After the equity deal negotiations failed, representatives of Sony and Panasonic did not leave. Originally, this was expected by the two companies.

Lin Qi is not so easy and will sell his high-quality assets.

Even though Xinfei Electronics is now under antitrust investigation, this is a symbol of the depth of its moat.

If it weren't for the CD-ROM and VCD businesses, they would not have been targeted by the anti-monopoly law if they were invincible in the computer optical drive market and the home audio and video market respectively.

It is precisely because this series of related patents represents a market of tens of billions of dollars that Sony and Panasonic very much want to enter this market.

Of course, it's okay to wait until the patent expires, but, crucially, the two companies can't wait!

Moreover, Xinfei Electronic Technology Co., Ltd. is constantly revising new patent standards. Even if the initial patent expires in a few years, the updated technology will allow Xinfei Electronic Technology to continue to occupy an absolute leading position in the optical disk storage market.

Therefore, when it comes to the issue of technology licensing, Lin Qi will compete with the two companies.

At the beginning, Lin Qishi started by asking for CD-ROM optical drive and VCD patent authorization, and charging 5% of the retail price for each machine as the patent fee of Xinfei Electronics. For $300 per VCD, a patent fee of $15 will be charged.

This harsh patent fee made the two companies have huge objections, and after that, it was the bargaining stage.

After more than a week of negotiations, it was decided that Sony and Panasonic would pay $250 million in patent fees in advance as a stepping stone to obtain patent licenses related to CD-ROM and VCD.

In addition, the patent royalty fee has dropped to 2% of the price of the whole machine. This patent fee is not too much. The $300 machine is also only charged $6 for the patent.

Of course, if Xinfei sells VCDs by itself, the profit per unit is definitely more than $6. However, in order to remove the definition of "monopoly", it is also normal for more manufacturers to produce VCDs and CD-ROMs.

And after Lin Qi signed patent licensing agreements with Sony and Panasonic.

Soon after, Philips and Sony announced that Philips would continue to sell 12.5% of Xinfei Electronic Technology Co., Ltd. shares to Sony for $5 billion.

As a result, Sony increased its shareholding ratio to 20% and became the second largest shareholder of Xinfei Electronic Technology Co., Ltd. The shares of Xinfei Electronic Technology Co., Ltd. held by Philips Company are only 7.5%, retiring to the position of the fourth shareholder.

As for Panasonic, it also chose to increase its holdings of some shares, increasing its equity ratio to 7.9%, ranking third.

In other words, regardless of Lin Qi's attitude, Philips is making a big stride, while Japanese companies are quickly seizing the position of major shareholders. Although, now Sony and Panasonic together hold about 28% of the shares of Xinfei Electronic Technology Company, which is not enough to threaten the controlling shareholder position of nearly 41% of Xinchuang Electronics.

However, this gap is already small. If Philips continues to transfer more shares to Japanese companies, then Japanese companies will increase their stake to 35.5%!

And why are Sony and Panasonic so rich? Lin Qi naturally understands that it is not the profits of the two companies that can support such a large-scale investment, but the fact that large Japanese enterprises can easily obtain huge amounts of financing in the Japanese financial industry.

It is precisely with the support of the Japanese banking community that these Japanese companies are now very tyrants.

Of course, five of Japan's top 10 banks went bankrupt later, which has a lot to do with the blind lending of loans to Japanese companies in this era.

……

"Mr. Lin, you see I found something interesting...... Sony is really rich, I really don't know where this money came from, billions of dollars and billions of dollars are smashed, it's like cheating, not only want to buy the shares of Xinfei Electronics Company, but also brewing the acquisition of the film and television and music companies under the Columbia Group!" After Lin Qi signed a patent cooperation with two Japanese companies, he couldn't help but be very curious about Sony, so he specially asked Xiao Xiao to investigate Sony's recent developments.

After checking it, I found that Sony's painting style in this era is - buy, buy, buy...... Of course, this is the consistent style of Japanese companies in this era.

A well-known company like Sony has a high bank credit line and great ambitions, and is willing to borrow money for mergers and acquisitions. So, it's the best of them.

In the 21st century, the style of painting has become that of selling and selling! Japanese companies have not only continued to sell off their overseas assets, but also many of their local brands and industries have been cut down......

To put it simply, it is to repay historical debts, regardless of the gains and losses of investment in history, and later, after the tide recedes, it is found that many investment projects are actually swimming naked.

"Sony's profits are naturally not so much, but the Japanese banking industry is panicking with a lot of money now!" Lin Qi said with a smile, "You see, the biggest bank in the world now is not the United States, nor is it a European old enterprise, but those banks in Japan." However, those banks in Japan basically have no technical content, and they are completely centered around Japan's policy, constantly low-interest people's deposits, and then, at a cheaper loan interest rate than the international one, to lend to Japanese companies. In the early days, Japanese companies still used money to research technology and improve production. Now, all that's left is money, buy, buy, buy!"

"It's good to be rich!" Xiao Xiao said with emotion, "If only the banks in Hong Kong and China were rich, then it would be nice to have money!"

