Chapter 151 is far from enough
AMC is the second largest cinema chain in North America, with theaters in the United Kingdom, France, Hong Kong and other regions in addition to the United States and Canada. Pen~fun~Gewww.biquge.infoAMC opened its first movie theater in the United States in 1920, and it has a history of 92 years and is a household name in the United States.
AMC-owned theaters are concentrated in the heart of large North American cities, with 23 of the top 50 highest-grossing theaters in North America. In addition to the introduction of the multi-hall concept for the first time, there are many firsts in film history. For example, if the armrests are adjustable, the armrests will be lifted to become a couple's seat; A cup holder is set on the armrest to make it easier for the audience to place their drinks.
Compared with the larger, but more small theaters of the Imperial Cinema Line, and the Carmichael Cinema Line, which has many theaters in South America, although AMC has acquired theaters in the United States in recent years, resulting in losses for three consecutive years, the company's assets are still relatively high-quality.
In the previous life, Wanda acquired AMC, mainly for this reason, AMC was the world's largest 3D theater chain, with more IMAX screens and 3D screens than Imperial Theaters.
It is clear to AMC that the main reason for Zhou You's acquisition of AMC is not for investment, but for tax avoidance. Otherwise, the listing of Google and Tencent will bring billions of dollars in cash income to Zhouyou, and according to the 35 percent tax rate, Zhouyou will have to pay more than one billion dollars in taxes. As long as you are a normal person, you will not do this.
Traveling around is not short of this money to spend, through consumption and investment, to keep this money in the United States, and at the same time to avoid paying expensive taxes, is a choice that every rich person will make.
Therefore, their requirements in terms of quotation are relatively high, and the premium of the entire AMC company exceeds one hundred and four percent, and the price can no longer be negotiated.
AMC now has total assets of about $2.2 billion, foreign debt of nearly $500 million, and net assets of about a little more than $1.7 billion, but AMC's shareholders insist on asking for $2.2 billion while taking on all the debt.
This price is about one billion lower than the price of Wanda's acquisition, not because of the conscience of shareholders, but because the current theaters have not been upgraded, and the IMAX and 3D theater renovation since 2009 has cost a lot of money.
Zhou You took a fancy to AMC, the main reason is that AMC's theaters are in big cities, the location is better, and the investment return period will be faster if it is changed to IMAX theaters in the future.
In 2003, AMC had fewer than 200 million moviegoers and a total revenue of nearly $2.3 billion. Among them, about 66 percent of the box office revenue, about 26 percent of the franchise revenue, and 8 percent of the advertising revenue.
This income is still relatively healthy, and their losses are mainly due to the investment in some newly acquired theaters, which has lowered the profits of theaters. If these investments are not counted, AMC's annual investment can bring about 10% of the profit.
Because Zhou You is to avoid taxes, Zhou You doesn't care that their offer is a little higher, and the negotiations with the shareholders are going very smoothly. However, there are two aspects of investing in industry in the United States. One is an industry organization and the other is a trade union organization.
When the tour arrived at the AMC headquarters on Paula Ion 4th Avenue in the metropolitan area, he saw the demonstrators arranged by the two organizations holding signs in protest at the entrance of the headquarters.
There were not many people, about forty people, and they also kept very calm, just holding signs and sitting in opposite the gate, when the traveling car arrived, they swarmed up, shouted a few words around the car, and when the traveling car stopped, they stood a few meters away, without any anger and scolding.
Even the signs in their hands did not show any extreme protests and insults, and everything was very calm.
As soon as the general manager of the company, Gree Lopez, who greeted Zhou You at the gate, said apologetically: "I'm sorry, Mr. Zhou, they didn't bother you, right?" ”
Lopez knew from his name that he was a Hispanic-American, with a square face that looked more majestic and a burly build, somewhat like a boxer.
Zhou You shook his hand and said, "I know that this is American culture, and I am honored to welcome them." ”
It's true that Americans just do protests, they have all kinds of guilds, and they like to organize some people to protest no matter what.
A lot of the time, they're not against a decision, they're just trying to put a little pressure on it.
