Came to the "Ovitz".

Abel's purpose is not for "X days X feast".

Although this kind of thing, he is quite curious.

His main purpose is to come for the shares of CAA.

According to Ovitz, these guests on board today.

They would sell their CAA shares to Abel if they were willing to.

Then Abel will be able to become the first shareholder of CAA immediately, which is still much more than the second one.

Absolute control is unrealistic, and the current CAA's shares are too dispersed.

After going through infighting, CAA is now a bit of a decline.

But the foundation is still there, and now the development trend of the entertainment industry looks so good.

Investors are still more optimistic about CAA.

So in this case, unless purchased at a large premium.

Otherwise, there is little hope for absolute control.

Moreover, CAA is a company that has many shareholders and has the advantage of having many shareholders.

The more shareholders there are, the more connections they have on their behalf.

Connections and resources are sometimes more important than profits for a company like CAA.

In addition, the guests who came to this yacht today were all screened by Ovitz.

As the guests know, today is mainly to talk about the transfer of shares.

The second is to socialize and enjoy.

What to enjoy?

Just look at the Hollywood beauties around you.

It's just that other customers may be more reserved, or they may be sold at a cost.

They were all waiting for Able to come and find them.

Bloomberg didn't know what was going on, so he found it himself.

Seeing this, Ovitz took the opportunity to say this main thing in advance.

In the face of Ovitz's directness, Bloomberg didn't seem to mind.

The Bloomberg founder smiled: "I know, that's what I'm here for." I'm here for Mr. Smith. ”

"Hmm." Abel smiled and said, "So, what do you mean .....?" ”

"What do I mean? Of course I want to sell. As long as Mr. Smith you want. Bloomberg said casually.

Mr. Bloomberg now owns about 3.1 percent of CAA.

This is the stake he bought earlier.

It has always been in hand, and it has not been sold or increased.

When he bought the shares, CAA was worth about $500 million.

It cost $15 million at the time.

Nearly a decade has passed.

The market capitalization of CAA.... Well, it didn't go up much.

Don't look at the CAA in Hollywood, which has a lot of power and influence.

But in fact, a company like CAA, even if it is a giant, has profits like that.

In the mid-'90s, CAA had 550 employees and signed up about 1,400 of Hollywood's top talent.

But the company's annual revenue is just over $150 million.

Today, in the year 2000, CAA is stronger.

More than 600 employees have been employed.

But last year's annual report revenue was just over $300 million.

It's still revenue, not profit.....

If you count the profits, it is estimated that it is less than 100 million US dollars.

So now, the valuation of CAA by many investment banks is probably around $1.2-1.5 billion.

The 11% stake that Abel previously acquired at a premium is about $190 million when the premium is included.

Not to mention compared with financial companies, even compared with medium and large companies in other industries.

CAA's annual report and market capitalization are not very good.

But in this era, CAA is already a giant in the entertainment brokerage industry.

Because of this,

CAA is looking for a transformation.

It's just that CAA is timid and does not dare to develop into other fields.

For the time being, I only think about the transition to other areas of business brokerage.

Not daring to invest indiscriminately, they are now starting to focus on the commercial sports sector.

For example, the NBA, NFL, NHL and other commercial sports leagues.

At the same time, it is also preparing to go global and begin to build branches overseas.

But.... That's it.

Even after the future listing, when CAA's market value was at its highest, it did not exceed $10 billion.

The market capitalization has been hovering around $4 billion to $6 billion for a long time.

So from an investment point of view, the rate of return of CAA is really not very good.

If it weren't for Abel's goal in the media industry, CAA would be a very suitable springboard.

If he didn't think about this, CAA would never be so serious about a company of his size.

No matter how you say it, it sounds good.

Companies like UTA, WME, CAA, to put it bluntly, are actually intermediary industries.

The intermediary industry can only make money by commission.

The commission also has to be divided into a large amount of employees and the last thing is the profit.

This model, no matter how big the scale is, is just like that.

That's probably why.

Mr. Bloomberg was so casual when he sold his stake in CAA.

The difficulty in controlling CAA is not in funding.

The reason is that its shares are too dispersed, and the shares are so dispersed, to a certain extent, it is beneficial to its own operation.

Even Abel didn't want to privatize CAA.

If it is really privatized, it will inevitably affect its operation.

His idea is that absolute control is sufficient, about %51.

If you can get control of the board, about 33% would be acceptable.

No matter how large the share, privatization is not a good option.

This is true of industry attributes.

Unless he himself can provide adequate resources.

For example, the Texas consortium, which was later absolutely controlled, could provide systematic support.

The current Abel can't do it to this extent at the moment.

Seeing Bloomberg talking so well, Abel immediately smiled and said, "The price will definitely satisfy you." ”

Bloomberg is not short of money, and Abel is not short of money.

He is so good at talking, but Abel owes him a favor.

Therefore, Abel preferred to buy a little more expensive and spend a little more.

It's better than owing favors.

But Bloomberg shook his head with a smile, "Just follow the market price." Bloomberg values CAA at $1.3 billion. Just press this. ”

Abel raised his eyebrows, so generous?

It's not like a capitalist.

He was not familiar with Bloomberg, and the other party did not make sense to be so generous.

These capitalists are not even willing to pay tens of thousands of dollars in taxes.

This opportunity to make millions more is so easy to give up.

I just want to get more.

But it is clear that Mr. Bloomberg does not want to talk about it now.

For him, CAA is just an investment.

Nearly ten years of investment, it has earned two or three times.

It seems like a lot, but it's like that for Bloomberg.

It's just clear that the discussion related to the CAA.

A few Hollywood actresses next to him are obviously very interested.

It's just that their interests are not in the minds of Bloomberg and others.

Bloomberg looked around at a couple of Hollywood actresses, and then at Ovitz.

"Mr. Ovitz. I have something to say to Mr. Smith. Can you provide us with an intimate venue? ”

Ovitz was stunned for a moment, and immediately reacted: "No problem. ”

"How's the back of the yacht? There's a small deck over there with a great view of the Atlantic Ocean. And no one can hear what you're saying. ”

"Yes." Bloomberg said.

Abel shrugged, and he didn't object.

Now he was more curious about what Bloomberg wanted to say to himself.