America: My Time

Chapter 58 Tokyo TV

Chapter 58 TV Tokyo
Time flew by, and soon it was time to meet Akio Morita. Once again, they chose a quiet private garden. Guided by someone arranged by Akio Morita, John and Naoko arrived at a garden in Setagaya.

Akio Morita was not surprised to see Naoko, but John was a little puzzled because there was not only Akio Morita and his female companion there, but also a stranger he did not recognize.

The man's eyes showed a hint of surprise when he saw John and Naoko appear. He seemed unaware that Naoko would be there, and it was clear that he did not know the relationship between John and Naoko before!
"Let me introduce you both. This is Mr. John Bayard, and this is Mr. Iwata, who is here on behalf of Prime Minister Suzuki to discuss the acquisition of TV Tokyo with Mr. John!"

When Akio Morita finished speaking, John was taken aback. Although he needed the Japanese government's approval to acquire TV Tokyo, no matter how careful he was, he would still alert the Japanese government. This was a media acquisition, and it was impossible not to alert them. He just didn't expect that even the Prime Minister would be alerted.

At this moment, John couldn't help but wonder: "Is this necessary? This is just the weakest civilian television station!"

Although he was very puzzled, John nodded and said, "Hello, Mr. Iwata. You can ask me any questions. I also hope to have a sincere conversation with you and get to know each other better!"

“Mr. John, the biggest problem with your acquisition of TV Tokyo isn’t actually the Broadcasting Law, but rather how the Japanese public understands and approves of you. The Japanese government wants to know how you operate TV Tokyo and what your true intentions are—this is a concern for many!”

"I understand that your biggest concern is that you fear I want to control the Japanese media to guide public opinion and dictate the direction of Japanese public opinion. In fact, you don't need to have such concerns. I have no such intention, nor would I do such an ignorant and foolish thing. We all know what kind of situation TV Tokyo is. It is the weakest and poorest of the five major commercial broadcasters. Even if I had such intentions, I couldn't compete with the other four major commercial broadcasters, not to mention that you also control the official NHK television station!"

"That's true, but not everyone has your vision or your wisdom. Many ordinary people would find it hard to accept, and they would all have such concerns in their hearts!"

"I previously discussed this with Mr. Morita. If all parties in Japan allow me to acquire TV Tokyo, I will choose to relinquish news reporting. TV Tokyo will undergo a complete transformation, shifting towards entertainment. We can include this in the contract. TV Tokyo will serve as a platform for Phoenix Comics and Animation, providing Phoenix Animation with a distribution platform unaffected by external forces. Of course, we will also produce some music programs and promote legendary records. As for broadcasting dramas and movies, I believe that will be even less of a problem. A purely entertainment-oriented television station should not pose any threat or impact to your Japanese operations!"

“We have no objection to Mr. John’s commitment, but you should understand that not everyone is so reasonable. There will always be a small group of people who have concerns. I am here today just to confirm Mr. John’s thoughts. Of course, we also hope to reach a consensus with John first, and hope that this transaction will promote mutual understanding!”

"So, does this mean the Japanese government has agreed to my acquisition of TV Tokyo?"

"There are no problems overall, but how to circumvent the ban on extradition is something Mr. John needs to handle himself. I believe Mr. John has already come up with a solution!"

Is TV Tokyo really that important to Japan? Are there concerns that John might control Japanese public opinion? No, it's not that important. Iwata, who came on behalf of the Prime Minister, was merely confirming John's promise to Akio Morita. The Japanese government doesn't value TV Tokyo; previous statements were just excuses. Even the most naive Japanese public wouldn't believe that John has the ability to control Japanese public opinion. Everyone knows the true state of TV Tokyo. John and Morita also have an agreement: for the Japanese government, exchanging TV Tokyo for Columbia Pictures would be a good option. In terms of global influence, TV Tokyo cannot compare to Columbia Pictures. Most importantly, if John's acquisition of TV Tokyo is thwarted, Morita's Sony will not receive Legendary Entertainment's assistance in acquiring Columbia Pictures, and may even face another major obstacle!
Akio Morita now has a better understanding of Legendary Entertainment, owned by John. He realizes that Legendary Entertainment is no longer as insignificant as it was a few months ago. Today, Legendary Entertainment controls its own television station, has the capital to compete with Warner, and has the backing of Wall Street.

