Chapter 224: Peter Chernin

"In just half a year, this family's two biggest scandals have been exposed back-to-back. Hasn't anyone from the British Royal Family come looking for you?" Arthur asked Tina Brown with a grin in the office of the Mirror Building.

Tina Brown knew Arthur was asking about the scandal involving the wife of the Duke of York, Prince Andrew, cheating.

"How could they not? Even if the Daily Mirror doesn't report it, The Sun and the Daily Mail would," she replied. "Check out how many tabloids have reprinted this news as soon as it came out!"

Tina Brown had a lot of experience and could only say that the British paparazzi were incredibly skilled; they even managed to get these kinds of photos.

Arthur laughed, "True enough. There's always news like this about the British Royal Family!"

Arthur didn't care; the circulation of the Daily Mirror soared, which he was happy to see.

In the evening, Arthur took Catherine Zeta-Jones to a banquet attended by many British celebrities and members of the media.

The stunning and sexy Catherine Zeta-Jones held Arthur's arm, feeling thrilled. She loved attending these parties, which were of a higher caliber than the ones Jon Peters used to take her to.

After all, Jon Peters was a Hollywood studio executive and mainly introduced her to some Hollywood filmmakers.

But Arthur Smith was different. Now, with the valuation of the Galaxy Group increasing by the day, Arthur's status had risen significantly, and he had become acquainted with more elites in politics and business!

Soon, Arthur ran into Peter Chernin, CEO of 20th Century Fox, who was hired back by News Corp to replace Barry Diller this year.

"Arthur, good evening. I didn't expect to see you in the UK," Peter Chernin said as he shook Arthur's hand, glancing at the beauty beside him.

"This is Catherine Zeta-Jones," Arthur introduced. "This is Mr. Peter Chernin, head of 20th Century Fox!"

"Good evening, Mr. Chernin," Catherine Zeta-Jones greeted proactively.

Peter Chernin smiled, "What a beautiful lady. May I borrow Arthur for a moment?"

Catherine Zeta-Jones knew they had things to discuss and nodded with a smile, "I'll go rest over there for a bit."

With that, Catherine Zeta-Jones gave Arthur a peck on the cheek and walked away.

Peter Chernin glanced over, "What a beautiful young lady, isn't she?"

Arthur smiled, "I haven't seen Mr. Murdoch around. That's unusual, considering the significant investment in Sky TV right now."

Especially with Sky Sports, which had just formed the Premier League this year, marking a milestone in the British football league.

"Mr. Murdoch isn't feeling well and is resting at home tonight," Peter Chernin laughed. "Also, it seems that the Mirror Group, controlled by Galaxy, is seeing soaring newspaper sales, putting some pressure on News Corp."

Arthur took a sip of his drink, "With News Corp holding titles like News of the World, The Times, and The Sun, do they really have any competition in the UK?"

"Alright, Arthur," Peter Chernin also took a sip of his drink, "I'm in charge of 20th Century Fox's film business, and I want to talk to you about developing a live-action Spider-Man movie. James Cameron has an agreement with us at 20th Century Fox, and you have the adaptation rights. Our two companies don't lack the funds for adaptation."

"How about we co-develop the live-action Spider-Man? Galaxy can handle the North American market, and 20th Century Fox will handle the international market."

As for Carolco, Peter Chernin had completely ignored that company.

Currently, in the North American film market, Warner Bros. had strong performances with Batman Returns and Lethal Weapon 3.

Galaxy's The Bodyguard and A Few Good Men were also impressive, performing very well. Even Disney's comedy Hocus Pocus, released at the end of May, had grossed over $100 million at the North American box office.

Columbia TriStar also had Carolco's hit movie Basic Instinct as a front-runner while 20th Century Fox lagged in the summer box office race, with the only notable film to look forward to being the holiday season's sequel, Home Alone 2.

"James Cameron? How much does it cost for him to make a film?" Arthur shook his head, "Did you seriously look at his Spider-Man story idea?"

Peter Chernin understood, "You're not satisfied with James Cameron's script treatment!"

There's no other way. Currently, not many in Hollywood dare to say they have better judgment than Arthur Smith.

Arthur looked at Peter Chernin with a hint of deeper meaning in his voice, "Right now, News Corp is focused on FOX TV. Are you really willing to invest over $100 million in developing Spider-Man without North American distribution rights? According to James Cameron's plan, he wants to make Spider-Man a superhero sci-fi action blockbuster with a minimum budget of $100 million!"

Peter Chernin had come to oversee the 20th Century Fox group, but helping Rupert Murdoch develop the fledgling FOX TV network was the most critical task.

If 20th Century Fox could easily satisfy James Cameron's conditions, his film The Crowded Room wouldn't have died before it even started production.

Why? Because James Cameron's The Crowded Room was clearly just a drama but required a hefty budget!

Now, the U.S. Federal Communications Commission was discussing lifting the ban on financial integration, which had long restricted Hollywood studios from owning TV networks or the other way around.

News Corp's creation of FOX couldn't make too big a move; even though it's now the fourth largest broadcast TV network in the U.S., it still lagged significantly behind the top three networks - ABC, NBC, and CBS - in scale.

There were no FOX News Channel, FOX Sports Channel, or FX Networks to help Fox conquer markets back then!

Peter Chernin smiled, "Arthur, it looks like you not only keep an eye on the film industry but also closely watch TV networks."

Galaxy's acquisition of a 20% stake in BET and ESPN proved that Arthur Smith saw potential in cable networks.

Arthur's expression was calm, "Everyone knows that next, it's surely about the alliance between major Hollywood studios and national television networks. One side can constantly provide excellent creative content, while the other has robust program distribution capabilities. Galaxy's path is still very long!"

*****

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