Chapter 157: Cable Television

Halloween in 1991 fell on November 1st, which happened to be a Friday. Columbia Pictures scheduled the release of To Die For on this day.

On the night before Halloween, To Die For held its premiere at the Mann Village Theatre in Westwood. The film's director, Peter Weir, and stars Nicole Kidman and Matt Dillon attended the event. As the producer, screenwriter, and actor, Arthur naturally couldn't miss it.

After being interviewed by reporters, Arthur went backstage. Nicole Kidman, noticing Arthur finally free, said enviously, "You're quite famous now. The media all want to interview you."

Arthur smiled, glanced at the stunningly dressed Nicole Kidman, hugged her, and said, "They're interested in my investments, not me. However, they are quite interested in our relationship."

Nicole Kidman nodded. "There aren't many promotional activities for To Die For. Two weeks later, another film I'm in, Billy Bathgate, will be released."

"Arthur, isn't Orion's The Addams Family being released a week after Billy Bathgate?"

"Yes, and Orion's promotional activities for The Addams Family are substantial," Arthur said as he and Nicole Kidman entered the theater lobby.

Soon, the lights dimmed, and the screen lit up. Arthur and Nicole Kidman sat together.

"Arthur, Mr. Sid Ganis complained that you didn't participate much in the promotional activities," Nicole Kidman reminded him with a smile. Sid Ganis and Mike Medavoy, co-presidents of Columbia Pictures, were old friends of Arthur.

"Nonsense. I attended the film screenings and TV interviews," Arthur said, pouting. "But there wasn't much investment in TV commercials and billboard posters."

Nicole Kidman thought about it and agreed. Comparing the promotional scale of Billy Bathgate and The Addams Family made it clear. To Die For was being released as an independent film, not following the mainstream commercial film promotion model.

"Arthur, have you finished the script for Speed?" Nicole Kidman asked, rubbing Arthur's leg. "I've already learned how to drive a bus as you suggested!"

"It's finished. You can pick up the script from the office whenever you have time," Arthur reassured her, holding her hand. "Don't worry, it's going to be a hit and make you famous."

Nicole Kidman's eyes seemed to sparkle in the darkness. She took Arthur's hand and placed it on her thigh. "I'll come over tonight then!"

Arthur nodded. "Alright," he said, caressing Nicole Kidman's thigh and looking up at the big screen. "You look captivating in the movie."

Nicole Kidman smiled. "Do you want to act in Speed? You said it's an action film and you like that genre. Who else are you considering? Stallone, Schwarzenegger, or Bruce Willis?"

Arthur sighed. "Those actors' fees are expensive, over ten million dollars each. Schwarzenegger and Stallone's fees are around 15 million dollars, and hiring them would push Speed's budget to 50 million dollars."

Arthur thought of Keanu Reeves. This year, he appeared in several films, mostly in supporting roles. Orion's comedy Bill & Ted's Bogus Journey, the drama My Own Private Idaho, which earned River Phoenix the Best Actor award at the Venice Film Festival, and the action film Point Break, which grossed $100 million worldwide with Patrick Swayze as the lead.

Additionally, Keanu Reeves had a role in Francis Ford Coppola's new film Bram Stoker's Dracula. Arthur's Speed was set to begin filming next year, and Keanu might not be available.

Speed had many thrilling action scenes, and young actors like Keanu Reeves, Johnny Depp, and River Phoenix might struggle with it. These guys were always in rock bars, surrounded by marijuana, stimulants, alcohol, and women.

After some thought, Arthur said, "Let's wait for The Addams Family to be released. Galaxy is looking for a director for Speed' Maybe after the new year, I'll join the cast with you. My skills are better than those young, wild actors."

"Of course, I'm very aware of your skills!" Nicole Kidman said with a hint of implication.

After To Die For ended, Arthur's investment advisor, Jim Cault, approached him at the post-premiere party.

"What's up, Jim?"

"There's a founder of a cable entertainment channel looking for funding. You might be interested," Jim said, aware of Arthur's interest in cable television for Galaxy.

"Oh, which channel?" Arthur asked, intrigued.

"Black Entertainment Television (BET), a channel aimed at African-American youth. It was founded ten years ago by Robert Johnson with funding from John Malone. Its current market value is around $100 million," Jim explained. "Robert Johnson is an African American, which makes it difficult for him to secure financing. Initially, John Malone invested $180,000 for a 20% stake and lent $320,000. Now, that 20% stake in BET is worth over $20 million!"

John Malone was the chairman of TCI, a major cable television operator.

"The FCC (Federal Communications Commission) is preparing to tighten regulations on the cable industry, especially on financing. Cable companies are heavily in debt, acquiring assets to scale up. It's understandable that Robert Johnson wants to sell part of his stake. Also, Kohlberg Kravis Roberts & Co. (KKR) is selling their 20% stake in ESPN."

Arthur was surprised. "KKR is selling their ESPN stake?"

Jim nodded. "Two years ago, KKR acquired RJR Nabisco. After taking it private, they relisted it this year as the world's largest tobacco and food company. Selling their ESPN stake might be to focus more on tobacco and food operations."

ESPN was the world's largest sports network, 80% owned by ABC, a subsidiary of Capital Cities Communications.

"First, acquire BET's shares. Galaxy has enough cash for that," Arthur decided. "As for ESPN, that's more expensive. Galaxy will need bank loans. Keep an eye on KKR's 20% ESPN stake!"

*****

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