Chapter 836: 841

The merger negotiation between GE and Time Warner is still in the process, and another merger of large media industry has been finalized again.

On September 11, Westinghouse Electric and CBS group held a joint press conference at CBS headquarters in Rockefeller Center, New York, announcing that Westinghouse Electric would acquire CBS group with a cash offer of $9 billion, and undertake a total debt of $1.9 billion of CBS group, with a total transaction amount of $10.9 billion.

Some time ago, when the news of danilisi Entertainment's intention to merge with CBS group spread wildly, the market value of CBS once peaked at $8.7 billion. If the deal comes true, danilisi entertainment will hardly win CBS within the $11 billion offer.

Danielis entertainment turned to Metro ABC Group with a bluff, and CBS's share price plummeted. In this transaction, Westinghouse only gave a 23% premium on the share price before the announcement of the acquisition, excluding debt. The acquisition amount of $9 billion was $2 billion less than CBS's expected offer.

This is taken for granted by many media.

How can Westinghouse, with a market value of just over $40 billion, compare with danielis entertainment?

Since we can't catch up with danielis, we can sell $9 billion, which is a high price compared with CBS, whose market value is still around $5 billion at the beginning of the year.

With the announcement of CBS's change of ownership, it is basically announced that the three old TV networks in the United States are all attached to the large enterprises, and it is unlikely to change again in the short term. People who have a keen sense of the media industry are more aware of another significance behind these changes.

The monopolistic division of public television network by large enterprises.

Although the market share of public TV networks is constantly eroded by cable TV, no one can deny that the three old TV networks play a crucial role in influencing and controlling American public opinion.

These are the three loudspeakers that can advertise all over the country. They are more powerful than any traditional paper media.

With the rise of the Internet, the decline of print media and the partition of public television networks, the media industry in the United States has returned to the era of oligopoly from the blooming of a hundred flowers for decades before the 1990s.

Monopoly means the loss of freedom.

Loss of press freedom.

However, this industry trend of long separation and integration can not be stopped by anyone.

On the other hand, Viacom group, another "suitor" of CBS, lost in the merger dispute. When the merger of Westinghouse Electric and CBS group was announced, the share price fell by 6.1% on the same day. It missed the opportunity to transform CBS into a media giant. Viacom's future fate is likely to be the acquiree, and it is unlikely to make any big changes The expansion of the scope.

Angrily, samer leishidong said publicly that afternoon that he would file a lawsuit against Westinghouse Electric and CBS group, accusing the two companies of cheating Viacom in the process of merger and acquisition negotiations, and intended to prevent the final conclusion of the merger and acquisition at all costs.

The outside world is at a loss.

Simon got the news, but leishidong was tricked by Larry Tisch, the major shareholder of CBS, in the process of transaction negotiation. Tisch promised leishidong that as long as he raised the offer to US $9.2 billion, he could agree to the other party's share exchange and merger offer. The two sides reached a tacit agreement, and in a twinkling of an eye, they put the news to Westinghouse, forcing Westinghouse to raise the offer to US $9.9 billion at the last moment from the previously determined US $8.7 billion 100 million dollars.

It seems that it is still not as high as Viacom's $9.2 billion offer, but Westinghouse's all cash trading plan.

In the process of M & A, unless the two companies are very optimistic about the development prospects after the merger, otherwise, most of the shareholders of the acquired enterprises will tend to get more cash for security.

Viacom will raise its offer to US $9.2 billion. On the surface, it seems that it can let the original CBS shareholders get more shares of the new company after the merger. The problem is that no one can guarantee how the new Viacom will develop after the merger of the two companies, in case the share price plummets?

know that because the two companies are panic buying at the same time, CBS shares are seriously overestimated, and the bubble will probably be crushed after the merger.

Therefore, as long as it's not too stupid, we know how to choose between the stock exchange M & A of US $9.2 billion and the all cash acquisition of US $9 billion.

As for Lei Shidong's impatience, the result can only be impatience.

Being fooled is being fooled.

Even if the prosecution is true, it will only become meaningless entanglement.

After all, the two sides did not sign the contract.

In the final analysis, Viacom itself is unable to raise enough cash from Wall Street for the acquisition, which is also the result of the quiet development of the westero system. Simon didn't want to see Viacom acquire CBS from the beginning.

Westinghouse and CBS group reached a merger and acquisition agreement at the same time, another much smaller deal was officially finalized.

