Ferro asked, "What proposal?"

Mark said: "Warner is planning to enter China in a big way, we are interested in the shares of Yali in your hands, why not swap the shares?"

This is Mark's wishful thinking, if he uses some chicken ribs and outdated industries in exchange for Yari's shares, he will wake up laughing in his dreams, and gnaw this big piece of fat for Time Warner, and he will be as stable as Mount Tai.

As for why not let the Family Foundation eat it, it's because the Foundation has eaten enough fat that it's time to give it to others, and strong allies can make themselves stronger.

In August 2005, Yahoo exchanged $1 billion plus Yahoo China for a 39% stake in Alibaba Group. Alibaba was fledgling and in a difficult situation at the time, and Yahoo injected capital to solve Ma Yun's urgent need. Because of this financing, Ma Yun has obtained a characteristic that he himself mentioned: he is good at fooling. "To be able to flicker a billion, this is ability.

According to the prior agreement, in October 2010, the five-year treaty signed between Ali and Yahoo expired. Under the terms of the treaty, Yahoo will add one seat to the Alibaba Group's board of directors from October 2010, with Yahoo and Alibaba management holding two seats, in addition to increasing Yahoo's voting power from 35 percent to 39 percent. This means that if Yahoo makes a move, it will seize control of the group.

In the face of the difficult period of transformation, Yang Zhiyuan had the intention to annex Yali and help the company transform, but was rejected by the management of the company controlled by Ma Yun.

Although Yahoo entered the Chinese market as early as 1999, Yahoo Huaxia has done little in view of the previous policy restrictions on foreign investment in Internet value-added services.

It can be said that under the rule of Zhou Hongyi, the former president of Yahoo Huaxia, Yahoo Huaxia has built a decent framework between the portal and the search website by launching a search network, creating an "email alliance", and grabbing the bidding ranking.

In 2004, the revenue of Yahoo Huaxia was about 150 million to 200 million yuan, accounting for about 2/3 of the total revenue, Yahoo Huaxia's annual online advertising revenue was about 50 million yuan, and Yahoo China's revenue in 2004 was about 200 million to 250 million yuan.

According to the statistics of iResearch, in the search market, the market share of the entire Yahoo system is 22.72%, ranking second only to Baidu and ahead of Google, while in the paid search market, Yahoo Huaxia has a market share of 40%, ranking first in the market.

But Zhou didn't have time to really make up for the shortcomings of the content, NetEase's stock price soared, and Baidu's market tour took the lead, and Yahoo Huaxia was wiped out in an instant. However, because it has been oscillating between portal and search, Yahoo Huaxia has not really made full use of the advantages of global information resources and has made achievements in the portal business.

In an interview with the media, Zhou Hongyi publicly hinted that one of Yahoo Huaxia's biggest mistakes was spending six months arguing about whether to develop an independent search engine in Huaxia.

Faced with this dilemma, they decided to invest in Yali in the hope of breaking through, and now, with Alibaba as a local ally, Yahoo Huaxia's painstakingly operated gateway has finally found a red line: e-commerce. As a result, paid search, online advertising, community services, and more will revolve around e-commerce and form new profit models.

Yahoo's status is much higher than that of Yali, and the alliance between the two sides will make enemies on all sides. eBay from the C2C field, Google in the field of e-commerce search, Tencent using community services to enter the C2C business, and Baidu, which has just been listed, will become strong competitors in the Yariba system.

Whether or not the integration pains can end as soon as possible and create synergies across the business lines will determine the success or failure of Yahoo and its largest single shareholder, Yahoo, in the years to come.

However, Merrill Lynch lowered its earnings forecast for Yahoo in 2005 and 2006 because it believes that the acquisition of Alibaba shares will dilute Yahoo's earnings per share to some extent. Yahoo announced that it will exchange $1 billion in cash and its China business for a 40% stake (35% voting rights) in Alibaba, thus becoming the largest shareholder of Alibaba.

"Given Baidu's success on the Nasdaq and Google's stake in Baidu, Yahoo must also do something," Merrill Lynch said. Merrill Lynch lowered Yahoo's 2005 earnings per share to 54 cents from 55 cents and Yahoo's 2006 earnings per share to 64 cents from 68 cents.

Merrill Lynch also said: "Yahoo is well aware that the acquisition will result in diluted earnings per share, but the company is willing to accept this as long as the acquisition decision is made correctly." Merrill Lynch's rating on Yahoo stock remains unchanged and remains a "buy" rating, so the investment community is neutral.

Fortunately, the ability of Ma Yun and his team is quite outstanding, in the fierce competitive environment, tenaciously survived, and in the face of major shareholders who wanted to cut leeks, of course they did not do it.

