In Hong Kong, we build a global business empire

January 11, 9:45 AM.

MGM Grand Hotel, Lions Room.

At this moment, the Lion Hall was already packed.

Nearly two hundred journalists from American media outlets crowded into this luxurious hall, which is usually only open to high-end guests and private banquets.

Cameras from the three major television networks, ABC, CBS, and NBC, were set up in the back row, their lenses pointed at the podium in front.

The Wall Street Journal, The New York Times, The Los Angeles Times, Time Magazine, Forbes, Fortune...

Every media outlet with a name in the American business world sent a reporter to the scene.

The lights in the hall were turned up to their brightest, illuminating the entire podium.

Two microphones were placed on the stage, one on the left and one on the right. On the deep red curtain behind them, the MGM golden lion emblem shone brightly under the lights, and the three letters "MGM" were particularly eye-catching.

This is the MGM logo, a totem of Hollywood's golden age, and a symbol of luxury and power in Las Vegas.

The reporters chatted in small groups, exchanging information they had gathered.

Some people were flipping through the press releases they had just received, some were quickly scribbling in their notebooks, and others were idly fiddling with their cameras, waiting for the main character to appear.

Lin Haoran did not deliberately conceal the fact that he had acquired MGM during this period, after all, there were so many procedures and formalities involved, it was impossible to hide it even if he wanted to.

In addition, Kirk Kocorian contacted many shareholding institutions and individual shareholders, and some of them were so talkative that the news had already leaked out.

Over the past five days, rumors about a "Chinese tycoon acquiring MGM" have been circulating widely on Wall Street and in Hollywood, with various versions of speculation emerging one after another.

Some say Lin Haoran shouldn't have become the owner of the largest casino in Las Vegas, while others say he bought MGM to launder money. There are various claims, but none of them have been verified.

Therefore, when news broke that MGM was going to hold a press conference, almost the entire American financial media scrambled to send people to find out what was going on.

After all, if this deal goes through, it will be the largest casino ownership change in Las Vegas history, and the first time that a Chinese person has completely taken control of Hollywood's core business.

What's more, the protagonist is a young man who is not even thirty years old.

No one wants to miss news like this.

Lin Haoran was standing at the side door of the hall, observing the situation inside through the crack in the door.

He wore a custom-made navy blue suit, a white shirt, a dark blue tie, and platinum cufflinks that gleamed discreetly under the lights.

He is clean and neat, possessing both the vigor of youth and the maturity and composure of maturity.

Hotel General Manager Frank McCarthy was by his side at that moment, after all, he knew that from now on, Lin Haoran was his boss, and Kirk Kocorian was a thing of the past for MGM.

"Boss, Mr. Kerkorian should be arriving soon," Frank McCarthy said to Lin Haoran, glancing at the numerous reporters in Lions Hall.

Yesterday, he still called Lin Haoran "Mr. Lin".

Today, the title has been changed to "boss".

McCarthy himself was unaware of this change in address, but Lin Haoran noticed it.

He didn't say anything, just nodded slightly, his gaze still fixed on the hall.

Sure enough, less than two minutes later, Lin Haoran heard Kirk Kocorian's hearty laughter coming from the other end of the corridor.

Today, the old man was dressed in a well-tailored dark gray suit, with his white pocket square neatly folded. He looked energetic and didn't look like someone who was about to say goodbye to the fruits of his labor of more than a decade.

“Mr. Lin, I’m sorry to have kept you waiting.” Kerkorian strode over, extended his hand, and shook Lin Haoran’s hand firmly. “I just went over the process with the PR team. It was a bit long-winded, but it was all for today’s event.”

Lin Haoran smiled slightly: "No rush, the timing is just right."

Kerkorian glanced at the side door, and through the crack in the door he could see a dark mass of people and flickering lights in the hall.

His gaze lingered for a moment, the smile on his lips faded slightly, revealing a barely perceptible hint of emotion.

“One hundred and ninety-seven media outlets,” he said softly, as if talking to himself. “When I rebuilt the hotel, there were less than half the reporters that came today.”

Lin Haoran nodded but did not reply.

The old man was silent for a few seconds, then patted Lin Haoran on the shoulder, his tone returning to its usual cheerful tone: "Let's go, it's time to let the world see MGM's new owner."

After saying that, he strode toward the side door, and the public relations staff immediately stepped forward and opened the door.

In that instant, a cacophony of noise surged through the hall, a cacophony of camera shutters, motors, and whispers among the reporters.

Kerkorian stood in the doorway, head slightly raised, a signature, slightly sly smile on his face, and stepped inside.

The door slowly closed behind him.

Lin Haoran stood in the corridor, listening to the applause and cheers coming from inside the hall.

That was applause for Kerkorian, Las Vegas's final salute to the casino tycoon.

McCarthy stood beside Lin Haoran and said in a low voice, "Boss, Mr. Kecorian has been in Las Vegas for decades. Everyone in this city knows him. After today, everything will be different."