"Even if the domestic economy grows in the future and the people's savings rate is high, we must learn from Japan's lessons. As for high-risk and uncertain businesses, it is necessary to let the capital that has money in the society, such as venture capital, take risks and try it. If the bank is doing venture capital business, it will definitely mislead the country and the people!" Lin Qi said with a smile.

Later generations of fools raised the high threshold for bank loans, and ridiculed banks for not daring to lend to start-up companies. But...... Japan's decades of stagnation have emboldened banks to give low-interest loans to a bunch of non-profit-generating companies without discrimination. Encourage those enterprises, spend lavishly, and will not be budget-conscious. Originally, the project that may be worth 100 million yuan was acquired by some companies with more money and burned hands, investing 500 million or even 1 billion yuan.

To put it simply, mergers and acquisitions are the most common means of damaging the long-term interests of an enterprise, and the vast majority of mergers and acquisitions generate a large number of virtual "goodwill assets", which seriously damages the interests of shareholders. However, in the midst of optimism about the future, many people do not care.

The so-called goodwill, that is, a company worth 100 million yuan, was acquired by a giant for 1 billion. Then, 900 million non-existent assets are included in the statement in the form of goodwill. That is, to invest 1 billion to acquire a company, and the temporary statistics in the report are also 1 billion. However, in the future, with the development of time, the value of goodwill will continue to depreciate, that is, in the long run, 1 billion expensive mergers and acquisitions will produce a loss of 900 million yuan. After all, sooner or later, goodwill will be cleared, and it will only be a temporary fool to investors. The enterprise with assets of 100 million yuan, even if it earns 900 million yuan in the future, fills the hole in the formation of goodwill before, but ...... The scale has grown tenfold, and investors have just recovered their costs!

Therefore, Lin Qi generally doesn't like that kind of merger and acquisition...... Of course, a company like Columbia, if sold at a premium, is still worth buying. Because, for such a company, the premium will not be too outrageous, and at the same time, for entertainment giants who are interested in using Hollywood's brand influence to expand the entertainment industry to the world, the acquisition of Columbia Pictures, even if it is a premium, can also profit through synergies in the future!

Although Sony later made a lot of stupid investments, in the entertainment industry, Sony's investments rarely missed. Music, movies, games, anime, ...... These entertainment sections were later refactored by Sony. It was originally a hardware company of Sony, but the hardware copyright was constantly being sold, and the remaining core assets gradually became entertainment content.

It can be seen that the cultural and entertainment industry will not only not decline in the next few decades, but also have a great future. In particular, in the layout of the cultural industry in the future, film and television companies are not simply film and television, and music companies cannot simply make music. Publishing companies can't just do publishing, and game companies can't just make games.

If you only specialize in one field, it is difficult to achieve a big picture in the field of culture. And those super giants, such as Disney, Warner, Tencent, Sony and other companies, are basically operating in the whole industry chain, including film and television, music, publishing, and games, and the transformation of IP in major fields can have stronger IP competitiveness.

Historically, Sony's choice to acquire Colombia has been carefully selected, and Columbia is the only major U.S. studio that owns the rights to all 2,700 stock films. Columbia was founded in 1924 by the Coen brothers from the Eastern District of New York.

In the beginning, Columbia's small studios thrived by making Westerns and comedy films, and remained profitable even during the Great Depression in the United States. Over the course of more than 60 years, the Coen Brothers have attracted a large number of talented directors and created many masterpieces for Colombia: "One Night" starring Frank Capra, "The King of the World" starring Robert Rosen, "Lawrence of Arabia" and "Bridge on the River Kwai" by David Lean, and Steven Spielberg's "Close Encounters of the Third Kind", etc., which have received good reviews after their release. Although the film inventory is not the largest in Hollywood, Colombia has twelve Oscar-winning films and is the best studio of the year. In addition, it is a leader in the television industry, with 260 TV series with a total of 23,000 episodes, including "I Dream of Jenny", "Gidgate", "Naughty Man" and "Danger Man Dennis".

Sony invested in Columbia and did not get much benefit at first. However, it was with the influence of Colombia that Sony Music was promoted to the world. Subsequently, because of the IP popularity of "Spider-Man", Sony became a giant in the field of film and television.

Well, even the films in the Chinese-speaking market, such as "Crouching Tiger, Hidden Dragon", "Big Shot", "Kung Fu", "Yangtze River No. 7" and other acclaimed blockbusters, have investment from Colombia and Sony.

After the global dominance of film, television and music, it has brought a lot of IP resources to Sony's game business. At the same time, the music sector can provide original music for film and television, games and other businesses.

After becoming a leader in all major fields, Sony has become the most prolific giant in the Japanese animation industry with its cross-industry advantages in the era when the Japanese animation industry is constantly clamoring for "industry pills".

Various cultural industries complement each other to form an ecological chain, which is definitely more stable and has the ability to export than a single cultural industry chain.

And after Lin Qi remembered Sony's layout of Hollywood companies, he thought about it and decided to start cutting off Hu!

After spending a lot of money on the stock purchase of Xinfei Electronics, Sony estimates that the funds used to acquire Columbia Pictures will not be so abundant.

Lin Qi's new venture electronics group, compared with Sony, has much larger assets. Even if there is no strong bank syndicate behind it, it should not be a problem to acquire Columbia Pictures with its own cash reserves alone.

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