Yahoo's board of directors is quite a headache, but they have plans to reorganize Yahoo's board of directors and complete control of the company when their first five-year contract expires next year.

Yahoo's domestic business hit a bottleneck and both Yahoo and Huaxia Yahoo are thriving, and they decided to use overseas markets to make up for the local inconsistency.

But the local has always been the local, and now this change is very surprising to them, but it also offers the possibility to protect local interests at the expense of overseas interests.

Ferro was as excited as he saw his first girlfriend.

But the devil of Mark is still tempting: "If it is an equity swap, we can convert it at the market price." ”

The stake of Times Publishing Group is better than that of Yali, which has not yet gone public in Mi, and Yahoo originally hoped to buy the company through bank financing, and now the other party is willing to exchange their "non-core" industries, which is the best.

This offer is the equivalent of a beautiful woman saying to a pervert, "Come here." ”

In the eyes of the world and many people, Yali's equity is quite chicken, it is Yahoo's "non-core" industry, Yang Zhiyuan exchanged one billion US dollars and Yahoo Huaxia for this part of the equity, no one can say whether it is good or bad, but according to Huaxia Wang Ma Yun said that this part of the equity is worth four billion US dollars, but if it is sold, there must be no buyer, they estimate that this is worth four billion US dollars, right?

Fei Luo said: "This is a major decision, I have to go back and discuss with Yang, but you have to believe in my sincerity, I will reply to you as soon as possible." ”

Mark held his hand and sighed, "I'm just moved by your sincerity!"

Barry coughed dryly, interrupting the two men who were eager to make a promise, and he said, "Will the board agree?"

Mark said to Ferro, who had a worried look on his face, "I'll get the guys on the board of directors right." ”

Fei Luo said: "I'll go back immediately." ”

When Ferro left, Mark sneered: "Second goods, dare to be the boss at this level?

"We'll wait for them to reply, but I think before we do, we should let the board out a little bit so that we can look better," Barry said. ”

Mark said: "A group of guys who have not achieved enough things and have more than enough failures, they want to make a lot of money, but they are reluctant to take risks, the money in this world, it is so easy to earn, if you want to get rich, listen to me." ”

Barry complimented: "Yes, the people on the board of directors are blind, I don't know that Mark has a unique vision, if you want to achieve great things, you have to take risks, and dare to take risks to achieve great things." ”

Mark said proudly: "Barry, your ability is not below Egger, you can become another Egger!"

Egger is a legend in Hollywood, MM can quickly become a contemporary media empire, relying on Mark's unparalleled divine power, and second, relying on Egger's super integration management ability, and joining MM, so that Egger can achieve his life ideals, and become one of the richest people in Hollywood.

Barry couldn't close his mouth with a smile and said, "It's all up to you to take care of Mark." ”

Mark said: "Six years ago I was just a junior high school student with nothing, a twenty-year-old junior high school student, so many shames? Now I have everything I should have, annex Marvel, annex MGM Columbia, take any risks? But I succeeded, is this my culmination? I can tell you, this is just the beginning." ”

Barry said: "Willing to cooperate with Mark, never betray!"

Mark patted Barry on the shoulder and said, "We are allies, allies with shared interests." ”

As soon as Ferro left the Time Warner Tower, he immediately called his old partner: "Young! Mark is a second-in-law, and his head is pinched by the door." ”

Yang Zhiyuan said: "What do you say?"

Fei Luo said proudly: "This guy with a brain in the water, I was fooled by a few words, so he agreed to exchange the Times Publishing Group for the shares of Yaribaba, this guy has a brain in the water, and he is still the boss at this level, and he is sold and helps the people to make money." ”

Yang Zhiyuan said: "All industries are changed?"

Fei Luo said: "In addition to "Time", all other changes are made, including "Fortune", "Life", and "Sports Illustrated". ”

Yang Zhiyuan was shocked and said, "How is this possible?" This part of the assets is worth nearly four billion US dollars, which can be cashed out, and Yali's equity is worth three billion in name, but those who have been mixed with Internet technology companies know how big its bubble is, and they are afraid that it will not be able to change even one billion, and Yahoo has a market value of more than 500 billion yuan at its peak? Now there is not a lot of meat, and there are also many pieces of dingding, but they are only worth more than 10 billion, and he said in a deep voice: "You come back as fast as possible and explain clearly what is going on." ”

Yahoo took a fancy to Times Publishing Group, of course, it was not a matter of pat on the head that Ferro decided, this was the opinion of several of their major shareholders, and let the more stupid and honest Ferro test it, which was also one of the plans, but no one could have imagined that the result would be so smooth and amazing.

They want to raise billions of dollars to win the Times Publishing Group, but who knows that the other party's report is so low that it is outrageously low, so low that they can't refuse.