The most protest was in Shimizu City, where there was a period of time when there was a flood of seagulls, and guano was as hard as rain, and the local government decided to play bird-repellent music for half an hour every morning and evening.
As a result, five or six organizations, such as animal protection organizations, environmental protection organizations, citizen interest protection organizations, and tourism associations, have been fighting against me and I have been protesting against you every day. In fact, when they were still making trouble, the seagulls had already migrated, and they didn't know why, so they kept making trouble.
Seeing that Zhou You was generous and his attitude was relatively kind, everyone who greeted him laughed and welcomed Zhou You into the company's conference room.
Although it is the home of AMC, because the negotiation team is also here, there are a few more people in Zhou You than AMC.
Zhou You first listened to the progress of the negotiations reported by the two sides, and then mainly talked about the differences encountered now, and finally waited for Zhou You to make a decision.
At present, the main conflict between the two parties is focused on the independent management of AMC's management after the acquisition.
The U.S. market claims to be open, but in fact it is very conservative, their threshold seems not high, but there are many restrictions, if you are not familiar with their rules, even if you come in, you will find that your hands and feet are tied.
To give a very simple example, Zhou You is now wholly buying AMC, but it does not mean that he can say everything, and even he may not even be able to control the power in his own hands.
This is strange in the mainland, but in the United States, it is normal. Because U.S. corporate law provides for the protection of the rights of workers and management, many policies do not favor large shareholders.
Just like mainland companies, major shareholders or founders like to be CEOs because they want to take the power into their own hands. In the United States, however, they prefer to give up this important position to professional managers, and this is the difference between the two sides.
Since it is to avoid taxes, Zhou You doesn't care about price, and of course he doesn't care about power. Of course, the more important reason is that history has proven that their management is doing a good job.
What's more, the comprehensive improvement of theaters in the cinema chain began in 2009, and there are still five years to go. With this five-year transition period, Zhou You is also confident that he will take the power into his own hands.
Therefore, Zhou You also made a lot of concessions, both in terms of company decision-making and employee welfare, which made AMC management and trade union organizations nod.
With the union settled, the investment will enter an advanced stage, and at this time, it will mainly wait for the approval of the relevant US agencies.
However, around the world, Zhouyou's investment is mixed, because among all the projects invested by Zhouyou, the cinema chain is the only one that loses money. But Zhou You became more and more courageous and continued to attack the industry.
Zhou You doesn't know much about the richest man in later generations, but he has always been very optimistic about the direction of his investment in the cultural industry. Because no matter what time it is, investment in the cultural industry can always be regarded as a stable project.
Thinking that he had intercepted a handful of Hu, and now AMC has intercepted a handful of Hu, Zhou You is really a little embarrassed, and he will make up for it in other aspects in the future.
Waiting for approval, it wasn't so fast, and Zhou You, of course, didn't stay in Kansas City all the time, but came to Miami because his new yacht was finally built and he drove from Italy to Miami.
Compared to the Ranger, the new yacht is much larger, the Ranger has a displacement of only 5,000 tons, but the new yacht reaches 8,000 tons. The Ranger has only four decks above deck and two below deck, for a total of six decks, but the new yacht has eight floors.
However, the crews needed by the two ships were opposite.
The Ranger requires a minimum of seven people to drive, and with the addition of various jobs, it takes thirty people to play the role of this ship. But yachts are different, although the number of people driving the boat is not much different, but because there is no professional equipment, it only takes less than 20 people in total to meet the needs of the ship.
Of course, the ship is bigger, and it's a yacht, so the number of service personnel is also larger.
The crew was recruited by Zhou You himself, but the service staff Zhou You did not worry about it, but outsourced it to Star Cruises under the name of gambling king Lin Wutong.
Star Cruises is the largest cruise line in Southeast Asia, and with a full staffing staff, there is no need to worry about traveling, everything can be arranged properly. Moreover, since these personnel can be hired in installments, the calculated cost is lower than traveling around and hiring people yourself.
At the Miami Cruise Port, Zhou You was very happy to see his own cruise ship slowly approaching the pier. On the deck on the top floor, Gracia happily waved to Zhou You, and next to her, Yan Fangqing and Lu Wenlong were standing.
