another deal in mind.

Billy saw the table of four women and sighed; in half an hour, Ronald Perelman would walk through that door. The change of plans was good but not great. Monica was reasonable; she was an expert at following the rules, staying quiet, not mentioning things, and excusing herself when necessary.

For some time now, Ronald Perelman's conviction had waned, and his constant spending had reinforced the need to make sales. The problem lay in the internal struggle. When Avi Arad's toy company invested and formulated projects, he had to play along, hoping they would be profitable. Meanwhile, Ronald Perelman was busy putting his partners in the same position—buying and taking action- so these people had no voice and were forced to make investments. This practice was slowly killing them.

Billy's purchase of Panini for $52 million had opened opportunities, but the expenses of creating Marvel Productions and Marvel Animation consumed funds like water. Spending so quickly had created significant gaps. The hiring of animators, teams, organization, and now publicity had neglected the toy company and comic business. They needed money to sustain these enterprises, which hadn't been profitable all year. The company's operation alone cost $5 million every three months, and they had a bone stuck in their throat: SkyBox International, acquired in March this year, had been hit by a strike and had only generated losses since its acquisition.

Greeting Monica with a kiss, Billy gave a cordial hello. He nodded and hugged Winona.

-Are you okay? - Monica asked.

-Why wouldn't I be... How was the photoshoot? - Billy asked, handing over a check. The payment for her services had been advanced, and this was the advance—$80,000 now, $100,000 later. That was a great offer for a photo shoot and some publicity. Top models like Cindy Crawford, Naomi Campbell, and Claudia Schiffer would charge less for such a session.

-The usual. We're having a meeting! You should join us, - Monica said, pleased, while the other women chatted attentively among themselves, each one listening closely to the conversation.

-I have time. The check is made out to the bearer, so don't worry too much. -

***

Ronald Perelman was fresh and confident that everything would work out. He just needed to secure some financing, and what better way than to sell Skylar International, bought for $35 million? If he could prolong the matter until at least 1996, he could make the purchase. He had a plan: acquire all the shares of Marvel, no matter the price, and through the mortgage banking entity in bonds, which he would buy next year, with $100 million at his disposal, he could regulate Marvel's companies without taking steps back.

That's why Avi Arad accompanied him. Avi assured that the success of Marvel Studios was in creating movies—superhero movies would be Marvel's next triumph. The appeal of superheroes was an example that success was knocking on the door.

This was sworn, through the animated series created by Billy, which were marvelous, that making toys presented an opportunity to get rich, even with the costs, licensing, and toy production being perhaps more effective than Marvel Comics.

-Even if we manage to reach an agreement with the former creators of Marvel, we will need a committed offer. Stan Lee has demanded numerous salary increases for new employees, but his work isn't as excellent as the previous ones, - Avi Arad commented, planting seeds in Ronald Perelman's mind while approaching Carl Icahn to buy Marvel Entertainment Group Inc. and gain control of Marvel more easily.

For now, Avi Arad considers Ronald Perelman to be Marvel's worst asset. Recently, Perelman started diverting promissory notes worth $100 million to sustain the investment group for the last three years and diverting 30% of Billy's payment to crude oil, an action that caused displeasure among those involved. Ronald Perelman wasn't sufficiently obligated to be part of Marvel, so he wanted to buy Billy's shares through the sale to allow him to mortgage the shares at the bank and continue his schemes.

Perelman had generated a significant amount of money with New World, from film production companies, distributors, radio companies, and the television industry. Andrews Group (Compact Video Inc.), Ronald's company, spent $1.5 billion and sold it in 1994 to Fox for more money. Why does he need money? He simply doesn't want to invest, and Andrews Group cleans up assets without reinforcing the companies it buys.

-We're doing perfectly. Next year, we'll have a compact company full of different similarities. We can reevaluate the animated productions with Saban, - Ronald commented.

-But you need to buy 100% of Marvel's shares or at least have the approval of a decisive quorum, meaning more than 83%, - Avi Arad said.

-Exactly. We hold 76% ownership, and Billy has 11%, - Ronald Perelman said, entering the building. He saw Billy surrounded by beautiful women and could only raise his eyebrows. Actors live very busy lives! All of them were simply stunning.

Billy stood up from his seat and shook hands after introducing himself, greeting him cheerfully. All were famous models. They closely followed the first agenda item, which was the approval of issuing debt bonds. The liquidity of the Andrews Group wasn't at risk; the risk was that Ronald wanted to dedicate himself to other businesses, such as Revlon, Harland Clarke, and Merisante.

-I can see the urgency, but the company is sufficient with Panini. We've expanded our production to satisfactorily respond to upcoming products. I don't see the need to buy Skybox; however, I approve, - Billy commented.

-Great! This will only bring us benefits, - Ronald Perelman said, shaking his hand.

-I hope so, Ronald, though, curiously, the debt keeps increasing, - Billy remarked, noticing Ronald's smile, which didn't indicate anything irregular was happening.

-Well, we've had a lot to handle, - Ronald commented.

....