This star’s style is wrong

Fang Xing liked the gambling agreement the most.

For others, a 50/50 bet is just the difference between a stable and a more stable bet.

Moreover, the gambling agreement can also sign a staged gambling agreement. For example, if the first stage data is reached, the terms of the first stage will take effect.

There can be a second stage and a third stage in the future.

Of course, the further you go, the more ridiculously difficult it becomes to achieve.

The first-stage gambling requirements set by Gong Jianbin are actually not very high. As long as the drama is produced and the broadcast volume reaches the passing line, it can be met.

Of course, the requirements are easy to achieve, which means the benefits are not high.

If only the first stage broadcast results are achieved, Ark Culture can still invest in Wandou Video, but it can only acquire 10% of the shares, and it needs to use Ark Culture’s shares in exchange.

The current valuation of Ark Culture is around 10 billion, which is basically a 1:1 share exchange.

10% of the shares of Wandou Video can only be the fourth shareholder.

If it can only reach this level, Fang Xing is actually not very interested.

However, there are two stages of betting ratio later.

The second stage is for Ark Culture to acquire 20% of the shares of Wandou Video, but it will also have to exchange shares of Ark Culture at a ratio of 1:1.

In fact, this condition can barely be agreed to.

With the current development momentum of video websites, the valuation of video websites will continue to rise in the next few years, and can easily double, triple, or even triple or quadruple.

Of course, the best strategy for investment and mergers and acquisitions is to obtain maximum benefits at the minimum cost.

Therefore, the third stage clause of this gambling agreement is that Ark Culture acquires 20% of Wandou Video, of which 10% is acquired with funds, the amount is approximately 1.2 billion, and the other 10% is a share exchange.

However, the playback volume requirements for the third stage are a little outrageous. Other film and television companies would not consider the playback volume requirements for the third stage at all. The playback volume for the second stage is already a big challenge.

The overall framework of this gambling agreement can be signed, but what needs to be discussed are the details.

Of course, this merger and acquisition case cannot be settled in one meeting. It is also necessary to discuss whether the merger and acquisition is beneficial to the company's development, and then calculate the price at which the merger and acquisition is most appropriate.

…

The reason why Fang Xing is willing to discuss mergers and acquisitions with Wandou Video is mainly because of the development of Ark Culture. To continue to export film and television works, a stable broadcast platform is indeed needed.

The current largest shareholder of Wandou Video is Gong Jianbin, and the second largest shareholder is Zhishu Group.

Therefore, in the investment industry, Wandou Video is by default a smart number company.

However, since Gong Jianbin is the largest shareholder, chairman and CEO of Wandou Video, Wandou Video has strong autonomy.

Wandou Video can obtain diversion from the smart number platform.

Traffic diversion is a baseline for current video websites. Only by maintaining traffic import can the number of users be maintained.

The same goes for Penguin Video, which needs to rely on other platforms of the Penguin Group to import traffic.

In today's Internet environment, it is difficult for a website without a traffic portal to develop.

If Ark Culture acquires 20% of the shares of Wandou Video, it will become the second largest shareholder of Wandou Video, surpassing Zhisu Group in terms of shares.

This merger and acquisition case is a multi-party game.

Moreover, from the current point of view, it is a win-win situation, it depends on who wins more.

According to the three-stage play volume requirements of this gambling agreement, if the second stage play volume requirements are met, the interests of both parties are relatively balanced. If the third stage play volume requirements are met, Ark Culture will win more.

After an initial exchange of views, the first merger talks are concluded.

…

After returning to the company, Fang Xing held a high-level meeting to discuss the feasibility of the merger.

He Hongtian, director of the investment department, first expressed his opinion: "I think this merger is feasible. Video websites have developed rapidly in the past two years, and watching TV programs on video websites will be a general trend in the future.

“Judging from the company’s resources, Wandou Video is developing very well and has a high-quality content producer, Wandou Video.

“There is also a good traffic entrance, Zhishu Group.

“Therefore, judging from various data of Wandou Video, it is a high-quality investment project.

“In the investment industry, there is another strategy, which is to invest in people.

"I have known Gong Jianbin for a long time. He is capable, courageous and has a very accurate vision.

“With Wandou Video in his hands, the development prospects will not be bad.

"So, I think this merger is feasible. What needs to be discussed is the specific merger plan."

Ben Jieren is the CEO of Nebula Special Effects. He joined the company in June last year and single-handedly set up the company framework of Nebula Special Effects.

The CEO of Nebula Special Effects was introduced by a headhunter. Fang Xing met with him and both parties reached a unified goal to become the strongest special effects company in China.

With this vision in mind, Ben Jieren joined Nebula Special Effects as CEO with a salary that was not too high.

