Chapter 698 Acquisition (Part 2)
ps: Sorry, I met my classmates 13 years later and got together for one day. I will make up for today’s three updates tomorrow.
The New York Times is a newspaper published in New York, USA. It was first published in 1851. It has a long history, noble "blood" and has a great influence all over the world.
However, being too conservative made this world-famous newspaper miss two media revolutions.
Once it was the "TV Revolution", Rupert Murdoch seized this opportunity well; once it was the "Internet Revolution", Naspe CEO Cus Bycker seized this opportunity well.
The New York Times made a wrong choice for both historic opportunities.
It was not until 2010 that in order to reverse the increasingly weak and declining situation, the New York Times began to explore business models such as online subscriptions.
However, at this time, the New York Times was like a patient who "invested medical treatment" and his balance sheet was in jeopardy. In order to maintain vitality, he began to continuously sell its assets and implement a "slimming plan".
In 2012, the company acquired in 2005 for about $400 million was sold to IAC for $300 million; also last year, it sold its shares in the Boston Red Sox Baseball Team to Park Ji-hoon. Because of Park Ji-hoon's generousness, the CEO of the New York Times at the time revealed his intention to sell the Boston Globe to him.
The Boston Globe was founded in 1872 and is the largest newspaper in Boston, USA. It was acquired by the New York Times for $1.1 billion in 1993. As early as 2009, the New York Times had plans to sell the Boston Globe, but at that time there were only two buyers willing to buy it. The price was only $35 million. In addition to the union's trouble, the plan eventually suffered a miscarriage.
Undoubtedly, the New York Times hopes that Park Ji-hoon, who is "rich and powerful", can give a "permanent" price.
However, the funds were limited at that time, and although Park Ji-hoon was moved, he could only politely refuse.
When I came to the United States at the beginning of the year, I heard that the New York Times was intending to sell the Boston Globe. After the idea of starting a streaming video website was born, Park Min-ah and her team started negotiating with the New York Times.
What he was interested in was the high-quality resources, talents, and the impact of having such a newspaper on his career in Europe and the United States. Now, he has deeply realized the benefits of the second shareholder of the Boston Red Sox baseball team. His investment career is no longer as vaguely excluded as before. If it weren't for this identity, the New York Times would be basically unlikely to reveal to him that he wanted to sell the Boston Globe. When he came to the United States before, he received many invitations to gather at a high level.
A large number of resources and outstanding talents can greatly help him establish a website!
One of the disadvantages of the Boston Globe is that its employees are bloated. However, the union is too strong and has had conflicts with the New York Times many times. Forcibly dismissing workers is the best choice. If some people are persuaded to work in South Korea, it will undoubtedly benefit both parties.
However, once the host and the guest were reversed, the New York Times actually spoke out and offered a price of $100 million!
Although it is far from the $1.1 billion in 1993, this is already a high price for the current Boston Globe! When he took the initiative to tell Park Ji-hoon the news, he was just to try his best to sell a high price.
During this period, Park Min-ah has been in charge of negotiating with the New York Times, but the effect is minimal.
The New York Times seemed to be determined to take them and refused to give in.
Park Min-ah was very angry at the New York Times' behavior of treating her side as a "subordinate".
"That's it!" Park Min-ah said with anger after she told the "odd face" of the New York Times negotiating team.
It's hard for her.
Since she started school, she has been going smoothly and helped Park Ji-hoon start from scratch. Although the limelight was later covered up by Park Ji-hoon, she was willing to do so. However, her pride hidden in her bones is even more than Park Ji-hoon! She is extremely dissatisfied with the attitude of the New York Times.
"This is how the New York Times is, stubborn and conservative, like a stubborn country noble!" Park Ji-hoon smiled and comforted her.
There are people in front, back, left and right, and they don’t speak loudly, so don’t worry about being heard.
"Where is so unbearable?" Park Min-ah said after chuckling.
A lean camel is bigger than a horse, especially in the media industry. The influence of the New York Times cannot be underestimated!
"Do you have any good ideas?" After laughing, he asked with concern.
"What good ideas do I have?" Park Ji-hoon shook his head and said, "Go to see John first."
Park Min-ya's eyes suddenly lit up, as if she saw fog when she cleared the clouds.
Although they own shares in the Boston Red Sox baseball team, their foundation in the United States is still very shallow. Although they have received many invitations to events, they are probably just "novas" in the eyes of many people.
