Chapter 341: The Los Angeles Times

In the Name of the Father is a drama biography movie starring Daniel Day-Lewis and produced by Universal.

Since it won the Oscar for Best Picture, one can only say that Universal did a pretty good job with their PR this time!

"Castle Rock of Rob Reiner is collaborating with Sony on The American President, with a budget exceeding $60 million?" Arthur showed disdain on his face upon hearing Amy Pascal's report. "Who did they cast as the leads? Do they really need such a big investment for a presidential tribute film?"

Aaron Sorkin's fame surged after he adapted the script of A Few Good Men.

But, who could understand why Sony Columbia was investing so much in such a script?

"Michael Douglas and Annette Bening are the leads," Arthur wasn't the only one who couldn't understand, even Amy Pascal couldn't.

"Forget it, it doesn't matter. Sony and Panasonic have disrupted Hollywood's compensation system for years, and the day they taste their own medicine isn't far off," Arthur's Galaxy liked to collaborate with newcomers for a reason.

The price of scripts, actors, and directors being inflated couldn't be separated from this group of Japanese capital!

"Alright, don't overthink it. Tonight is a day worth celebrating for Galaxy. Several movies have won awards. Enjoy it," Arthur said, patting Amy Pascal on the shoulder before walking away.

After leaving the Oscars afterparty with Winona Ryder, the two went to the Bel Air Country Club.

Arthur had arranged to meet Otis Chandler, chairman of the Times-Mirror Company, here!

The Times-Mirror Company owns the Los Angeles Times, one of the three major newspapers in the country, and the Chandler family has controlled the paper for over half a century.

The founder of the Los Angeles Times was Otis Chandler's grandfather-in-law, who handed it over to Chandler starting from the 1920s.

American newspapers often label themselves as the "public instrument of society" and the "uncrowned king," while also promoting ideals like "objective reporting" and "political neutrality."

However, media has always been a tool for the elite vested interests.

Otis Chandler, getting on in years, sighed as he looked at the young Arthur, "I never imagined you'd rise so quickly!"

Four generations of the Chandler family couldn't rival Arthur Smith's four years of development.

Arthur waved his hand, "I came here today just to ask you one thing."

"What is it?"

"What will be the Los Angeles Times' stance on the reopening of the Whitewater investigation?" Arthur was straightforward.

Otis Chandler thought for a moment, "Initially, we will report objectively, but we will definitely support the President later on!"

Arthur tapped the table, "Before Galaxy acquires MGM, I hope the Los Angeles Times can be more impartial. Let the White House sweat a bit."

"No problem," Otis Chandler agreed without much thought. After all, reporting political scandals boosts newspaper readership.

Impartial reporting mainly meant not covering up Clinton's scandals too much. For a big client like Galaxy from the Times-Mirror Company, such a return was easy.

"Actually, there's quite a bit happening behind the scenes in Washington D.C., despite a calm surface," Otis Chandler said with a chuckle.

"Our President seems to have a fondness for Jewish people. There might be several new Jewish cabinet members soon!"

Arthur smirked, "I don't care about ethnicity as long as our interests are guaranteed. Even if a chimpanzee sat in the White House chair, it wouldn't matter to me. What matters is what we get out of it."

Otis Chandler nodded, "The party competition in California is intensifying; it's a good time!"

Arthur gave him a look, "Keep an eye on the Chicago Tribune Company. I've heard they have thoughts of merging with the Times-Mirror. The Los Angeles Times is a powerful weapon for us. You wouldn't want another mainstream paper to fall into Jewish hands, would you?"

Predictably, it wouldn't be long before the Times-Mirror merged with the Tribune Company. The Chandler family would be left without their mouthpiece, and opportunities to even meet with Arthur would diminish.

"I understand," Otis Chandler knew well that his place in high society relied on the Los Angeles Times.

Without the Los Angeles Times, the Chandler family would be irrelevant in Los Angeles.

"By the way, there's some information you might find interesting."

Arthur was puzzled, "What information?"

"The NBA's Los Angeles Lakers want to buy out Magic Johnson's remaining contract. As compensation, they are prepared to sell a percentage of the Lakers to him for $10 million.

Moreover, the NFL's Los Angeles Raiders are considering moving to the Bay Area's Oakland. The NFL's Los Angeles Rams also want to leave Anaheim. Wal-Mart family son-in-law Stan Kroenke is trying to buy Rams' shares, although he can only become a minority owner.

Additionally, your old friend Edward Roski and oil and real estate tycoon Philip Anschutz are buying the NHL's Los Angeles Kings."

All this information about the Los Angeles sports scene didn't interest Arthur much. As for someone like Edward Roski, Arthur didn't care.

Even Stan Kroenke was a nobody in Arthur's eyes, but Philip Anschutz was different!

The Anschutz family had also made their fortune in oil. In the seventies, they discovered the largest oil field in the U.S. under Anschutz Ranch in Colorado.

In the early eighties, Philip Anschutz sold half of his oil rights to Mobil, earning $500 million. Now he was a top-tier American billionaire, unlike the likes of Stan Kroenke.

"Football is not popular in Los Angeles, moving away is normal. Moreover, Los Angeles has the top club, the Lakers," Arthur had no specific thoughts; football clubs were family-run with few sales, any purchase thoughts would have to wait for chances!

Otis Chandler smiled again, "Actually, Mr. Anschutz is most interested in the Lakers. But Jerry Buss won't sell his beloved team. The new arena built by the Los Angeles Clippers downtown gave him an idea. Philip Anschutz is willing to fund a new arena for you, he just needs you to agree to let the Lakers move in!"

Arthur was speechless, thinking that Philip Anschutz was overthinking.

"Do I need money? Helping the Lakers move into a new arena would allow him to persuade Jerry Buss to sell part of the Lakers shares and become a Lakers shareholder?"

Arthur wasn't interested, "Let the Lakers stay at the Great Western Forum. Their hockey team, the Los Angeles Kings, also uses the Forum as their home arena, right?"

*****

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