After more than two months of low-key negotiations, cersei capital's Apollo management company won IBM's battery R & D and production department at a price of US $1.25 billion. This part of the assets includes IBM's five battery R & D teams in North America and overseas, three battery factories in New York, Mexico and China, and, most importantly, A large number of battery related core patents.Simon through Apollo management company in the name of this transaction, mainly to facilitate the split.

At the present stage, IBM's battery R & D and production department mainly produces traditional washable nickel cadmium batteries for IBM's notebook computers and other electronic products. This is true of the two factories located in Mexico City and Guangdong, China. Only a battery factory just established in New York State last year is used to produce the latest lithium-ion batteries with large scale Far less than the two large battery factories in Mexico and China.

Simon won IBM's battery R & D and production department mainly for lithium batteries.

As an old electronics giant, IBM's foundation is no less than that of a group of cutting-edge electronics manufacturers in Europe and Asia. After Sony first launched commercial lithium-ion batteries in 1992, IBM also completed the development of related products last year, and established a lithium battery factory in Albany, New York.

After Louis Gerstner was appointed to take charge of IBM in 1992, he has been streamlining the huge and bloated IBM. IBM's battery department is not a burden to the old giant, but it is not a core business. The revenue and profit achieved by IBM are not high, and it is a part of the assets that can be stripped off and retained.

When the Westeros system offered an olive branch, Gerstner quickly agreed.

The head of IBM originally hoped to take advantage of the vistro aura. Just as Welch only wanted to sell half of NBC's shares at the beginning, he changed IBM's battery department from a sole proprietorship to a joint venture with vistro system, in which IBM only owned shares and the operation was handed over to vistro system.

In other cases, Simon would agree.

It's hard for independent battery suppliers to survive independently. They definitely need customers to keep IBM's shareholding. In the future, battery companies will naturally get a large number of orders from IBM.

However, since Simon only wants IBM's lithium battery R & D team, patented technology and product factory, and is not interested in the mainstream heavy pollution nickel cadmium batteries at this stage, it is not feasible to keep IBM's shareholding.

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Simon himself and Gerstner through several phone calls, the other party finally let go, promised to completely hand over the battery department to Apollo management company for operation. At the same time, Simon agreed to give IBM group a 25% stake in battery company recycle, a battery company directly established by westero company.

This is also Simon's positioning for the new company.

New technology.

Recttery's headquarters will also be set up in Silicon Valley.

Mainly to take advantage of the new technology industry.

After taking over IBM's battery division, Apollo management will spin off all the R & D teams, patented technologies and product factories related to lithium batteries and resell them to recttery, and then operate the remaining traditional nickel cadmium battery business on its own.

Even if lithium battery is the inevitable trend in the future, traditional nickel cadmium battery still has a life cycle of at least 10 years. At present, it is the mainstream equipment of various portable electronic products, so it is not difficult for this part of business to make a difference.

As a sub department of IBM, he was dragged down by IBM's solidified system for a long time. This is not something that Gerstner can change in just three years. After the completion of the split, the nickel cadmium battery business will also set up a separate company. Apollo management company plans to provide enterprise efficiency, expand production, and strive for more market share through several years of operation. Then, it will either package and sell, or choose to go public, and finally cash out.

A standard private equity M & A operation.

At the same time, it inherits IBM's complete set of lithium battery R & D team, patented technology and production plant, and is no longer constrained by IBM's bloated and huge enterprise system. There is also a wide range of potential demand from IBM, tincobell and even Nokia. It does not need to worry about market problems. Rectery can devote itself to the research and development and production of the latest lithium batteries.

A lot of things are happening all the time in this world.

In recent years, the American public has gradually found that more and more big events around them seem to be related to the westero system.

Because the subsequent split and reorganization plan is not known, Simon's potential layout is even more confidential, and IBM's sale of the battery department did not cause much trouble. On the contrary, another flas * * relying on igritte's Facebook social network went online, and won the attention of the whole people.

This is happy ranch, which has been shelved for a long time in order to maintain the status of happy farm.

In fact, it is also to build momentum for igritte's IPO roadshow.

Although the IPO companies have to enter a silent period of several months after submitting the prospectus, it does not mean that a company can not stimulate the market through some commercial operations.

Therefore, happy ranch, which is fully connected with happy farm, went online on September 22.

