Chapter 316: The Acquisition of Star Island News Group
Apart from that, when looking across Hong Kong and even Southeast Asia, the only person capable of saving the Star Island News Group and revitalizing both the *Star Island Daily* and *English Tiger News* is the young man in front of him.
If the company and the newspapers were to perish, Hu Xian would be unable to face his father in the afterlife!
After much consideration, Hu Xian reluctantly concluded that, setting aside personal biases, Xia Yu is indeed the most suitable candidate for acquiring the company.
"Well, in business, the victor takes all; it's a battlefield. Losing is losing. Just accept it!"
Hu Xian sighed inwardly.
With that thought, Hu Xian slowly lifted his head to look at Xia Yu. Xia Yu immediately became alert, realizing that the critical moment had arrived.
"Mr. Xia, selling the company to you is not out of the question, but I have a few conditions. As long as you can meet them, everything can be discussed!"
Hu Xian bit her lip and sighed, speaking slowly.
Xia Yu made a gesture inviting her to continue, saying, "Please go ahead."
"I'll explain the current situation."
"My company's accounts have been frozen by the bank, and we owe the bank 23 million HKD. Additionally, advertisers are demanding around 7 million HKD in compensation. Moreover, several advertisers have been manipulated by the Yihe Consortium to threaten me with legal action. Yihe wants to buy my company at a very low price; otherwise, they will use their means to force my company into indefinite restructuring until bankruptcy, and possibly imprison me..."
Hu Xian spoke with a troubled expression, not hiding anything from Xia Yu.
Xia Yu frowned, surprised by the severity of the situation and the involvement of the persistent Yihe Consortium.
However, he wasn't intimidated by Yihe. Although Hu Xian felt the situation was dire, Xia Yu thought it wasn't too troublesome, so he still wanted to acquire the Star Island News Group.
Or rather, he was even more determined to acquire it, as he didn't want the Star Island News Group to fall into Yihe's hands. If Yihe succeeded, it would be the most troublesome outcome for him, as the uncertainty would increase. With Yihe's resources, it was possible for them to revive the Star Island News Group, which could challenge his own position as the dominant force in the media industry with Nine Ding News.
This must be prevented. The Star Island News Group absolutely cannot fall into Yihe's hands!
Xia Yu thought to himself and solemnly gestured, saying, "Ms. Hu, I understand the situation. What are your conditions?"
Hu Xian's eyes lit up, surprised that Xia Yu still wanted the deal after understanding the situation. Her heart began to stir.
"My demands are not many. First, if I sell the company to you, you must make every effort to preserve the company and the newspapers, and develop them on par with your other newspapers."
Hu Xian said.
"No problem. I wouldn't waste money. For my newspapers, resources are shared. I will certainly do my best to develop the *Star Island Daily* and *English Tiger News*."
Xia Yu readily agreed. This condition was straightforward and easily acceptable, Hu Xian was overthinking!
Hu Xian nodded and continued, "Second, Yihe has targeted my company. If I sell the company to you, you must take over all current troubles and withstand Yihe's pressure to ensure my safety. If I end up imprisoned, you must provide 5 million HKD to my family! This clause must be written into the contract!"
Hu Xian said, staring intently at Xia Yu.
Xia Yu furrowed his brow, locked eyes with Hu Xian for a few seconds, and then nodded slowly, "Alright, I agree!"
Hu Xian's second condition was clearly to ensure her rescue; if she wasn't rescued, Xia Yu would need to give 5 million HKD to her family, which was clearly forcing Xia Yu to go all out.
Hu Xian was overthinking. Even without the 5 million, Xia Yu would go all out if he agreed, and although Hu Xian's troubles seemed significant, Xia Yu didn't see them as insurmountable.
High debts? Xia Yu wasn't worried. Once he took over, he didn't believe the bank would hesitate. Even if the bank didn't back out, he could easily manage the 23 million HKD debt. This issue was trivial.
Compensation to advertisers? That was simple too. Just around 7 million HKD? It could be paid, or if not, compensating them with equivalent advertising space in Xia Yu's other newspapers would suffice. Xia Yu was confident that advertisers would be willing to accept that.
Were the advertisers really short of money?
No! They weren't short of money at all!
If they were, they wouldn't be advertising. What they needed was effective advertising to promote their products!
Currently, Nine Ding News was the dominant force in the media industry. The advertisers cooperating with them were top-tier. Those who couldn't secure advertising space with Nine Ding News would turn to other newspapers. The advertisers for Star Island News Group were those who couldn't get space with Nine Ding News.
If there was an opportunity to acquire advertising space in Nine Ding News's newspapers, even if it wasn't the top positions or the time was limited, it would be enough for those advertisers to gladly accept it!
Thus, once Xia Yu acquired the Star Island News Group, the pressure from advertisers would instantly dissipate.
As for the final issue, Yihe's threats, Xia Yu wasn't afraid. He had connections, and even if they weren't enough, he would soon be in a major conflict with Yihe. At that time, he could use this as a condition to pressure Yihe into agreeing.
So, no matter what, Xia Yu had a way to handle it. Hu Xian's problems were not a big deal for him!
Once Xia Yu agreed, Hu Xian felt a significant weight lifted off her shoulders.
The subsequent negotiations were smooth. Xia Yu and Hu Xian agreed on the terms, and negotiations were set for the following morning. Xia Yu also instructed Hu Xian to prepare all detailed materials without any errors or omissions, to which Hu Xian fully agreed.
...
The next day, Xia Yu, along with Yan Wenhan and the legal department of the company, went to the negotiations. After intense discussions, Xia Yu finally acquired the Star Island News Group for 2 million HKD, with the conditions agreed upon the night before: he would assume all debts, issues, and risks, and ensure Hu Xian's safety.
After a series of missteps, the total assets of Star Island News Group had dropped to only 32 million HKD, with no liquid funds remaining. The total liabilities amounted to 23 million HKD, and the company's net assets were around 9 million HKD.
However, after compensating advertisers for at least 7 million HKD, the company's net assets would be roughly 2 million HKD.
Xia Yu bought the company at a net asset price of 2 million HKD. It seemed like a bargain, but the risks were significant.
Although 2 million HKD was not a large sum, if the Yihe problem wasn't resolved, the company would face indefinite restructuring, causing its assets to shrink daily. Additionally, if Hu Xian were imprisoned, Xia Yu would have to pay 5 million HKD, potentially leading to losses of over 10 million HKD in total!
Considering this risk, the 2 million HKD price was not cheap at all!
At the moment the contract was signed, Hu Xian couldn't help but feel her eyes well up with tears. It took her a while to compose herself.