In contrast, John Henry, a native American and the largest shareholder of New England Sports Venture Capital, has extraordinary connections and influence, and is still above their current team! In particular, New York Times, a publisher of The New York Times, owns about 15% of New England Sports Venture Capital.
A simple sentence brought a turning point in the matter.
"After all, my brother is smart!" Park Min-ah couldn't help but say.
Don’t underestimate this sentence. No matter how simple it is, no matter how simple it is, others don’t think of it, it is his success!
Park Ji-hoon smiled, finished eating the chicken legs in his hand, and stretched out his hand.
Park Min-ah helped him wipe the junction between his fingertips and his nails before leaving him to wipe the rest of the body himself.
"It's not that easy." Park Ji-hoon said with a slightly frown.
He had called John Henry when he was in Belize, and John Henry seemed to have guessed his intentions. Although one of them tried to keep it confidential during negotiations with the New York Times, the New York Times obviously would not do this, and he deliberately promoted it.
John Henry's attitude is ambiguous and difficult to understand.
However, it is always a front-line opportunity.
John Henry came to the airport to pick him up in person in New York.
He is thin, his partial hair is neatly maintained, his eyes are small, his eye sockets are sunken, his eyebrows are low, he is wearing a pair of black-framed glasses, and his nose is a bit long. Although he is not that scary appearance, he gives people a very cold feeling when he has no expression! He especially likes to wear a shirt, and even at this moment, he still wears a shirt in a round-neck sweater.
"John!"
"Pu!"
After meeting, the two hugged each other gently, looking very enthusiastic and very deep friendship.
"Hello, beautiful Miss Park." John Henry and Park Min-ah also met and greeted him politely.
"Hello, John." Park Min-ah also called him John directly according to local customs.
"Pa, I have arranged a welcome banquet for you." John Henry said before getting on the bus.
He is very satisfied with Park Ji-hoon!
First of all, Qian Duo and Park Ji-hoon's friendship can play a significant role in the New England Sports Venture Capital Company he controls, at least giving people a feeling of sufficient funds. Moreover, he specializes in sports and has no conflict with Park Ji-hoon's investment company.
Secondly, Park Ji-hoon completely delegated power in the management of the Boston Red Sox baseball team, which made him very satisfied! Previously, Park Ji-hoon's invitation letter was sent to repay his favor.
Finally, Park Ji-hoon's age made him want to maintain this friendship for a long time.
The welcome banquet was arranged in his own villa.
After all the social engagements, Park Min-ah was arranged to go to rest, and the two of them talked about this incident in the living room.
Park Min-ah has no doubt about her ability, her vision and forward-looking nature are very small. However, compared to Park Ji-hoon, she still lacks a lot in terms of overall situation. She is even worse than some senior managers, who have rich experience to make up for a lot of talent. Park Ji-hoon knows this, so she has been working hard to cultivate her, arranges her to inspect the company, participate in various negotiations and investment activities, and allows her to combine theory and practice.
However, it was a bit contradictory for her to get in touch with the intrigues in this circle, but this was Park Ji-hoon's true thought.
Filling with coffee, John Henry and Park Ji-hoon sit next to each other.
"It smells very fragrant!" Park Ji-hoon picked up the coffee, took a sip, and felt a strong fragrance unique to the coffee flowing into his stomach from his throat, which was very comfortable.
"To be honest, I don't know much about coffee and I don't have the energy to study these things." Before John Henry could speak, he continued, "My criteria for choosing coffee are very simple. It suits my taste. If you drink it, it's good coffee."
"Same as me." John Henry slowly chewed his words, smiled and said, "I am the son of an ordinary farmer in Arkansas. I have achieved my current results after most of my life. Although I cannot compare with those of the top, I have always been very proud. However, after I met you, I suddenly realized how proud I am..." At the end of my speech, I shook my head directly.
"You are too complimenting." Park Ji-hoon said, "It's my luck." Without the almost miraculous mobile game "The Mysterious City of Zhilong", he wouldn't know how many years he would have to work hard to achieve John Henry's current achievements.
"The times create heroes!" John Henry said with a little emotion.
Park Ji-hoon could not refute.
"Park, almost all the United States knows about your acquisition of the Boston Globe." John Henry finally got to the point. "In Boston, there are many people who support you, but some diehards also oppose it."
"Yes." Park Ji-hoon nodded.
This is a fact.
"I mean, can we cooperate with the two of us?" John Henry pondered for a while and finally made up his mind to ask.
Park Ji-hoon's brow suddenly raised. (To be continued...)
Chapter completed!