Gates said: "We specifically calculated that if Microsoft and Yahoo merged, the new company would have a 30 percent share of the advertising market, compared to Google's 2 percent. ”

Google's current advertising business is not yet dominating the United States, and it is still necessary to wait until 2006 to complete the acquisition of Doubleclick.

Donn laughs: "If business can be calculated to draw conclusions, then entrepreneurs are mathematicians." ”

Immediately, he said with a solemn face: "Bill, I know your ambitions, but mergers and acquisitions can't change Microsoft's current situation." If a behemoth wants to turn around, it must not pull another behemoth, this is the basic principle of physics. If the merger does happen, Microsoft will only be able to do a good job of a portion of Yahoo's business, and other businesses with uncertain prospects will inevitably be closed or sold. By then, the new company with 90,000 employees will be on its toes. ”

Bill Gates laughed and said, "And Time Warner and News Corp." Donn, the words of a competitor...... Sometimes it's not always credible. ”

"Competitors? Is there any here?" Don looked blank, "New Universal and MSN are partners, as well as partners in Microsoft's HD-DVD business. Not to mention Yahoo, Yahoo's online music and online picture business are all licensed by us. ”

Bill Gates was a little speechless at Donn's pretending to be stupid.

Terry Messer suddenly spoke, "Rupert spoke to me. News Corp. will not be involved in the short term. ”

"Huh?"

Bill Gates was stunned.

Don almost burst out laughing, coughed lightly, and continued: "Microsoft's strong position in the software field does not help it gain ground in the Internet market. Moreover, Yahoo's corporate culture is quite different from Microsoft's. However, I also agree with many analysts that Microsoft and Yahoo do have the potential to merge. However, it can't be a spin-off of Yahoo, but a spin-off of Microsoft. Spinning off Microsoft's Internet business and merging it into Yahoo is more successful. Microsoft continues to dominate the software space. ”

Bill Gates almost vomited blood.

Terry Messer couldn't help but laugh and said, "Interesting suggestion, I think it's doable!"

Obviously, he can't relinquish control of Yahoo without a 100 percent reason.

Murdoch's backlash, Bill Gates's helplessness, and Terry Messer's handling all made Donn see it.

Almost!

The more thoughts, the less likely it is to cooperate!

In a short period of time, it was no longer possible for the parties to reach an agreement.

This kind of super M&A, the normal business logic, has to go through many years of operation.

In the previous life, until 2008, Microsoft, Time Warner, and News Corp. were still rumored to have various merger scandals with Yahoo.

However, Yahoo has always refused on the grounds that the other party has grossly undervalued Yahoo.

It wasn't until many years later that Yahoo really couldn't survive anymore, so it split the shares of Yahoo Japan, Alibaba and other investment projects and established a holding company called "Ali Ta Dad". The remaining Yahoo main business was sold in a package for $4.8 billion.

The empire of 100 billion dollars collapsed.

To be honest, the current Yahoo, Don also covets it.

It is the world's largest portal, the world's second largest search engine, the world's third largest Internet advertising company, the world's fourth largest chat social platform, and the world's largest online music service provider......

Yahoo has a lot of projects.

Many projects are very optimistic, and if they are developed appropriately, they will have great market potential.

However, Yahoo's founders and major shareholders are more stubborn.

That's a good thing.

As long as Yahoo does not split up and continues to follow the process of birth, old age, sickness and death in the previous life, then it will still be the best era for New Universal!

。 vertex