There are a lot of people who come to the United States this time, mainly because they are still on vacation, and Zhou Tao and Yan Qingya have both graduated from high school and have not yet entered the university campus, so they all came with them.
Yan Qingya's grades have always been relatively good, and before she graduated, she was already enrolled by four first-class universities with full scholarships. Instead of Harvard, which is more famous, she chose Oxford.
The main reason for this is that Li Hengwu, the second son of the young master, was also recruited by Oxford. The gap between the two of them is a bit big, one is the son of a young master, and the other is the daughter of a nanny from the mainland. At first, no one was optimistic about their love.
But Zhou You has now become the richest man in the world, speaking of which, Yan Qingya is also his niece, and Yan Fangqing, her aunt, is Zhou You's main wife, and now she is arranged by Zhou You to become the chairman of the Zhou Foundation. Therefore, Yan Qingya's own identity is not high, and it is not important at this time.
Yan Qingya went to school in Oxford, and Yan Fangqing bought her a house in Oxford for her to live in the UK, which also shows that Yan Fangqing attaches great importance to her.
More importantly, Yan Qingya is more competitive, has always had excellent grades in school, and actively participates in various social activities, so that the young head couple have a good impression of her, and naturally they have no contempt for her.
Speaking of which, although their son has a higher status, his performance in all aspects is not as good as Yan Qingya. He was able to go to Oxford, not because of how good his grades were, but because of the people in his family, each of whom was arranged by the British government to go to university in the UK, for political reasons.
In contrast, although Zhou Tao's grades are also good, they are far behind Yan Qingya, a top student. However, he did not think about studying abroad, and was recruited by the National University of Singapore early.
He is eighteen years old this year, and because of his delicate face, he still doesn't look mature, but like Zhou You, he is a little playboy. Just because of the emotional disputes he had at school, Yan Fangqing helped him deal with them three times. It is also because of this that he also has great respect for Yan Fangqing, his sister-in-law.
"Fourth brother, has the route of this trip been arranged? My vacation is limited, so I can't accompany you the whole way. ”
Zhou You sneered: "Hurry up and make money for me, I don't want to take you with me yet." ”
Liang Hao was not angry, he smiled and said: "The opportunity to eat and drink for nothing, if you chase me, I will not leave." ”
Lu Wenlong also learned to travel around, and they only wore a pair of beach pants, revealing a somewhat slender upper body. Taking a sip of the cold ice wine, he said with a smile: "Evan, I also have a little money in my hand now, and I can't find a place to spend it, give me a trick!" ”
Zhou You turned around and asked, "Your own money?" ”
Lu Wenlong nodded, "Sort of, my grandfather is already arranging the funeral, and my mother and I have shared a sum of money, and now we can't find a channel." ”
Zhou You is negotiating with the Malaysian government to cooperate in the development of Langkawi Island, and there is also a part of the gambling king family's shares, after all, they are the head snakes in Malaysia. However, this investment is relatively large, and the cycle is long, so even if Lu Wenlong's funds are invested, it does not make much sense.
Zhou You thought for a while and said: "In recent years, the prices of various energy minerals have skyrocketed, if you are interested, invest your funds in this direction." Whether it's a direct investment in a company or a stock, it's good. ”
Lu Wenlong asked a little strangely: "But you don't seem to have invested in this area yourself, right?" ”
"Isn't it an industry in Colombia? Besides, my identity is different now, and if I invest in this industry now, it will bring greater gains, which is tantamount to indirectly cheating us mainlanders. ”
He said with some sighs: "When the capital reaches a certain level, the fame reaches a certain level, and it is tied hand and foot!" However, your current situation is the envy of everyone. In the past, some people called you Asian Buffett, but now I don't call you like that, just a Tmall has let everyone see that you have a stronger appeal than Buffett. ”
Zhou You shook his head, got up from the recliner, and looked at the endless sea and the islands in the distance. "I'm still far from strong, because my influence on the market is far from enough!"
(During the Spring Festival, there is no intentional code word, and the quality has decreased somewhat, so I apologize first.) I will continue to work hard in the future...... )