Lin Haoran laughed and said, "That's right, it's different. If everything were the same as before, there would be no point in me spending 650 million."

McCarthy opened his mouth, but said nothing more.

The applause in the hall gradually subsided, and Kekorian's voice came through the door, carrying a sense of weight and experience.

He talked about the history of MGM, how he rebuilt the hotel from ruins two years ago, his feelings for the city, and why he decided to hand over the baton today.

Every word was perfectly chosen, neither overly sentimental nor cold.

He will continue to frequent Las Vegas in the future. Although he has lost his status as the owner of MGM, he is still a heavyweight figure in the city.

Moreover, he has already announced plans to build a larger and more luxurious hotel at the south end of the Las Vegas Strip.

Given his wealth and connections, this matter is highly likely to come true.

At that time, the MGM Grand Hotel will face a formidable competitor.

Lin Haoran was fully aware of this, but he was not surprised.

In the business world, there are no permanent friends or permanent enemies, only permanent interests.

Kecorian wants to build a new hotel; that's his prerogative.

If Lin Haoran wants to run MGM well, that's his own ability.

Each should compete fairly based on their own abilities.

Inside the hall, Kerkorian's speech continued.

“Some people said I was crazy to sell a hotel that earns hundreds of millions of dollars a year to someone else and start from scratch. I told those people that I was not crazy. I just felt that at this age, it was a kind of luck to be able to do something big again.”

How much money is enough? For me, the process of making money is more interesting than the money itself.

A round of applause erupted from the audience.

Kecory paused, his voice growing deeper: "So, standing here today, I'm not saying goodbye, but welcoming—welcoming my new project, and welcoming a new chapter for MGM."

Ladies and gentlemen, please allow me to introduce MGM's new owner, Mr. Lam Ho-yin from Hong Kong!

Thunderous applause and a deluge of camera shutters.

The side door was opened from the inside, and a public relations staff member poked his head out and gestured for Lin Haoran to enter.

Lin Haoran straightened his tie, took a deep breath, and stepped inside.

The moment the door opened, all the spotlights shone on him.

The blinding white light made him squint slightly, but he didn't stop, walking steadily down the red-carpeted aisle towards the podium. Reporters on both sides raised their cameras, flashes going off everywhere, illuminating the entire aisle as if it were daytime.

Cameras from the three major television networks, ABC, CBS, and NBC, also captured this moment.

Lin Haoran walked to the front of the stage, where Kekorian greeted him, and the two shook hands firmly.

This scene has been captured by countless cameras: an aged but still powerful hand and a young and determined hand, clasped tightly together under the golden lion emblem.

Kerkorian stepped aside, giving Lin Haoran the center position on the podium.

Lin Haoran stood in front of the microphone and adjusted its height.

This small gesture was faithfully captured by the camera lens, and millions of viewers in New York, Los Angeles, and Chicago, thousands of miles away, saw it on their television screens.

He raised his head and glanced at the audience.

Nearly two hundred reporters, along with countless cameras and recorders, stretched out towards the podium like a dense forest.

His face showed neither tension nor excitement, only a calm and composed demeanor, as if he were in complete control.

In Hong Kong, Lin Haoran frequently faced interviews from hundreds of media outlets. Although most of them were small media outlets, and there were only a dozen or twenty truly mainstream media outlets, these experiences had already honed his ability to be composed and unhurried in front of the camera.

Hong Kong reporters are known for their sharp tongues; they dare to ask any question and dig into any angle.

Lin Haoran was able to handle that kind of environment with ease, so naturally he wouldn't be intimidated by the presence of American reporters today.

He stood in front of the microphone, first nodding slightly to greet the reporters below the stage, and then said, "Good morning, fellow reporters."

His voice was neither too loud nor too soft, and his speaking speed was neither too fast nor too slow.

“I am Lin Haoran, from Hong Kong. You all should know me to some extent. So I’m not standing here today to tell my legendary story, nor to tell how I earned more than 10 billion US dollars before I turned 30.”

A soft laugh came from the audience.

The atmosphere relaxed a bit, but the reporters still held pens or microphones, waiting for truly newsworthy content.

"Everyone must be very curious as to why I acquired MGM. The reason is simple: I am optimistic about the future development prospects of the United States, so I have invested a huge sum of money in the United States."

Lin Haoran's voice echoed in the Lions Hall, reaching every corner through the microphone and also being transmitted to thousands of households in the United States via television signals.

“The United States is the world’s largest economy, Hollywood is the center of the global film industry, and Las Vegas is the heart of the entertainment industry. My decision to invest here is not an impulsive one, but a well-thought-out strategic decision.”

MGM is just one of my investments. In the future, I will continue to increase my investment in the United States, and if nothing unexpected happens, you will hear my name frequently in the future.”

During Lin Haoran's time in the United States, in addition to MGM, the NBA and 45 buildings in Manhattan, New York, have already been finalized as part of his investment projects.

As for the investment in luxury goods projects, it's considered an investment in France, so it doesn't really count as an investment in the United States.

