Chapter 726: No Hidden Cards

[Chapter 726: No Hidden Cards]

After a record-breaking three-day weekend box office of $106 million, the day-to-day earnings of Jurassic Park 2 fell to the millions as it entered the workweek. Although this represented a 60% decline compared to the weekend, there was no doubt that the film's first-week ticket sales would easily surpass the historical high of $140 million. It took the top spot on the 1995 film box office charts without any competition. Most box office analysts predicted that Jurassic Park 2 had essentially locked in the position of annual box office champion.

Amid the dazzling brilliance of Jurassic Park 2, not many people noticed that a film called Forrest Gump was about to quietly release on June 9. Although the film received unanimous praise from critics during its early screenings, this acclaim made a few media outlets, which had begun to take notice, pessimistic about its box office prospects. After all, films that critics loved tended to be more artistic and often performed poorly at the box office.

Moreover, if there was any expectation for Forrest Gump's box office, Eric Williams certainly wouldn't allow Firefly Films to set its release date on June 9. In the eyes of the media, this was akin to placing a defenseless little animal under a T-Rex's foot -- it was bound to be crushed.

It's important to note that in order to avoid being overshadowed by Jurassic Park 2, other major film companies had all collectively decided to release their summer films at the end of June and in July. Time Warner even abandoned its previous strategy of aiming for a late May release, only leaving behind one poorly performing film, Fair Game, as the sacrificial lamb.

Once the first-day box office figures for Jurassic Park 2 rolled in, Eric shifted most of his attention to handling company affairs that had piled up during his time away from Los Angeles. Although he maintained an observer status regarding Forrest Gump's release and let Drew and Amy Pascal take charge, in this world, perhaps only he remained confident in Forrest Gump's box office fate.

Despite the film gaining a lot of positive buzz during the promotional phase, Amy Pascal ultimately only prepared 1,500 screens for Forrest Gump's opening. Eric didn't oppose this decision; as long as the movie generated the same buzz it had in the past, the box office was sure to have a long run. Starting with fewer opening screens could even create an effective hunger marketing strategy.

Due to its low profile, even though Drew had pulled Eric and Steven Spielberg over for the premiere, and the film's director, Robert Zemeckis, was a renowned director behind hits like Back to the Future and Who Framed Roger Rabbit, Forrest Gump still opened quietly.

Fortunately, the lead actor Tom Hanks and director Robert Zemeckis had established a solid reputation after their previous successful films. As a result, Forrest Gump managed to achieve a solid $6.7 million on its opening day across 1,500 theaters in North America.

When Amy Pascal reported this figure to Eric, her tone was filled with relief. With $6.7 million on the first day, she felt that reaching $25 million in the first week was not a major issue. Given the film's excellent critical reception and long-term screening strategy, the total box office could potentially approach $80 million before it left theaters.

Forrest Gump's production and distribution costs amounted to $70 million. If North American box office revenues hit $80 million, Flower Films could recoup a significant portion of their costs.

The film was positioned as an award contender. With its current critical acclaim, it could even make a push for Best Picture at the Oscars. As long as it secured a few prestigious Oscar statuettes, the subsequent overseas distribution and video sales would yield substantial returns. Although the cash return period would be prolonged, Flower Films would still profit sufficiently from this venture.

Amy Pascal's analysis of Forrest Gump's profitability was reminiscent of a thrifty housewife's approach. It was understandable why she felt this way; even though Forrest Gump was personally championed by Eric and he had created a series of box office miracles, the fear of movie risk had sunk deeply into the instincts of Hollywood executives. The film's total budget of $70 million was seen by most as far exceeding what it could commercially deliver as an art film.

However, the dramatic unfolding of events far exceeded most people's expectations.

...

After the massive first day launch, most media outlets that had only planned a brief notice about the new film were surprised to discover that Forrest Gump far exceeded their expectations.

"The movie is told through the eyes of a man with an IQ of only 75, perfectly showcasing the evolution of American society over the thirty years post-war through stunning effects."

"The three main characters in this film embody the three mainstream American spirits from twenty years ago. Forrest represents the essence of the American spirit -- simple, hardworking, sincere, and committed; Jenny represents the rebellious generation of the '60s trying to break away from tradition to find themselves, only to end up wandering into the depths of despair; Lieutenant Dan belongs to those who question society; they have their own beliefs but remain lost, unsure of the value of their convictions. In the film, the wayward Jenny ultimately chooses to return home, while Lieutenant Dan follows in Forrest's footsteps, symbolizing the reunion of three facets of the American spirit returning to its roots."

