Chapter 471: Pay-or-Play Contract

[Chapter 533: Pay-or-Play Contract]

Sophie Marceau sat on the couch, flipping through the newspaper in her hands. "Sense and Sensibility, Leaving Las Vegas, Get Short, and Toy Story all got Golden Globe nominations, and Galaxy is holding steady."

Monica Bellucci was going to participate in the promotion for Twelve Monkeys, and she had a tight schedule. Elizabeth Hurley was set to collaborate with Jim Carrey on Universal's comedy movie Liar Liar. Both of them left Arthur's mansion in Beverly Hills.

"Not too shabby," Arthur said, showing little interest in the Golden Globe nominations. "Braveheart has a solid shot at winning Best Picture in the drama category!"

Arthur walked over, sat down, and wrapped an arm around Sophie Marceau, giving her a quick kiss. "I just had Monica Bellucci lined up to play a Bond girl in the next 007 movie; I was initially hoping you'd take a little cameo. Too bad you are not interested!"

"We'll see. Right now, I have plenty of scripts on my plate, especially the ones centered on sexiness and beauty. Besides, I just finished Braveheart and I really don't want to jump into another pretty face role so soon," Sophie said. She was focusing not only on Hollywood scripts but also on opportunities in Europe!

"By the way, do you remember that company called L Brands, the parent company of the Victoria's Secret lingerie brand?" Arthur asked while caressing Sophie.

"Sure, you said their stock was worth investing in," Sophie leaned against him. "I haven't forgotten, but I remember you invested in the Italian luxury brand Gucci? Why not keep investing in Victoria's Secret?"

Arthur chuckled, "I only have my eye on Victoria's Secret under L Brands, but the owner, Les Wexner, won't sell. L Brands does rely on Victoria's Secret for a significant portion of its business!"

Gucci was different. Investcorp S.A. was handling Gucci's listing in New York, and they planned to unload their shares then. Arthur would soon become a major shareholder of Gucci, gaining control, and later look to acquire other luxury brands to create a massive luxury goods conglomerate!

"L Brands' stock price will rise swiftly with Victoria's Secret sales. When that happens, your dividends won't be small either. A few years down the line, selling stocks could mean a big profit," Arthur said, smiling.

"And hey, we'll always have the latest Victoria's Secret lingerie to wear, right?" Sophie said, playfully touching Arthur's face!

...

With Galaxy's acquisition of CBS finalized, their listing plan was also on the table, but the brand dispute involving MGM Grand Hotel and Casino in Las Vegas came with it.

Kirk Kerkorian had renamed the Las Vegas International Hotel to MGM Grand after acquiring MGM Studios. Just a few years ago, the new MGM Grand Resort had incorporated a lot of MGM elements.

After Kerkorian's failed attempt to buy MGM Studios again, disputes over the use of the MGM brand arose.

"No matter what, we cannot allow Kirk Kerkorian to mess with the MGM brand again; the MGM Grand Resort in Las Vegas can only be a hotel!" Arthur firmly declared from the couch in his office.

"Understood. Our legal team has been in discussions with them. The current MGM Grand in Las Vegas doesn't reflect much of the film aspect anymore," Tom Rothman explained, but the huge MGM lion at the entrance was too obvious.

Still, they were currently called MGM Grand Group!

"Can't we tear down that lion?" Arthur rubbed his palms together.

Tom Rothman shook his head.

"Alright, keep a closer watch, and make sure no other MGM elements pop up," Arthur said, knowing that Kerkorian was also building MGM Grand Hotel in Macau. "Too bad, there's no chance now. All MGM brands belong to Galaxy!"

"If Kerkorian infringes in any way, I want him prosecuted to the fullest," Arthur wasn't about to go easy on a hotel group -- nowadays, Kerkorian only had MGM Grand in the mix and hadn't merged with other casinos to form a hotel entertainment group yet.

"Understood," Tom Rothman didn't mind; MGM Grand wasn't about to stand up to the giant that was Galaxy. Besides, Kerkorian's focus was no longer on running hotels, but on acquiring stock in Chrysler.

...

Meanwhile, in a luxurious mansion in Beverly Hills, Jim Carrey was sitting on the couch, putting down the script for The Truman Show. He looked seriously at his agent. "I've got to play this part! I feel like the character was written just for me!"

His agent sighed, "But The Truman Show isn't a comedy, and MGM isn't going to offer a big budget."

Jim Carrey got the drift. "I'm willing to lower my salary. The scripts I've getting now are all the same old low-brow comedies. The Truman Show could really show a different side of me to the audience!"

"What about Dumb and Dumber 2? MGM wants you to finish up sequel first," the agent said, shrugging. "This is our last contract with MGM, and they're being sincere, offering you $20 million!"

Jim Carrey nodded. "Be sure to put The Truman Show in the contract. Once Dumb and Dumber 2 is wrapped up, we can roll out The Truman Show."

"Got it! We'll demand a Pay-or-Play contract for The Truman Show from MGM!" the agent explained.

The Pay-or-Play contract ensured that no matter whether the film got made or if the cast changed, Jim Carrey, as the male lead, would still receive his full payment.

"MGM's budget for The Truman Show is $60 million. Your paycheck will be $12 million!"

"That works, but the contract must state that the release deadline for the movie is by the end of 1998," Jim was clear; he wanted to see The Truman Show in theaters the following year.

"Don't worry, Arthur Smith promised me we would shoot Dumb and Dumber 2 this year; next year, we'll make The Truman Show!"

The agent had it all arranged well. After all, Jim still had another movie, Liar Liar, to shoot this year.

"Alright," he said, rising from the couch and heading into the next room.

Comedic stars can bring a lot of laughs to audiences on-screen, but alone, it's a whole different ballgame!

*****

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