My absurd experiences in North America over the years

Bix's demeanor was befitting of a veteran who had spent many years in the entertainment industry. On the surface, he appeared incredibly magnanimous, while deliberately keeping his distance from Li Fu.

Li Fu didn't expose him, but merely swirled his wine glass, his tone equally relaxed, "I originally wanted to sit down and talk to you, and since we've met today, I might as well be frank. How about we develop the Hobbit project together?"

MGM owns half of the copyright, and Warner Bros. owns the other half. Joining forces and sharing the costs is currently the best option.

Bix was surprised that Li Fu was so direct, and a slightly astonished expression appeared on his face.

He couldn't refuse directly, after all, Li Fu was a major shareholder of Time Warner. If he didn't give him face today, Li Fu might not give him face in the future.

Bix didn't respond immediately. He picked up his glass, took a sip, and then said in a very cautious tone, "We've indeed held the production rights to The Hobbit project for over a decade, and frankly, we have our own development plans..."

He paused for a moment, observing Li Fu's reaction, before continuing, "Mr. Li, you've only recently taken over MGM, so you may not fully understand the company's actual situation. They're short of funds, burdened with debt, and experiencing management turmoil... In such a chaotic situation, no one can guarantee that cooperating with them won't lead to any problems during the production of such a major IP..."

In fact, the Hobbit project was indeed shelved due to a lack of funds and mounting debt.

“I understand your concerns,” Li Fu said, knowing that Bix was just making excuses. “However, I must say that I am aware of its current state, and it is precisely because I am aware of it that I believe the Hobbit project can only be developed through our collaboration.”

He didn't expose Bix's so-called development plan for Warner Bros., because if he pressed him on whether the plan had started, and if it had, and at what stage it was progressing, things would get very tense.

Moreover, Time Warner cannot bypass MGM at all, as only MGM owns the distribution rights.

Is this taking advantage of him because he's new to the industry and doesn't understand the business?

"This collaborative development is not something we can discuss in a few words here. After all, it involves an investment of hundreds of millions of dollars. I need to go back to the company for a meeting, gather the heads of various departments, and assess the risks and benefits," Bix declined with the most high-sounding reason.

How could Li Fu not know what Bix was thinking? Perhaps Bix wanted to wait and see if MGM would be unable to hold on, and if the other half of the Hobbit copyright would return to them at a lower price?

It's even possible that they could take the opportunity to acquire MGM in its entirety.

"Are you sure you don't want to continue this conversation?" His patience was wearing thin.

Bix did not answer, but his silence itself spoke volumes: he had no interest in collaborative development.

"I understand your reasons for doing this, but if I were in your position, I might make a completely different choice," Li Fu said, looking at the other person with interest.

"Oh, really?" Bix asked casually, "What would you do?"

"I will choose to cooperate directly," Li Fu stated clearly. "We need to look at the issue from a developmental perspective. MGM is not the MGM of yesterday, but your judgment is based on yesterday's experience."

"What do you mean?" Bix thought to himself, unconvinced.

Even if it's an extra $500 million, so what? MGM has billions in debt; $500 million is just a drop in the bucket.

However, he outwardly adopted a posture of listening attentively.

"You think MGM can't survive without 'The Hobbit,' and that a $500 million investment is simply not enough to support such a behemoth as MGM, right?" Li Fu smirked.

Bix nodded. Given MGM's debt situation, $5 million wouldn't last long. At least he felt that MGM needed the Hobbit IP more than Warner Bros. at the moment.

"So I say you should look at the problem from a developmental perspective," Li Fu said bluntly. "MGM lacks funds, but I, as a new investor, do not, and Forrest Capital does not lack them either."

"What?" Bix frowned slightly. "Are you planning to bleed money from a near-bankrupt entertainment company? Why not just buy it for $20 billion?"

He couldn't understand why Li Fu was so obsessed with MGM, a company on the verge of bankruptcy.

Five hundred million is already a lot, are you going to spend even more?

Li Fu shook his head. The other party had clearly misunderstood him. "What I meant was that MGM's intellectual property isn't just The Hobbit. RoboCop, Legally Blonde, Tomb Raider, Hannibal, and so on—which one doesn't have development value?"

Bix thought Li Fu was going to say something!

He smiled slightly upon hearing this, "Developing these IPs also requires funding. Developing two films simultaneously with five hundred million US dollars—what about debt default? What about daily operations? It wouldn't be worthwhile for you to pour more money into this bottomless pit!"

"No, no, you've misunderstood me," Li Fu shook his head decisively. He wouldn't blindly throw money around. "Instead of continuing to invest in MGM, why don't I establish a film company through the Tribune and co-develop those IPs with MGM?"

Bix's breath caught in his throat. He had always possessed a kind of "aloofness" that art would never succumb to the "barbarians" of capital, and naturally had no liking for Li Fu, who came from Wall Street.

Because Li Fu now holds almost the same number of shares in Time Warner as Carl Icahn did a few years ago, and he vividly remembers the scene a few years ago when Carl Icahn fought for the agency rights of Time Warner through the board of directors.

This instinctive "resistance," coupled with his obsession with acquiring MGM, made him forget that the young man opposite him might have a more terrifying amount of capital than Icahn.

The new generation of management at Forum Newspapers was even promoted by the other party.

Two years ago, the Tribune's debt crisis was much more severe than MGM's is now, but it has now recovered.

This century-old behemoth already had its own film company a few years ago, but it was sold off long ago due to debt. What difficulty would it be to pick up this business again?

With the two companies jointly developing those classic IPs and promoting them through the Tribune's media channels and Twitter social platform, MGM's revival is highly probable.

Bix felt that it would be somewhat ridiculous for him to persist.

Li Fu knew he had persuaded Bix and continued to raise the stakes, "You and I both know that Warner Bros. and MGM each hold half of the rights to The Hobbit. You have the production rights through New Line Cinema, while MGM holds the distribution rights. Neither of you can bypass the other. If a project worth billions is dragged on like this, it will be a lose-lose situation for both sides."

He appealed to both emotions and reason, repeatedly stating that cooperation would benefit both sides.

If Bix remains stubbornly entrenched in his own opinion, he might have to resort to his alternative plan: establishing a film company through the Tribune while learning from Icahn and making these arrogant art "practitioners" bow their heads before him.