Hollywood starts with an agent

Chapter 581 Hollywood and Silicon Valley
Burbank, Dawn headquarters, Aaron met with CBS News President Eric Ober in his office!
"With the rise of MSNBC and FNC, two 24-hour news channels, it seems they have formed a three-way competition with CNN."

"CBS's news programs have seen their ratings decline again and again. What do you think can be done to improve this situation?"

Aaron asked.

Eric Ober thought for a moment, "MSNBC has a partnership with Microsoft, and there's a wealth of news material online;"

"FNC Channel also draws content from News Corporation's newspapers, CBS, and ABC News, but it primarily relies on its own resources."

"Right now, we can only try to improve the program content and the host's style, or we could increase the channels for content collection!"

Aaron nodded. "I understand. I won't get too involved in the news reporting, whether it's liberal or conservative."

"I only care about CBS ratings; I don't care about anything else."

Eric Ober's Jewish leanings were too obvious; much of the content that should have been broadcast was cut off, and the meaning was completely different.

To get high viewership, the content must be eye-catching and bolder!

Eric Ober sighed. "I understand..."

Subsequently, Dawn held a press conference in Los Angeles to announce the start of filming for its screenplay "Never Compromise," which is based on the true story of Erin Brokerwich.
The director is Steven Soderbergh, and the female lead is Nicole Kidman.

At the same time, Viacom announced that it had acquired Robert Johnson’s BET Black Entertainment cable television network for $23 billion in equity and cash, plus the assumption of $6.7 million in debt.
Dawning owns 20% of BET Entertainment, which brings in $4.6 million. Robert Johnson, who owns more than half of BET, became the first African American to have a net worth of $10 billion!

At the Wilshire Hotel in Los Angeles, Aaron met Edgar Bronfman Jr. at a business cocktail party and brought up the matter.

"It seems that after Viacom failed in its bid for CBS, it has turned its attention to television networks."

"Blacks make up 13% of the population in the United States, and Viacom is clearly eyeing the African American community!"

Edgar Bronfman Jr. was astonished: of the seven major Hollywood film studios, only Sony and its MGM do not have their own television network.

After acquiring PolyGram last year, Seagram's balance sheet expanded further, and its focus shifted from brewing to the entertainment industry, resulting in continued increases in losses.

Aaron smiled. "Although Black people make up 13% of the African American population, they only account for 1% of the entertainment market!"

Aaron hadn't expected BET to sell for $23 billion. Even with the increase in the African American market, it would still be easy to attract the African American audience if national television stations like ABC, NBC, and CBS added some African American programming.

The fact that the three major television networks do not prioritize ethnic minorities is entirely a market-driven decision.

Edgar Bronfman Jr. paused for a moment, then said, "It seems you don't have a high opinion of BET."

"That makes sense, after all, Dawn has acquired CBS, and it also owns AMC and Starz. It's normal for them not to care about it!"

Edgar Bronfman Jr. then shook his head slightly. "The competition in Hollywood is getting fiercer and fiercer. Even DreamWorks has put a lot of pressure on us."

"Oh, how much pressure can DreamWorks be under? They don't have an international distribution network. Hasn't MGM restructured its international distribution channels in recent years?" Aaron said expressionlessly, but he knew perfectly well that Edgar Bronfman Jr. had been very ambitious after acquiring MGM Studios, and had developed a lot of projects with a wave of his hand.
Aside from United Artists' "007" and "Pink Panther" series, there really aren't any other notable works. The losses of MGM and Sony are staggering.

Sony has its headquarters providing financial support, given its strong electronics sales. MGM has Seagram's support, as Seagram's wine business has shrunk in recent years and has already laid off employees several times.

Edgar Bronfman Jr. sighed, "Although MGM has restructured its international distribution network, our works have not met expectations!"

Aaron smiled without saying a word. The Bronfman family owns 27% of the Seagram Group and has always held the Seagram Group in their hands.
They were making a good living brewing wine, and with a large stake in DuPont, money was flowing in continuously.

Unfortunately, Edgar Bronfman Jr., after taking over the Seagram Group, was eager to enter the entertainment industry, and now he is finally experiencing the tragedy.
Given the current situation, it is very likely that Seagram will not be able to survive.

Edgar Bronfman Jr. is now seen as a top spendthrift. Indeed, the most frightening thing is when a rich second-generation starts a company!

A moment later, Christina Yerry came to Aaron's side and reminded him, "Mr. Jack Valentine has come specifically to see you."

"Excuse me for a moment," he said, looking at Edgar Bronfman Jr.

Aaron then got up to meet with MPAA President Jack Valentine.

"Internet Film and Television Copyright Act?"

Aaron overheard Jack Valentine talking about going to Washington to lobby Congress to pass legislation regarding internet film and television copyrights.

Aaron glanced at the other person. "I'm from Hollywood, of course I support them. Don't think that just because I'm a shareholder in AOL, Yahoo, or other companies, I'll support them."

"However, President Clinton, and many in Congress, currently support the internet economy."

"Silicon Valley is expanding rapidly now, and they will try to lobby those congressmen, but it will probably be difficult."

With the rise of the internet, the debate between Hollywood and Silicon Valley has intensified, and behind-the-scenes clips and snippets of Hollywood productions frequently appear on the internet.

Most of them are unauthorized and definitely constitute copyright infringement, but it's difficult to deal with now. Of course, the MPAA has to lobby Congress to pass new legislation.

Jack Valentine frowned. "Don't you have any better ideas either?"

He knew, of course, that Clinton was now giving Silicon Valley considerable support, but he couldn't afford to lose Hollywood's interests!

Aaron shrugged. "Clinton's term ends at the end of next year. Perhaps the next president will change things."

That's definitely not realistic right now. Just look at the tech stocks on Wall Street; they're all like they've taken some kind of drug.
Nowadays, as long as an internet company can come up with some impressive concepts, investors will buy in regardless of whether it is losing money or not.

Jack Valentine nodded. "From now on, our friction with Silicon Valley will only increase!"

The internet trend is inevitable, and copyright disputes between online videos and Hollywood will only increase.
With the country now promoting the internet economy, Silicon Valley is naturally gaining momentum...

(End of this chapter)