"Admittedly, at first glance, it's a seemingly absurd 'anti-intellectual film.' Yet, during the two-hour and twenty-minute viewing, I found myself inexplicably moved. It made me reflect: this nation's power is recovering, the economy is advancing, and technology is progressing rapidly, but while we pride ourselves on being smart, we fall further into materialism, completely neglecting the spiritual values we should uphold."

"What struck me most about Forrest Gump was that rain-soaked night when Jenny brought the slow-witted Forrest back to her room, dreaming about becoming famous, only to ask him what he envisioned himself becoming. Forrest, puzzled, replied, 'Why would I want to be someone else? Can't I just be me?' Ultimately, Jenny's dream shattered, leaving the world in sorrow, while Forrest, staying true to himself, gained everything that ordinary people yearn for."

As the years of the turbulent '60s and the liberated '70s passed, conservatism began making a comeback in the '80s, peaking in the '90s. Simultaneously, the excessive materialism led to a growing void in the spiritual realm, with moral decay and fading humanity becoming increasingly severe. Thus, the conservative persona represented by Forrest and his inherent qualities of kindness, sincerity, and simplicity resonated with more and more Americans longing for a richer spiritual life.

With the media's overwhelming and spontaneous promotion, a growing number of people began to take notice of the film and flood into cinemas.

"Life is like a box of chocolates; you never know what you're gonna get."

This line, destined to be a classic etched into film history, quickly spread among the audience.

Most people didn't truly grasp the profound meaning behind it; they simply left the theater feeling inexplicably touched and satisfied, quietly repeating the phrase in their minds, making it impossible to forget.

...

The explosive attention on Forrest Gump was most obviously reflected in its box office numbers.

Following the opening day's $6.7 million, the next two days saw daily increases of more than 20%, bringing the weekend total to $22.9 million. Compared to Jurassic Park 2, this box office figure may seem negligible; however, as an art film, this breakout projection invigorated everyone. After all, just two weeks ago, a similarly budgeted film, Fair Game, had only managed to pull a pitiful $6.8 million over its opening weekend.

Once workweek began, Forrest Gump's box office momentum did not wane. Though it saw a slight decline from Sunday's numbers, the daily earnings still hovered around $6 million.

In the end, Forrest Gump's first-week box office performance surpassed $47 million, leading to widespread astonishment among media outlets. This figure was nearly double or even triple what many had predicted for the film's weekly earnings. However, after the shock, many couldn't help but feel that under the circumstances of Forrest Gump becoming a cultural symbol in America, this box office number somehow felt entirely reasonable.

...

At Venice Beach, in an Italian seafood restaurant, Amy Pascal smiled as she looked across the table at Drew, who was whispering excitedly to Eric, her coffee cup in hand, sipping from it occasionally.

With the box office and critical acclaim for Forrest Gump both exploding, Amy had been in a state of palpable excitement for the past few days. She was now 100% sure that her decision to leave her position as Vice President at Columbia for this 'little workshop' at Firefly Films was the right one. If her upcoming meetings went smoothly, she would follow Sherry Lansing as the second woman to head one of Hollywood's top seven studios.

Not sure what Drew said, Eric playfully pinched her ear, pushing her away with a chuckle, then turned to Amy and asked, "By the way, how's everything going with Peter Jackson?"

Amy replied, "Although he doesn't have experience directing big-budget films, there's no denying his talent in film. We've gone through his complete vision for the Lord of the Rings series, including the script, storyboard, character design, and locations he scouted in New Zealand. We're unlikely to find anyone in Hollywood who's as passionate about the Lord of the Rings as he is. It would be perfect for him to direct this epic fantasy series. Eric, do you want to have a chat with him when you have time?"

"Not for now. Let him direct one or two films first and get familiar with how Hollywood operates. Once the timing is right, we can kick off the production for this series."

Amy nodded; she understood when Eric mentioned "the right timing" and wasn't in a hurry. The projects at Flower Films currently kept her and Drew busy for quite a while.

As they spoke, Drew chimed in excitingly, "Eric, the photos Jackson took show how beautiful New Zealand is! Shouldn't we take a vacation there sometime?"