Of course, he didn't intend to say these things here; these people will find out later.

As soon as Lin Haoran uttered those words, the reporters below the stage immediately perked up their ears.

This was not just a polite remark, but a clear signal: Lin Haoran was not content with merely owning a casino and a film company; his ambitions were far greater than outsiders suspected.

"However, let's not talk about the future today, let's just talk about the present. I am very happy to be able to acquire MGM Studios and MGM Grand Hotel, and I am also very grateful for Kirk Koccorian's trust and support."

Lin Haoran turned to the side and nodded slightly to Kekorian, who was standing to the side.

Kerkorian nodded as well, and the tacit understanding between the two was on full display at this moment.

“MGM is one of the eight major Hollywood studios and a symbol of the American film industry. I am honored to have acquired this great company from Mr. Kerkorian and am well aware of the responsibilities I bear.”

As everyone knows, MGM Studios' performance has been declining and its debt has been high in recent years. My purpose in acquiring it is to revitalize MGM and bring this legendary company back to its rightful place.

As for the MGM Grand Hotel, now the largest hotel in Las Vegas, I am honored to be its owner, and my promise to it is only one: it will be better.

Lin Haoran's voice traveled through the microphone to every corner of Lions Hall and was also transmitted to the homes of millions of viewers across the United States via television signals.

His tone was calm, without any grand pronouncements, yet it possessed a power that compelled one to believe him.

The reporters in the audience flew across the paper with their pens, turning every word he said into black ink.

"The equity transfer process between me and Mr. Kerkorian is complete. My next goal is to privatize MGM and turn it back into a private company from a publicly traded company."

Only in this way can I avoid short-term pressure from the capital market and proceed with the restructuring plan at my own pace. Thank you.

After Lin Haoran finished speaking, he moved the microphone away from him and did not continue.

He said everything he should have said, and he didn't say a word more than necessary.

The press conference has achieved its purpose: to let the world know that MGM has changed owners, to let the market understand its determination and direction, and to let institutional investors who are still watching reassess their choices.

Lin Haoran's words caused a greater commotion in the audience than ever before.

Privatization means that Lin Haoran will repurchase all outstanding shares from the open market and take complete control of MGM.

This requires not only a huge amount of money, but also a great deal of determination and confidence.

A New York Times reporter couldn't help but stand up and ask, "Mr. Lin, you said you not only acquired two MGM companies, but also intend to privatize them?"

As is well known, MGM Studios is heavily indebted and has negative net assets, while MGM Grand Hotel has a dispersed shareholding structure with numerous institutional investors.

"You're simultaneously pushing for the privatization of two companies. What gives you such confidence in managing MGM?"

……

Meanwhile, in Hollywood, Los Angeles, California.

Universal Pictures boss Ruwotherman is currently in his office, with a color television set opposite him.

The television was showing a live broadcast from ABC, in which Lin Haoran and Kirk Koccorian sat on the stage, facing a barrage of questions from reporters.

"This is a very good question from a journalist friend. MGM Studios is indeed heavily in debt, and I neither deny it nor intend to hide it."

But I would like to ask everyone here, can the true value of a company that owns the copyrights to more than 4,000 films, a company that owns the most recognizable lion's roar opening sequence in the world, be reflected in the few numbers on its balance sheet?
When I acquired MGM, I wasn't buying its debts, but its film library, its brand, and the intangible assets it had accumulated over seventy years.

Privatization is to prevent these assets from being tied to quarterly financial reports, giving me enough time to revitalize them…

Lou Wasserman's eyes were glued to the screen.

He is 62 years old this year and has been working in Hollywood for 40 years. Starting from a talent agency, he has gradually built Universal Pictures into one of the most stable empires in Hollywood.

Hollywood is very glamorous, really glamorous.

Therefore, as Kirk Kocorian said, in Hollywood, open and covert struggles are inevitable.

At this moment, the Universal Pictures boss frowned, seemingly feeling uneasy about the change of ownership of MGM.

Lou Wasserman, known for transforming MCA into an entertainment industry giant and acquiring Universal Pictures, is considered a key figure connecting old Hollywood with the new era.

MGM is a symbol of Hollywood's golden age. The roar of the MGM lion once shook the entire film world; it is such a legend.

Therefore, Lou Wasserman has always understood and been relieved by Kirk Kocorian's focus on the casino and hotel industry while neglecting MGM Studios.

He understood because he knew that Kerkorian's true nature was that of a casino tycoon, not a filmmaker.

You can't expect someone who built a hotel empire in the Las Vegas desert to suddenly develop a deep love for film art, let alone understand how long it takes and how much patience it takes to incubate a film's concept.

Fortunately, if Kerkorian had truly taken MGM Studios seriously, given MGM's film library and brand influence, Universal Pictures would not have been able to expand its territory so smoothly over the past decade or so.

But now, the current situation is about to change.

This made Lou Wasserman quite worried. (End of Chapter)