Chapter 101: Golden Globes

With the release of The Godfather Part III, the reviews weren't entirely negative, but compared to the first two films, it fell short.

Moreover, despite opening in 1,850 theaters, its first weekend box office was only $6.3 million.

San Francisco Chronicle: "It's a slow-paced, extremely disappointing film."

Variety: "Anyone who remembers The Godfather and its 1974 sequel, The Godfather Part II, will be horrified at how Coppola reduced their powerful portraits to daytime soap opera level!"

"Winona, look at this. Sophia Coppola won two Golden Raspberry Awards for Worst Supporting Actress and Worst New Star for her role in The Godfather Part III," Arthur said, handing the newspaper to Winona Ryder.

"But The Godfather Part III got quite a few Golden Globe nominations, didn't it?" Winona Ryder took the newspaper from Arthur and glanced at it. "It shouldn't be that bad, right?"

"That depends on what you're comparing it to," Arthur said, standing up from the sofa. "The Godfather Part III has made just over $50 million after three weeks in theaters, despite being shown in 2,000 theaters. Many theaters will likely drop it next week.

Francis Coppola really lost face this time. You know how successful The Godfather and The Godfather Part II were. Just look at the box office and reviews for The Godfather Part III — it's a double failure."

Winona Ryder shook her head, puzzled. "But Sophia Coppola didn't have a lot of screen time. Why is there so much negative press about her?"

"Because her last name is Coppola, and her father forced her into the role," Arthur laughed. It seemed his prior preparations had paid off, as many people sympathized with Winona Ryder.

Meanwhile, due to the success of Sleeping with the Enemy, Arthur earned $2.25 million from the film. After deducting agent fees, he pocketed $2 million, which he used to buy a new Acura NSX sports car after selling his Ford to a second-hand dealer. 

The 1991 Golden Globe Awards were held as scheduled at the Beverly Hilton Hotel. Arthur and Winona Ryder attended the event together.

"Let's go," Arthur said, leading Winona Ryder onto the red carpet and into the Hilton Hotel lobby.

"Is everyone here?" Winona Ryder had two films to promote, Edward Scissorhands and Mermaids, so she needed to greet both crews.

"They're over there. Let's go," Arthur quickly spotted Johnny Depp, who was nominated for Best Actor in a Musical or Comedy for the first time, competing with Gérard Depardieu, Tom Hanks, and Macaulay Culkin.

"Arthur, Winona," Johnny Depp called out as he walked over to them.

"I thought you'd be at the bar next door," Arthur joked.

"Don't worry. After the awards, we can hit the bars and celebrate. There'll be plenty of parties tonight," Johnny Depp, known for his love of alcohol, replied.

"You two chat. I'll go over there for a bit," Winona Ryder said, spotting members of the Mermaids crew.

After she left, Arthur chatted with Depp for a bit before heading over to the Sleepless in Seattle crew. Sleepless in Seattle was nominated for Best Motion Picture – Musical or Comedy, Best Actor, and Best Actress.

The Golden Globe Awards were held as a dinner event. Sleeping with the Enemy and Mermaids were both distributed by Orion Pictures, so Arthur and Winona Ryder sat together.

However, Arthur mainly discussed Orion Pictures' matters with Jack Brady. "Did the creditors agree to my terms?"

Jack Brady nodded. "Basically, yes. But they want to retain the right to convert debt to equity and increase the recovery priority."

Arthur chuckled, pouring himself a drink. "If they don't sign the equity transfer agreement by the end of the month, I'll walk away from Orion Pictures. The Dai-Ichi Kangyo Bank has already led a group to give Galaxy Pictures a $40 million fund loan. For me, acquiring Orion Pictures just means getting more comprehensive distribution and production departments.

If the creditors can't see that, they can wait for the bank to liquidate. Sign the transfer agreement by the end of the month. I'll assume the $100 million debt. That's my final offer!"

Arthur could wait until Orion Pictures went bankrupt and then negotiate with the bank. But in bankruptcy liquidation, some crucial assets of Orion Pictures might be lost, like the rights to The Addams Family and RoboCop.

"The end of the month is the deadline?" Jack Brady was surprised. "Less than a week?"

Arthur was calm. "Orion has a lot of junk to clear out. The longer it takes, the more movies get released and the more losses accumulate. I don't have time to waste. The sooner I take over Orion, the sooner I can deal with those garbage films."

Faced with Arthur's sarcasm, Jack Brady was helpless. It was true that Arthur looked down on the films Orion was planning to release.

"Arthur, isn't one week too short?"

"It's not. I mentioned this last year. Who knew you'd take it so lightly?" Arthur shook his head.

"Maybe you can hope for Orion's upcoming releases to be big hits and negotiate with the bank for a few months' delay in repayments."

"I don't care. Galaxy Pictures can find a distributor faster than finding a lady of the night. MCA Universal, Columbia TriStar, and others want to work with me!"

Why couldn't these creditors see their position? Didn't they understand Orion's situation?

"Alright, a week it is. I think it should be doable," Jack Brady, hired by the creditors' alliance, knew that if Arthur gave up, finding another buyer would be impossible. If the bank liquidated, the return on investment would be a gamble.

"Good. You're wasting not only my time but also the creditors' money," Arthur pressed.

Jack Brady smiled. "Excuse me for a moment," he said, leaving the awards dinner.

As time passed, Ghost won Best Supporting Actress, Julia Roberts from Pretty Woman won Best Actress in a Musical or Comedy, Green Card won Best Actor in a Drama, and Dances with Wolves won Best Drama and Best Director.

*****

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