Chapter 344

This year's Easter was on April 3rd. Arthur and Monica Bellucci had a perfect weekend before returning to the company.

They heard an unexpected piece of news: Disney Group President Frank Wells had unfortunately passed away in a helicopter skiing accident in the Ruby Mountains of Nevada on Easter.

As a key figure in the Disney Renaissance, Frank Wells might not have been as dazzling as Michael Eisner or Jeffrey Katzenberg, but his importance to Disney was undeniable.

Other movie companies also expressed their condolences for Frank Wells' passing in the newspapers, including Galaxy.

At Galaxy's headquarters in Glendale, Tom Rothman came into Arthur's office. "It looks like Jeffrey Katzenberg will be the one to take Frank Wells' position as president."

Michael Eisner was now the chairman and CEO of Disney. No matter from which angle you look, with Frank Wells gone, Jeffrey Katzenberg was the best candidate for the president role based on his qualifications.

Arthur smiled, "Tom, you don't understand Michael Eisner very well. Jeffrey Katzenberg is no Frank Wells. Frank Wells' capabilities and personality couldn't compare to Jeffrey Katzenberg. His biggest role at Disney was to act as a mediator between the two strong figures at the top."

Frank Wells' presidency didn't significantly impact Michael Eisner's power.

But Jeffrey Katzenberg was different. He could challenge Michael Eisner internally at Disney.

Tom Rothman paused for a moment. "Disney's great performance in animation owes much to Jeffrey Katzenberg. If Michael Eisner does not promote Katzenberg to president, their existing conflicts will surely boil over."

"Wait and see," Arthur stood and looked out the window at the Galaxy campus. "Michael Eisner won't allow anyone to threaten his position."

Now, all they needed to do was wait for Disney's internal division.

A week later, Galaxy's comedy The Mask opened, grossing $23 million on its first weekend.

Jim Carrey, who had just appeared in Ace Ventura: Pet Detective, appeared before audiences again, increasing his fame and boosting The Mask's performance.

At the Chateau Marmont Hotel in West Hollywood, David Geffen and Philip Anschutz met with Arthur.

Arthur immediately knew why. He kissed Monica Bellucci on the cheek. "I'll be back in a bit."

On the second-floor balcony, Arthur and Philip Anschutz sat on chairs. Despite having rejected Anschutz's investment in the Los Angeles Galaxy Center, Arthur didn't know why he was still here.

"Arthur, is there really no chance for collaboration?"

Arthur smiled. "Of course, if you acquire the Los Angeles Kings, you can lease the venue at the Galaxy Center. As for anything else, it's tough. I know you want the Lakers' shares, but no NBA cities have two teams sharing an arena. Do you think that would work in a big city like Los Angeles?"

Philip Anschutz intended to develop in Los Angeles, combining sports and entertainment. He had already invested in the small movie company Anchor Bay Entertainment.

Negotiations to acquire shares of the Los Angeles Kings hockey team were ongoing, and he wanted shares of the Lakers too. His condition was to solve the venue issue.

Philip Anschutz, plump and adjusting his sitting posture, looked at Arthur. "Isn't building a sports arena by oneself too big an investment?"

Arthur remained silent. "You're a rich man from Colorado trying to make big moves in Los Angeles.

Oil, railroads, real estate, communication - Anschutz Group's investment business is quite diverse. Why the sudden shift to sports and entertainment?" Arthur suddenly asked. AEG operated two multifunctional venues in Colorado.

Now they're moving to Los Angeles, aiming to invest in Arthur's Los Angeles Galaxy? Your AEG isn't yet the world's largest venue operator. How much experience do you actually have?

Anschutz's instant offer for investment and management rights left Arthur speechless.

Philip Anschutz chuckled. "I'm quite optimistic about the future development of sports and entertainment. AEG has also invested in a Hollywood movie company."

Arthur raised his glass. "The entertainment business in Los Angeles is not the same as oil and railroads. Mr. Anschutz, if you want to operate a sports arena, you could build one. The Los Angeles Memorial Sports Arena and The Forum have been around for years and are in poor condition. Los Angeles just experienced an earthquake this year. It's a time for economic recovery, making it easier to get permits for building sports venues."

Philip Anschutz sighed. He understood this, but building a new multifunctional arena in Los Angeles would cost no less than $300 million.

How could Anschutz Group make such a significant investment? Currently, governments fund most sports venues since other investors were unwilling to spend on them.

That's why Philip Anschutz was confident about investing in the Galaxy Center, believing exchanging it for management rights would be no big deal.

But he didn't anticipate Arthur not relying on government funding. Arthur built it independently and received some tax incentives from the city government.

Facing this, there was no choice. Given Arthur's current situation, whatever he does, banks are willing to lend him money!

"It seems I oversimplified things," Philip Anschutz didn't achieve his goals in Los Angeles this time.

He decided to start with acquiring shares of the Los Angeles Kings and proceed step by step.

After talking with Philip Anschutz, Arthur found David Geffen. "How did you know each other?"

David Geffen smiled. "AEG hosts concerts at their venues. We got acquainted through that."

"Of course," Arthur almost forgot. This guy sold Geffen Records for hundreds of millions of dollars to MCA's Universal Music Group.

"The attraction of Los Angeles to the wealthy is growing," David Geffen observed Arthur.

"I heard he's interested in your sports arena?"

"It's not just the sports arena. He hopes to use a new arena to get Lakers' shares," Arthur saw through it easily. Becoming a Lakers shareholder would instantly boost Anschutz Group's profile.

"Getting shares from Jerry Buss won't be easy," David Geffen shook his head.

If it were that simple, the wealthy in Los Angeles would've made their move long ago. After all, it's an NBA elite team. How would Jerry Buss give it up?

Helping the Lakers secure a new arena... now that's a possibility!

*****

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