Based on the subversive reality show, Huoshi TV gives full play to the characteristics of low cost and high income, and at the same time has its own broadcast channels, which can completely get rid of the confinement of publicity and distribution. Pen Fun Pavilion wWw. ｂiquge。 info This is what has allowed Fire Lion TV to create such "crazy" results in just one year.

"Although the existing profits and profit margins are very strong, we still have to leave a considerable part of these funds for the development of the group itself. So it can't be completely used for acquisitions. Shirley Sandberg explained, and then she looked at Sid, "Sid, so I'm suggesting that we should issue corporate bonds to raise capital, rather than strictly running a zero-debt business." ”

"Well......" Sid fell silent with some hesitation.

Sid and Shirley (Sandberg) have discussed this issue many times, and this time in the face of a large amount of money acquisition, the problem is again in front of him.

In his previous life, as an entrepreneur on the other side of the ocean, he insisted on not borrowing to operate, which can be regarded as a very stubborn business habit of Sid. Because as long as you know a little bit of knowledge, ordinary enterprises on the other side of the ocean, without special relationships, want to raise funds from normal channels is almost impossible.

In addition, in his previous life, Sid also studied under Master Kazuo Inamori, the sage of RB's management, for him, who integrated the traditional business philosophy of Japanese style and Tang style, this "self-reliance" mode of thinking is almost deeply rooted in the bone marrow.

But if we want to expand in the record business this time, acquisitions of more than $1 billion are almost inevitable. Although the overall profit of the Fire Lion Group now seems to be barely enough to meet the acquisition, it is impossible to drain all the working capital.

Sid thought about it for a while, and finally spoke, "Then Shirley (Sandberg), you can give me some information about financing." ”

Seeing that Sid finally relented, Shirley Sandberg immediately curled the corners of her mouth happily: "Okay, no problem." ”

When it comes to corporate finance, there are four ways to do it.

The first is the so-called angel financing. This approach is specifically aimed at small businesses, like Apple in the early days and Facebook later, both of which raised money once or twice through individual or specialized investment funds before they really started to grow.

The second method is to go public, which most people are familiar with. It can be considered an extension of the former approach, opening up a certain share of the company's shares, and then buying and selling them on a large scale on the open market. The benefit of going public is, of course, the ability to quickly obtain a large amount of cash flow to grow the company.

Just like Pixar Studios a few years ago, they went public a week after the release of "Toy Story" and raised $140 million in funds in one fell swoop, which largely solved Pixar's funding shortage. It also made Jobs, who owns 80% of Pixar's shares, return to the ranks of billionaires in one fell swoop.

But the disadvantage of this method is also obvious, if the company's prospects are optimistic, under the influx of a large amount of capital, it is easy to dilute the founder's own shares, resulting in the loss of ownership of the company. For example, in the early days, Steve Jobs was fired from Apple, and later Eduardo Savirin, the CFO and co-founder of Facebook, was kicked out of the company by Mark Zuckerberg.

The third method is to take out loans. Generally, the enterprise applies for a loan to the bank, and the bank will set the interest rate and repayment period of the loan according to the business conditions of the enterprise and the value of the collateral.

Sid initially mortgaged the copyright of "The Da Vinci Code" to obtain start-up capital for the acquisition and formation of Fire Lion Pictures. And "historically" Marvel Studios also used all its superhero copyrights as collateral to borrow more than $500 million in start-up capital to build the later famous "Marvel Universe MCU".

And the last method is what Shirley [Sandberg] calls "corporate bonds".

As the name suggests, corporate bonds can be seen as the corporate version of state bonds. It can be understood that since the governments of the United States and the United Kingdom can issue bonds, then of course companies can also issue bonds.

However, unlike government bonds, the proportion of corporate bonds issued is directly linked to their market value. The larger the market capitalization, the more funds can be raised in the same proportion.

"What do you say about the percentage of bonds?" asked Sid.

"30 percent is relatively healthy. Shirley (Sandberg) said succinctly, "Disney has kept its debt ratio at about 30% all year round. ”

"What about market capitalization? Listed companies are very simple, just look at the stock price, but how do we evaluate a private company like ours?" Sid asked curiously.