Of course, he has the option of Nebula special effects. If Nebula special effects can be developed, he will get a lot.

One of the reasons why Fang Xing wanted to invest in Wandou Video was for the Nebula special effects.

If Nebula special effects wants to develop, it not only needs to spend money, but also needs to have projects to feed it.

As a special effects company that was just established one year ago, no film and television company would hand over important special effects projects to Nebula.

Therefore, Fang Xing needs to invest in Wandou Video, and then feed Nebula special effects with items from Wandou's self-produced drama to raise it.

The high-level meeting discussed a general direction and basically determined the plan to invest in Wandou Video. The specific agreement value needs to be calculated by the investment department, film and television production department, and marketing department.

…

Regarding the merger and acquisition between Ark Culture and Wandou Video, it was difficult to hide it. After two days, everyone who needed to know knew it.

The most vigilant is Penguin Video.

Currently, Penguin Video ranks first among the three major video websites, relying on the support of its parent company. However, self-made content has not been developed, resulting in great pressure.

Other than that, there is not much difference in the strength of Taro Video and Wandou Video.

Therefore, the competition between the three major video websites is very fierce. As long as one party stays still, it will be surpassed by the other two.

There is even a Xiangguo Video that is eyeing it behind. If the top three video websites make a few more stupid moves, they may be surpassed by Xiangguo Video at any time.

Therefore, when Ark Culture and Wandou Video discussed investing in shares, Li Xueying was the first to feel the danger.

Li Xueying immediately invited Fang Xing to drink tea, wanting to hear what he said:

"Mr. Fang, are you really planning to invest in Wandou Video?"

"Mr. Li received the news so soon?"

"The hottest film and television company in the industry is discussing a merger and acquisition with Wandou Video, one of the three major video websites. A merger and acquisition of this level would make the industry tremble." Li Xueying first joked.

"I met and talked with Gong Jianbin at least once. I'm not sure whether it will work out or not." Fang Xing answered casually, with a seemingly relaxed expression.

Li Xueying continued to test: "Is this the strategic level cooperation that Mr. Fang said?"

When she originally wanted to broadcast "Dark Glory" exclusively, Fang Xing was talking about strategic cooperation with the company, which in fact probably meant holding shares.

With the subsequent results of "Dark Glory", strategic cooperation is completely worth it.

Li Xueying has been in the online video industry for so many years, and she is certain that if Penguin Video had broadcast "Dark Glory" exclusively, it would have at least widened the gap between the two companies with Wandou Video and Xiangtao Video, and even completely opened up the overseas market.

However, there are no ifs in this world.

Before "Dark Glory" aired, Li Xueying and Penguin's movie viewing group only dared to say that the show would be popular, but they didn't know that it would be so popular that the entire network would kill it.

What's more, it's not Li Xueying who has the final say, or even the president of Penguin Video, it all depends on the face of Penguin Group.

"Actually, some things were doomed from the beginning. Wandou Video was able to negotiate a shareholding because Gong Jianbin could make the decision and had the courage. No one at Penguin Video could make the decision, so it was impossible to negotiate." Fang Xing spread his hands.

Li Xueying also had to admit this.

She has worked at Penguin Video for so many years and is very familiar with Penguin Group’s investment strategies.

When Penguin Group takes a fancy to a company, it will try its best to acquire shares in the company, but it will rarely sell shares in its subsidiaries.

In fact.

Xu Guangyi, CEO of Penguin Investment, expressed to Fang Xing more than once that he wanted to invest in Ark Culture.

However, Ark Culture has developed very well and has not encountered bottlenecks. It has become a top company in the entertainment industry in one fell swoop and only has the opportunity to invest in other giants.

After meeting Li Xueying, I received another invitation from Xu Guangyi the next day.

Xu Guangyi is the CEO of Penguin Investment, and Xu Guangyi’s team is responsible for all Penguin Group’s investment plans.

After all, they are old acquaintances, so the invitation is still necessary to meet.

When Fang Xing met Xu Guangyi, Li Xueying was accompanying him, and the new CEO of Penguin Video, Qiao Zhongmin, was also there.

After all, if the merger between Ark Culture and Wandou Video is concluded this time, Penguin Video will definitely be hit the hardest.

Not only future film and television dramas, but also the copyrights of previous film and television dramas may also change.

For example, "Wulin Gaiden" has been broadcast on Penguin Video for three and a half years, and has also dominated the Penguin Video comedy category list for three and a half years.

The copyright for this drama was signed for five years, which means that the copyright for this drama will have to be re-signed in one and a half years.

If Wandou Video and Ark Culture reach a merger, then the copyright of "Wulin Gaiden" may not be available to Penguin Video.

There will also be future TV series produced by Ark Culture. If Penguin Video wants to compete, the difficulty will continue to increase.

