Chapter 724: A 182-year-old newspaper
"Boss, the Independent News Media Group has basically agreed to sell its British newspapers DU Newspaper and Sunday Newspaper to you for a symbolic price of 1 pound (about $1.5), as well as the DU Newspaper website... ”
Andy slouched back in the boss's chair, listening to the debriefing from the negotiation team that had gone to Fleet Street to find a takeover target, his fingers gently spinning back and forth on the rim of his coffee cup.
"Condition. ”
Of course, there is no such thing as a free lunch in this world, and you must know that the "Newsweek" he bought for one dollar had a debt of nearly $200 million alone, not to mention the loss of money, and no one dares to take advantage of this kind of cheapness.
In this way, after Andy bought Newsweek for one dollar and announced the news, the stock price of the original owner "Washington Post" rose by more than 10 percent on the same day, and the market is very optimistic about the future of the Post Group after getting rid of this burden.
Andy brought this mode of operation to the United Kingdom, I have to say that he is still very fond of this acquisition method, the risk is to the extent of the initial period of capital investment and the future future of the newspaper, after all, the downhill road can not be stopped, this is not Andy can control, you must know that the rapid development of new media such as TV and the Internet, resulting in a significant shrinkage of the market share of paper media is an indisputable reality.
"The Irish DU News & Media Group assumed the debts and staff salaries owed by the newspaper which was currently in a loss-making state, and the £1 acquisition was conditional on a £5 million investment in INM and a guarantee that the contract with INM would not be terminated for five years... ”
"Whew-"
Andy couldn't help but sneer, the upturned arc of the corners of his mouth was obviously raised, full of mockery, "Let them continue to dream!"
Hearing the cold ridicule of the big boss, the subordinate in charge of the negotiation couldn't help but nod and said: "Based on the other party's rude request, we have made a notice to suspend the negotiation, and at the same time, we have also announced the progress of the negotiation to prevent the other party from using this acquisition to raise the stock price." ”
"Well, it's well done, I like to take advantage of others, but the thing I hate the most is the thing that I hate the most. Let's hang them first, hehe, the loss of more than 12 million pounds a year will make them see the reality clearly, give them a chance to throw off the burden, and want to take advantage of this to bite me, it's really greedy!"
Andy blinked, took a leisurely sip of coffee, and didn't care about his own words, which made the group of subordinates sitting in front of him look at each other with strange expressions.
For their big boss's acquisition idea, their group of team members responsible for the acquisition is very clear, many acquisition battles, but also let them understand the temperament of the big boss, know what kind of conditions are acceptable, what kind of bottom line can not be touched, so when INM asked for investment, but also five years of non-withdrawal of the requirements of an export, the person in charge of the negotiation, directly packed up the documents, terminated the negotiation, in the INM group of people in the stunned expression, with people directly left the negotiation venue.
The people of the INM group are obviously confused, and they really think that they belong to them, and they are willing to help them get rid of their burdens, not only are they not grateful, but they also want to make a profit, which is really blind.
"Jarese, how's your situation going over there?" asked Andy with a smile as he looked at the leader on the left hand side of his desk.
"Our negotiations with the Daily Mail Group have been relatively smooth, and the 182-year-old British Standard Evening is currently the only nationally distributed evening newspaper in the UK that needs to be paid for, due to a loss of about £10 million a year, plus the gradual loss of readers since the emergence of the "London Evening News" and "London Light" in London in 2006, the business has become increasingly difficult.
The Daily Mail was very happy with our presence and held 75.1% of the shares and were willing to pay a low price of £1 million, but the remaining 24.9% was held by The Associated Newspaper and rejected our £300,000 offer. ”
Andy couldn't help frowning slightly, and asked, "What is the situation with this United Newspaper?"
"Last year, the London Lights, which was published at the same time as Murdoch's London Evening News, was owned by the United Newspapers, and they all took the regional Xing evening route. Jeris explained.
"Well, is it another shareholder who refuses to let go? Hehe, it's still a competitor. Andy nodded, his eyes flashing with a sparkle and chuckling to himself.
"Do you have some specific information about the Evening Standard newspaper?"
"Although it has a long history, the financial situation is not complicated, but the newspaper department is bloated, and if the boss decides to take over, reform is imperative, and the layoffs are the first to save costs and reduce the newspaper's losses. ”
Andy's eyes narrowed slightly, and he just smiled at his subordinates' suggestions, noncommittal, but no one knew, his brain had been spinning rapidly, and a clearer and clearer plan appeared in his mind, and finally took shape, and he couldn't help but say secretly in his heart, "Isn't it 1 million pounds, what if it is a waste, once the plan is successful, it may not be able to stir up Fleet Street, eliminate other opponents, and become a unicorn again." ”
"Jerrys, in the afternoon, you will sign the acquisition agreement with the Daily Mail Group, submit the acquisition application to the British antitrust agency, and let the Daily Mail Group find a way to complete the trial as soon as possible, not to mention that they can't even do this thing. Andy sat up straight, his expression becoming serious.
You must know that he bought newspapers in the UK, not as a business, in order to speak and influence, the credibility of the British Evening Standard and its historical position in British newspapers that have survived for 182 years are undoubted, although sales have shrunk to the point of 250,000 copies a day, but it is undoubtedly a good experimental subject, even if it will make the entire Fleet Street curse, but will he care?
After the two acquisition teams left, Andy dangled in the boss's chair and looked at the somewhat gray London sky, "It looks like we have a few more days to stay." ”
In the afternoon of the same day, Jerres signed the acquisition agreement on behalf of Andy and the Daily Mail Group, and Andy submitted the acquisition application to the British antitrust agency on the same day, with the help of the Daily Mail Group, to speed up the trial.
Two days later, in the morning, the home of British newspapers famously visited Fleet Street.
Fleet Street is now more associated with the judiciary, with more courts and law firms on and around the street, almost all of the newspapers that once housed or near Fleet Street have relocated, and the 182-year-old Evening Standard newspaper has not chosen to leave.
A historic granite trapezoidal corner building near the main road, with a two-metre-wide five-storey classical European building with a red wooden arch on the front, is home to the Evening Standard newspaper.
In the hall of the Standard Evening News, Andy and the representatives of the Daily Mail were witnessed by the CEO of the United Newspaper and many reporters, and carried out the final acquisition process.
Andy did not choose to let the reporters ask questions, but chose to make his voice official in London for the first time.
"The Evening Standard, founded at the end of the eighteenth century and with a history of nearly two hundred years, has witnessed not only the rise and fall of the British Empire, but also the American Civil War and two world wars.
It is aimed at the British middle class, and it is also quite insightful in the disparaging of current affairs, using few words and slang, and for many foreigners, it can also be used as a teaching material to improve English.
I am proud to own this 182-year-old newspaper, and we will see a series of reforms and innovations to strengthen the position and influence of Standard Newspaper in London, which will continue to follow the middle-class line, keep it flat and not spill blood, let alone use thriller headlines to attract attention... “
After Andy made a brief and formal speech, he left the press conference amid a flash of lights and all kinds of shouting questions on the scene, and led by the general manager of Standard Newspaper, Mulins, led by his own team, the former management of Standard Newspaper and the representative of United Newspaper, walked to the conference room on the fourth floor.