"It is mainly evaluated by the banks that undertake our bond business, and generally such bonds will be undertaken by more than two banks. They will assess the market value of the company based on our operating conditions, financial situation and future prospects. ”

"Finally, the bank will issue bonds of the corresponding amount or amount according to our requirements. Shirley (Sandberg) jokingly continued, "I'll have good news for you, Sid." Now the Ministry of Finance has introduced a new policy, enterprises issue corporate bonds, and the interest amount of the bonds can be used to deduct taxes. ”

Sid raised his eyebrows in surprise: "In other words, even if we issue bonds, it is actually zero interest?"

"Not bad. Shirley Sandberg smiled and said, "It's like taking an interest-free loan and investing other people's money, so why not?"

Sid did not expect that the US imperialists would be so "heartbroken" at the level of corporate assistance.

"Okay, then let's preliminarily set a corporate bond with a market value of 20%. "As long as you put your mind to it, Sid will move fast.

Although this debt ratio is still very low, the profitability of the Fire Lion Group itself is also outstanding, and it is not due to the problem of shortage of funds.

So Shirley Sandberg nodded happily, "Well, in terms of the amount of bonds, I recommend that 1/4 of them use 3-year bonds, and the remaining 3/4 of them use 5-year bonds and half use 10-year bonds." ”

"As for the bank, Wells Fargo is sure, whether there is a need for other companies depends on the results of the subsequent evaluation. Shirley Sandberg said.

"Yes, no problem. Sid nodded in agreement, and then he casually flipped through the record label information that Barry Weiss had just distributed, "Neodymium?"

"Huh?" Shirley (Sandberg) and the others were blinded by Sid's sudden "Emperor exploded" words.

"Well, there's a 'neodymium record company' here?" said Sid, pointing to the information.

Shirley Sandberg, Barry Weiss, and others immediately looked through the information at hand.

"Well, this is Viking Virgin, Viking Records Virgin Record. Barry Weiss flipped to the corresponding number of pages and quickly explained, "This Viking record is the company of the Rolling Stones. ”

"The Rolling Stones!?" Sid looked at Barry Weiss in surprise. In terms of influence and status in the history of world music, the Rolling Stones are definitely the top existence that can be compared with Elvis Presley and Michael Jackson.

"Is it really the Rolling Stones?" asked Sid, rather excited.

"Uh...... The real Rolling Stones, indeed. Barry Weiss hesitated when he saw that his boss was interested in the acquisition for the first time, but he decided to tell the truth, "But the Rolling Stones only signed to Viking Records after 1992. So they only have the latest 5 records in Viking Records, and those that have been really popular in history are not in Viking Records. ”

Barry Weiss's words immediately calmed Sid, "Oh, I see. Sid touched his chin and narrowed his eyes for a moment.

I was a little disappointed that I didn't pick up a "big bargain", but the company didn't rely on these opportunistic things in the first place. On the contrary, Barry Weiss's attitude of daring to tell the truth made Sid change his opinion of him.

Although Sid has always chosen his subordinates based on ability, work ethic is definitely something more important than ability.

After all, Sid didn't want a Michael Eisner-like character under him, and now the dispute between the Disney family and Michael Eisner over Disney ownership is going to court, although Michael Eisner used his authority and influence to delay the case.

But this kind of scandal has long been spread in Hollywood's high-level circles.

"Let's talk about Viking records, Barry. Sid regained his composure and said.

"Okay. Barry Weiss nodded: "Viking Records was originally a subsidiary of the Virgin Group, the largest private company in the United Kingdom, or should I say, the earliest subsidiary. ”

"Just like Fire Lion Pictures is to Fire Lion Group, Viking Records was the first business founded by British entrepreneur Richard Branson. He then went on to found airlines, beverage companies, railroad companies, and this year he entered the telecommunications industry. ”

"In 1992, Virgin Atlantic was in financial crisis, and in order to raise funds, Richard Branson had to sell Virgin Records to EMI EMI Records. ”

"Oh, it turned out to be EMI Records. Although Sid is not familiar with the music industry, he has heard a little about EMI Baidai, the crane tail that has been at the bottom for 10,000 years.

Barry Weiss continued: "EMI Records is one of the top five record companies in the UK. Originally, the acquisition of Viking Records, which was also a British company, was to strengthen its own strength. ”

However, it backfired. In just a few years, not only did EMI Records not gain any benefits, but Viking Records also gradually languished, and it can be said that after 92 years, except for signing the Rolling Stones, nothing has been achieved. ”

"Oh, why?" asked Sid, tapping his chin.