"Sure, and let's buy a big farm and keep a few horses too."

"Ha, I don't believe you'd be interested in raising horses," Drew teased. "Maybe you could just exile some less favored models there, make them your pets on the farm?"

Without Drew bringing it up, Eric had almost forgotten about that. He hadn't heard anything about Heidi Klum in half a year. He scratched her side playfully to hush her, then asked, "How are those projects, Mean Girls and Scream, coming along?"

Drew replied, "They're already filming! Wes Craven's not keen on heading to Canada for Scream, so they're shooting at a high school in Santa Rosa, Northern California. I'll be heading there soon to film the initial scenes. Also, the Mean Girls crew went to Vancouver. Filming in Canada will save over a million dollars, and Tina went along too."

When Eric last left Los Angeles, those two films were still in the planning stages. Although it had been more than a month since then, he still felt rushed.

Amy seemed to pick up on Eric's thoughts and explained, "Eric, both films involve many high school scenes that need to be wrapped before summer vacation ends. That's why we're keeping the schedule so tight."

Having been away from school for too long, Eric had become fuzzy on the concept of student vacation dates. Although he had a clear idea of the summer box office season, it mainly leaned towards commercial terminology. Thus, it was only upon hearing Amy's explanation that he finally recognized that if they didn't shoot those school scenes before summer break, it would become a major hassle once students returned to class.

...

The three were deep into conversation when a waiter led a middle-aged man in his fifties into the restaurant. It was the current CEO of MGM, Frank Mancuso.

"Sorry, Eric, I'm late," Frank Mancuso said apologetically as he reached out his hand to Eric.

Eric stood up to shake hands and laughed, "Not at all, Frank; we just arrived early. I assume these two don't need my introduction?"

"Of course not," Frank Mancuso said, shaking Drew and Amy's hands. He complimented, "I recently made it a point to see Forrest Gump; it's truly an outstanding film that leaves a lasting impression."

"Thank you for the recognition, Mr. Mancuso," Amy smiled and nodded.

Once Frank Mancuso settled into his chair, he added, "Just call me Frank. Amy, we know each other reasonably well now, don't we?"

Amy nodded, "Of course."

"Let's order first, Frank. I've had lunch here before, and their pan-seared bass is quite good; you should give it a try." Eric took the menu from the waiter and made the recommendation while reminiscing about the first time he had dined there two years ago, alongside Nicole and a fresh-faced waitress whose gaze had made him feel a bit uneasy.

After placing their orders, and as soon as the waiter left, Eric got straight to the point, "So, Frank, has Kirk Kerkorian made an offer on MGM yet?"

Frank Mancuso nodded, "$1.5 billion, and Kerkorian seems quite eager -- he wants to finalize the deal before July. However, Credit Lyonnais hasn't responded yet. They seem to be waiting to see how GoldenEye and Night at the Museum fare at the box office in July. I've also heard that the French company Vivendi has been in touch with Credit Lyonnais, but I don't know their offer."

While Credit Lyonnais was a universal bank in France, they never intended to be involved in the entertainment industry. Years ago, a twist of fate led them to become the majority shareholder of MGM due to a financial scam perpetrated by an Italian consortium. The court confiscated and used MGM shares to repay the enormous debts owed by the Italian consortium.

Since the bubble-like expansion that began in the late '80s, Credit Lyonnais had temporarily become the largest bank in Europe. However, after the financial bubbles burst in recent years, they suffered massive losses due to bad debts, amounting to hundreds of billions, and they had almost reached bankruptcy.

Despite MGM showing signs of recovery, under pressure from the French government and shareholders, Credit Lyonnais was still anxious to divest its shares in MGM and convert them to cash to alleviate its financial shortfalls.

Eric guessed that $1.5 billion was likely higher than the amount Kerkorian paid to regain MGM in his previous life, yet it still seemed reasonable.

Although MGM appeared to be on the verge of revival, it was apparent to anyone with insight that beyond the James Bond series, control of lucrative franchises such as Charlie's Angels, Resident Evil, and the upcoming Night at the Museum didn't belong to MGM. While MGM's operation had stabilized over the last two years, the massive debts left by Kerkorian didn't seem to diminish significantly.

