Reborn Xiangjiang as a Tycoon

Chapter 90 Obtaining the remaining shares

Lin Baicheng had been away from Xiangjiang for several days this time, so the next morning after returning, he prioritized some official matters and quickly signed some documents that required his signature to take effect.

Fortunately, Lin Baicheng doesn't have many companies now, so he was busy for most of the morning and handled all official matters.

"Yu Feng, how are the negotiations for the acquisition of the remaining shares of the TV station going?"

After finishing his work, Lin Baicheng called Cheng Yufeng to the office.

"Originally, there were two shareholders who did not want to sell their shares, but after learning that Mr. Lin wanted to inject 50 million Hong Kong dollars into the TV station, and if they did not inject the same proportion of capital, they would have to accept the dilution of their shares, they decided to sell their shares. However,

They want you, Mr. Lin, to acquire their shares at the TV station’s valuation of HK$150 million. I’m still talking to them,” Cheng Yufeng reported aloud.

"If the TV station is valued at HK$150 million, it is slightly higher than the 20% premium, but not much higher and is acceptable."

Lin Baicheng calculated it and decided that it was more important to acquire the entire TV station. There was no need to worry about so many millions of Hong Kong dollars. Only after fully buying the TV station could Lin Baicheng better transform the TV station. With less constraints,

The development of TV stations will not be at the expense of shareholders who have no effort at all.

"Yufeng, please arrange a transaction with them and take all their shares based on a valuation of HK$150 million."

Cheng Yufeng responded: "Okay, Mr. Lin, I will contact them shortly."

In the afternoon of the same day, Lin Baicheng successively completed transactions with shareholders of several TV stations, buying the remaining 39% of the TV station's shares at a valuation of HKD 150 million for a cost of HKD 58.5 million.

In total, Lin Baicheng bought Lai's TV station for HK$178.5 million, which is about HK$60 million more than the HK$110 million to HK$120 million that Standard Chartered valued Lai's TV station, which is equivalent to a premium of about 50% for acquiring the TV station.

Such a premium is indeed quite high, but there is no way. The TV station is different from other companies. It cannot be opened by just anyone. It can only be established with the approval of the Hong Kong government, and Lin Baicheng does not think he has the ability to let Hong Kong

The government's Special Affairs Office approved him to establish another TV station.

However, Lin Baicheng himself feels that this price is acceptable and not too outrageous. Think about the Wharf stock that Lin Baicheng bought. Without his intervention, Bao Yugang's premium for acquiring Wharf in 1980 would have been more than 50

%, the chartered ship king purchased about 20 million shares at a price of HK$105 per share when the stock price was less than HK$50, which cost about HK$2 billion.

In such a comparison, Lin Baicheng spent relatively little money.

Whether it is worthwhile to acquire a company at a price much higher than the market valuation depends on what the acquirer thinks and the future development of the company.

Lin Baicheng felt that his expenditure was worth it. He was confident that the TV station would only develop better in his hands. What's more, the media attribute of the TV station was not a question of whether it could make money. Sometimes, even if it was operating at a loss, it had to be taken advantage of.

In your hands, unless the loss is really too big.

However, after spending HK$178.5 million to fully purchase the TV station and preparing to inject HK$50 million into the TV station, Lin Baicheng did not have much money left.

Originally, Lin Baicheng had more than 300 million and nearly 400 million Hong Kong dollars in cash. Zhiyin Comics used 100 million Hong Kong dollars, and the TV station and toy company used nearly 240 million Hong Kong dollars. After using all the cash, only tens of millions of Hong Kong dollars were left.

Fortunately, about two-thirds of the orders for the Los Angeles trade show have been delivered in the past two months. With the delivery of orders, the company has once again made tens of millions of Hong Kong dollars. In total, the company now has more than 100 million Hong Kong dollars left.

However, Lin Baicheng is not going to use the money to acquire companies for the time being. Even if he does acquire the target, it will be a small company like Jupiter Toy Company, and it will cost about 10 million Hong Kong dollars at most.

The reason for this is because the company now has a lot of money to spend. The development of game consoles has now begun, and the purchase of raw materials and equipment requires money. There is also a game named "Donkey Kong" led by Miyamoto So.

Research and development also costs money, and toy companies also need money to stock large quantities of Rubik's cubes.

the next day.

Lin Baicheng, who fully bought the TV station, went to Asia TV again. This time he transferred the 50 million Hong Kong dollars he injected into the TV station's special account. This money was not put in before he bought all the shares of the TV station.

, after all, the TV station did not fully belong to Lin Baicheng at that time.

Huang Xizhao is still very good at doing things. Although Lin Baicheng has only been to the TV station once before, this time Huang Xizhao has prepared an office exclusively for Lin Baicheng, his boss, and Lin Baicheng did not say that he did not need to arrange it for him.

Now that he has fully purchased the TV station, Lin Baicheng will of course develop the TV station. Improving the TV station's ratings will not only earn more advertising fees, but also achieve better publicity effects.

Therefore, in the next period of time, Lin Baicheng will often come to the TV station to work, and a dedicated office is also a must.

"Manager Huang, I bought the shares of the remaining shareholders of the TV station yesterday. From now on, the TV station will belong to me alone. In future work, the TV station no longer has to worry about the original shareholders. If there are advertisements or advertisements that require special care,

I don’t need to say much about what to do about procurement, or about employees who are incompetent but hold important positions.”

"Mr. Lin, in the past, Li's Voice was the absolute majority shareholder of the TV station, so there was no such thing."

Huang Xizhao replied, and then said: "However, in the past, Li's Voice had special requirements for the TV station to create an English channel, and then broadcast English programs from Li's Voice. Now that the TV station has changed owners, it is likely that another English channel will be established in the future.

Spend money to buy programs, so I would like to ask Mr. Lin whether the English channel should be cancelled."

Lin Baicheng did not make a decision immediately, but asked: "How are the ratings and profits of the English channel?"

"It's not bad, because the program is broadcast for free from Li's Voice, so the profit is good. However, if we need to purchase additional programs in the future, we will inevitably suffer losses. After all, there are only so many foreigners in Hong Kong."

"If that's the case, then cancel the English channel."

After hearing this, Lin Baicheng made a decision. After all, Xiangjiang is still dominated by Chinese people. It is better to forget about the English channel. There is no need to spend extra money and energy. It is not cost-effective.

Huang Xizhao didn't object after hearing this. He thought so too, otherwise he wouldn't have spoken out about it.

As for the problem that after the cancellation of the English channel, people who originally watched the English channel will have no English programs to watch, it has nothing to do with Lin Baicheng.

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(End of chapter)