Just 18 months after happy farm went online.At the beginning, the game operation team of "happy farm" decided to launch "happy Ranch" when the game began to go downhill, so as to provide timely help, rather than icing on the cake. At the beginning, the estimated online time of "happy farm" was about 12 to 18 months after its opening.

As a result, under the careful care of the operation team, the life cycle of happy farm is far beyond many people's imagination.

The operation team initially predicted that the peak user scale of happy farm should be around 100 million. By the time happy farm went online, the total user scale of happy farm has reached 149 million worldwide. Even if the game revenue has passed the peak period, with the huge user scale of the whole nation, happy farm has been in the last week before happy farm went online 》Through the sale of props, it still brought in $21.79 million.

This is the 11th consecutive month since the weekly revenue of "happy farm" exceeded 20 million in November last year. At the Easter activity at the beginning of the year, "happy farm" also set the highest weekly revenue record of 33.12 million US dollars.

According to comprehensive statistics, in the 18 months since its opening on March 25 last year, happy farm has made a total of US $1.376 billion.

It's a miracle.

Although it can't be compared with Simon's memories of the games such as "fairy dream treasure" and "Super Mario" that bring billions or even tens of billions of dollars of revenue to game companies, the problem is that the revenue brought by those games is the revenue accumulation of the whole series of decades and even the surrounding areas.

Happy farm, which also belongs to the phenomenon level, is just a game without sequel. Moreover, the revenue of the game exceeded 1 billion US dollars in less than two years.

It's no surprise that such a brilliant performance is far beyond the farm games in Simon's memory.

This is because it is a game that igrit, who occupies the majority of users in the global Internet market at this stage, gives its full support.

As of September 1995, the number of Internet users in the world has been close to 400 million, which is different from the diversification of the Internet industry in the past. At this stage, the global Internet users can hardly avoid igritte, so it is impossible to bypass happy farm.

Moreover, the game has been successful since it was launched last year. Although the initial development cost is only US $1.5 million, the two giants, danielis and igritte, have spared no effort in the follow-up investment of the game.

In order to ensure the internal "ecological balance" of the game to the greatest extent and avoid the disadvantages of too much output or too fast upgrade of virtual goods, the operation team specially recruited a team composed of top mathematicians and sociologists, who are responsible for the research and statistics of various data involved in the game and continuous optimization, sparing no effort to ensure the user's game experience.

In order to make the planting activities in the game closer to reality, "happy farm" also has a team of botanist consultants.

It is in these details spare no effort to improve, "happy farm" 18 months after the launch, although the growth rate of users continues to slow down, but there is still no obvious decline, it has become an indispensable national level entertainment for Internet users when they surf the Internet.

The launch of "happy Ranch" is mainly to build momentum for tincobail's IPO.

In addition, there is also the consideration that Denise entertainment will launch its first annual financial report next month. After last year's IPO, Denise entertainment adjusted the group's financial statistics cycle from the natural year to October to September of the next year, which is more in line with the schedule law of the entertainment industry.

Because it is a game directly linked with happy farm, some props and virtual currency of happy farm can also be directly used in happy ranch. Therefore, although it is a seemingly simple flas * *, it has become a collective carnival on the whole Internet platform since it was launched on September 22.

September 22 happens to be Friday.

After the large-scale publicity in the early stage, happy ranch was launched on time at 8:00 p.m. that day. As of 8:00 a.m. the next day, in 12 hours, the number of active users of happy ranch exceeded 40 million.

Then, as of 12:00 p.m. on Sunday, September 24, and three days on the weekend, the number of activated users of happy ranch smoothly exceeded 100 million, and finally reached 107 million, which is equivalent to that more than two-thirds of 149 million users of happy ranch have opened happy ranch. The operation team announced on the official Facebook account of happy ranch at 12 o'clock on Sunday that the number of users applying for the game will exceed the Guinness record of 100 million as soon as possible.

On the first weekend of its launch, "happy Ranch" also made a good start in its revenue, directly breaking the record of $33.12 million a week set by "happy Ranch" during Easter in the first half of the year. In three days, the revenue of the game reached $36.75 million, successfully becoming another cash cow of Denise and igritte who made more money than drug trafficking.

When the new week comes, "happy Ranch" has become the most popular topic of discussion in various media, and this influence has also been transmitted to the capital market, which has brought about the sharp rise of Denise Entertainment's share price on Monday.

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