If there are a few more TV series at the level of "Nirvana in Fire", "Dark Glory" and "Hurry Up", Wandou Video will develop very rapidly.

Therefore, Penguin Video felt the crisis. President Qiao Zhongmin, Vice President Li Xueying, and Penguin Investment President Xu Guangyi invited Fang Xing to dinner together, hoping to get a closer look.

"Mr. Fang is really stomping his feet. The film and television industry is shaking." Xu Guangyi joked first.

"I'm just planning the company's development direction, but I didn't expect to alert the three bosses." Fang Xing answered with a smile.

"It's okay not to be alarmed. Mr. Fang is going to invest in Wandou Video, and the video website structure will have to change." Qiao Zhongmin, President of Penguin Video, sighed.

"We just started talking, and we haven't even written a word yet." Fang Xing replied casually.

"Based on my general understanding of the other party, Fang Xing has always acted vigorously and resolutely. The acquisition of Huahuo Media was just a matter of one meal." Xu Guangyi joked.

"After all, it's an acquisition worth 50 million, and Boss Tao is easy to talk to. This cooperation is worth several billion, so it can't be that fast." Fang Xing said this, but in fact, when the investment department calculated the contract value, this The merger and acquisition case can then continue to be discussed.

If it's fast, it can be fast.

Xu Guangyi stopped beating around the bush and asked proactively: "Mr. Fang, do you think it is possible for us to deepen our cooperation?"

Fang Xing replied noncommittally: "This... depends on how we cooperate."

Xu Guangyi continued: "Our group has invested in Ark Culture."

Fang Xing shook his head: "It seems that this is the fourth time Mr. Xu has made this suggestion."

Xu Guangyi shook his head: "Mr. Fang, listen to what I have to say. This time it is a premium, and the premium is very large. The valuation can reach this amount."

As he spoke, he stretched out a finger and patted the back of his hand, then spread his fingers and patted again.

Fang Xing understood what he meant. This was a valuation of 15 billion for Ark Culture.

At present, Ark Culture has not really entered the investment industry, so all valuations are only calculated.

The valuation offered by the investment industry to Ark Culture is currently around 10 billion.

This valuation is actually not low.

Because Guangguang Entertainment is owned by Fang Xing and Tong Fei and does not belong to Ark Culture. Huahuo Media is indeed a subsidiary of Ark Culture, but currently there is only one popular artist, Wang Kai, and his valuation will not exceed 80 million.

Nebula Animation and Nebula Special Effects are indeed subsidiaries of Ark Culture.

However, Nebula Special Effects has only been established not long ago, and the special effects company is very expensive in the early stage. If it fails to develop in the end, it will be a pure loss.

Therefore, when calculating valuation, Nebula Special Effects is a negative equity.

besides.

Fang Xing also has a Linjiangxian Resort Villa under construction in his hometown of Baitang Town.

This resort is owned by Fang Xing personally, and part of the shares has been transferred to Fang's parents and Fang's mother.

In addition, Fang Xing also owns 20% of Songshi Records.

Based on this calculation, the valuation of Ark Culture is basically the valuation of three companies: Ark Culture, Nebula Animation and Nebula Special Effects. A valuation of 10 billion is considered a very accurate calculation.

Of course, this 10 billion valuation does not include Fang Xing’s personal value, as well as the potential of Nebula animation and Nebula special effects.

If the valuation was only 10 billion, it would be impossible for Fang Xing to agree to Penguin Group's investment.

However, Fang Xing did not expect that the valuation offered by Xu Guangyi would be at such a large premium.

actually.

For an investment like this where one party takes the initiative and the other party is indifferent, a premium is inevitable.

However, Xu Guangyi’s valuation of 15 billion was too high, a full 50% premium.

Because the premium was too high, Fang Xing didn't know how to answer for a moment: "This..."

Fang Xing was indeed shocked at first, which caused his brain to short-circuit for a moment, but he quickly figured it out.

Penguin Group's premium is so high that it will definitely add restrictive clauses to the contract, such as limiting how many movies and TV series Fang Xing has to make each year that meet the standards.

"Mr. Xu, thank you for your love, but Ark Culture does not lack funds, so there is no need for investment."

Fang Xing is now planning to acquire shares of the video website. There is no shortage of funds at all, so there is no need to invest.

Penguin Group has invested in many companies in the entertainment field, from live broadcast to film and television to short videos, investing in various fields.

That's because these companies need to burn money like crazy when they expand their markets in the early stages, and they simply can't survive without investment.

However, the development of Ark Culture does not require burning money, and it does not even require many bank loans. It only uses bank loans for the second phase of the headquarters park project.

Therefore, even though Penguin offered a high premium, Fang Xing still refused.