"Frank, you could reach out to the relevant people at Credit Lyonnais. Our offer is also $1.5 billion; let them send someone to the negotiation table. I know they are in desperate need of funds, and we can pay the entire acquisition amount in one lump sum."

Frank Mancuso looked over to Amy and Drew as he said, "Eric, is it Firefly Group?"

Eric shook his head and replied with a smile, "No, it's Flower Films. Firefly Group won't get involved with MGM in that way."

Eric's casual remark sent a shiver down Frank Mancuso's spine. Eric didn't want Firefly Group to get entangled in MGM's ownership disputes, which was easy to understand; he was cautious about encountering monopolistic barriers due to future expansion by Flower Films with the stake from Firefly Group.

Given the current scales of Flower Films and MGM, to reach the level of a monopoly would typically require a decade or more of rapid development. But in this world, miracles weren't lacking. That little 'Firefly' had managed to grow into a giant in just seven years.

After considering his words carefully, Frank Mancuso asked, "So, Eric, how does Flower Films plan to run MGM post-acquisition?"

Eric didn't answer but simply gestured towards Amy.

Amy smiled, knowing Frank Mancuso was concerned about the arrangement for the original management team following the merger. "Frank, after the merger, I hope you can continue to stay on and primarily oversee the distribution of our films in North America and globally."

Frank Mancuso was primarily responsible for distribution at MGM, as the company hadn't produced any significant films in recent years besides the Bond series. He didn't yearn to replace Amy as the CEO of the new company, so he was satisfied with this arrangement. He nodded and turned to Eric, "Eric, while a $1.5 billion offer isn't low, I think if Vivendi and Kerkorian join in the bidding, the final price could potentially rise to $1.8 billion. In principle, Credit Lyonnais will certainly sell MGM to the highest bidder."

Eric shook his head with a smile, "Frank, I don't think Credit Lyonnais has any principles. They have no trump cards; they can only choose to accept or decline the deal. If they insist on selling MGM to someone else, I'll immediately terminate all collaboration between Firefly Films and DreamWorks with MGM. Without rights to distribute films like Charlie's Angels, Resident Evil, and Night at the Museum, MGM would immediately revert to being an empty shell like a few years ago. At that point, I don't believe anyone will still want to offer them $1.5 billion."

Just imagining such a scenario created an intense sensation of helplessness within Frank Mancuso. He knew all too well that this situation was absolutely untenable for Credit Lyonnais. Although MGM had already signed distribution contracts with DreamWorks and Flower Films, there were countless methods in Hollywood for Firefly to achieve its goals without 'violating' those contracts.

At the same time, Frank Mancuso also definitely didn't want Kerkorian to regain control of MGM. That gambling tycoon was merely a vampire with no serious interest in filmmaking. Like Ron Perelman of Wall Street, he was focused on financing through bond issuance whenever MGM had a healthy-looking operation. Then he would find ways to line his pockets until MGM was teetering on bankruptcy again, at which point he would sell it off without a second thought. The massive debts weighing down MGM now were merely the aftermath of Kerkorian's repeated opportunistic practices in the '80s, with huge interest payments making it impossible for MGM to carry on.

Currently, he wasn't aware of the state of Paris-based Vivendi, but he believed teaming up with Firefly Films was probably MGM's only way out.

Once merged with Flower Films, he trusted Eric would likely integrate DreamWorks into the new company as well. Given the ownership of profitable franchises such as Mission: Impossible, Charlie's Angels, Night at the Museum, Resident Evil, and the James Bond series, MGM would soon regain its vitality and once again become a powerhouse in the film industry.

Feeling a pang of excitement at the thought of personally participating in MGM's revival, Frank Mancuso said to Eric, "Eric, I'll convey your message to Credit Lyonnais."

Eric nodded in satisfaction before the pleasant mealtime continued.

...

An hour later, after Frank Mancuso left the restaurant, Eric, Amy, and Drew remained, diving into discussions about Eric's detailed plans for Flower Films' future.

Unbeknownst to them, the afternoon rolled into sunset with the beach aglow in orange hues. Just when Eric was about to lead the two out, his phone, which had been sitting on the table, rang.

"This is Williams," Eric picked up the phone, chatted for a moment, nodding occasionally. Moments later, a playful smile spread across his face as he looked at Amy and Drew opposite him and asked, "Do you guys know Godzilla?"

*****

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