Of course, Akio Morita was aware of Phoenix Media's situation, especially regarding Hong Kong's Rediffusion Television. Perhaps this was John's backup plan; if the acquisition of TV Tokyo failed, Phoenix Comics and Animation would rely on Rediffusion Television's platform. If this happened, it wouldn't be good news for Sony!
"That's good. With this mutual understanding, we can cooperate in many areas!" John breathed a sigh of relief. The worst-case scenario hadn't happened. If something unexpected had occurred, his plans would have needed to be changed, which would have greatly affected his layout for Neon Entertainment and the development of Legendary Entertainment Group.

TV Tokyo was the easiest and least troublesome TV station to acquire because it was not a publicly listed company; its shares were held by the Nihon Keizai Shimbun, which did not value TV Tokyo as an asset.

Akio Morita nodded and said, "That's right. With this mutual understanding, we can cooperate in many areas!"

At this moment, John also felt he should show some 'sincerity', and said with a calm smile, "That's right. Game World has made a game for Asia. Unfortunately, although the game has a good concept and will be very popular in Asia, it is not performing very well in North America and Europe. I think we can cooperate and have Sony produce and promote it!"

What is this 'sincerity'? It is naturally the mahjong game 'Mahjong Master' that will be released next year. This is a preparation that John had the game world make after making an agreement with Akio Morita. It can not only suppress the development of Japanese games, but also show his sincerity.

In the 80s and 90s, games like "Mahjong" were popular in Japan, making major game companies very wealthy. However, for the gaming world, producing such games could damage their reputation, so John abandoned the idea and used it as a gesture of "goodwill" to collaborate with Sony. What kind of relationship is the strongest? Profit!

"Mr. John, when do you think it would be appropriate for Sony to acquire Columbia Pictures?"

"Now is definitely not the right time. The trade deficit between the US and Japan is currently very large, and many US companies don't have a good impression of Japan, mainly because of the difference in values ​​between the two sides. Japanese companies are unwilling to accept US investment, which has created hostility towards Japan within the US, that is, hostility from Wall Street. If Sony were to acquire Columbia Pictures at this time, it would inevitably encounter huge resistance. First of all, Hollywood would not agree, and those giants would definitely be the first to jump out and oppose it. I don't have the ability to help them now. In my opinion, Sony needs to be patient now and wait for the trade dispute between the US and Japan to end before making a move. This way, the resistance will be reduced, and Legendary Entertainment will have greater development and more say."

John didn't want Sony to wait until 1989 to acquire Columbia Pictures. Instead, he wanted to bring the acquisition forward to 1985, after the currency exchange rate changed. At that time, due to the agreement between the United States and Japan, the pressure from all sides would be reduced, and Sony's early entry would also relieve the pressure on Legendary Entertainment!

"Actually, I still maintain that Sony should be prepared in advance for its acquisition of Columbia Pictures. Hollywood giants don't always have it easy, and large investments in films don't guarantee profits. I'm sure Sony has already done its research on this. The ups and downs of Hollywood are well-documented, and the Japanese film industry serves as an example. If Sony really wants to acquire Columbia Pictures, it's best to prepare early, do its research, and be prepared for a long-term investment. Don't worry about short-term gains or losses."

John knew all too well how disastrous Sony's initial losses were in acquiring Columbia Pictures—the losses were devastating. His warning to Akio Morita at this point wasn't out of goodwill; it was simply an attempt to distance himself. If Sony later fell into the same terrible cycle and suffered massive losses, they couldn't blame him for not warning them; they could only blame themselves for not being prepared beforehand!
Could Sony avoid losses with this reminder? No, it couldn't. Those bastards in Hollywood are not easy to deal with, and Sony only saw the videotape standard, only cared about Columbia's film library and Columbia Records. It didn't really understand the investment and operation of movies. That's why Sony suffered huge losses in the film industry after acquiring Columbia and paid a heavy price.

(End of this chapter)