Chapter 704: Retaking CNN

In early October, The Wall Street Journal, owned by News Corporation, reported significant news: The board of directors of News Corporation unanimously passed a resolution to split the company into two separate entities: one for film and entertainment, and the other for publishing and printing.

Rupert Murdoch, the current Chairman and CEO of News Corporation, made an important speech during the board meeting, and financial advisors presented the board with details about the split.

One of the new companies would be responsible for operating 20th Century Fox, Fox Broadcasting Company, and Fox News Channel.

The other company would handle the original News Corporation's newspaper and book publishing, education sector, and related business operations. This includes HarperCollins Publishers, Dow Jones's The Wall Street Journal, and over a hundred newspapers worldwide including The Times and The Sun in the UK.

...

In Burbank, Los Angeles, Charles saw the news in The Wall Street Journal and realized that Rupert Murdoch had finally conceded to the board.

"According to analysis, the entire process might take up to a year!" said Anne Depp, Capet's financial officer. After all, the News Corporation board will have to hold continuous meetings to discuss the specific details of the split.

Viacom's split a few years ago also took more than half a year, and the complexity of News Corporation was evidently higher than Viacom's back then.

"This morning's news saw News Corporation's stock price rebound," Charles noted, setting down the newspaper. "However, News Corporation won't be much of a threat anymore!"

NBC's TV ratings were the highest among all cable channels, and Fox News Channel's (FNC) ratings had significantly dropped, reducing its profits greatly.

In the evening, at the London West Hollywood Hotel, Charles arrived at a party in his $1.6 million black Bugatti Veyron.

Making a high-profile entrance with the glamorous Anne Hathaway, they quickly became the center of attention.

This also helped to increase exposure for Anne Hathaway's Silver Linings Playbook. Whether it was in terms of box office performance or awards, promotion was essential.

"Charles, I just got back from the Toronto Film Festival. Silver Linings Playbook received really positive reviews," said Anne Hathaway, clearly pleased with the film.

Charles, holding the girl and smiling, said, "It's only been out for half a month and North American box office has already surpassed $50 million. That's pretty good!"

After all, it was a moderately low-budget artistic film.

"Yeah, several Critics' Choice Movie Awards screenings have also been held, and my performance getting nominated for Best Actress shouldn't be a problem," Anne Hathaway encouraged herself.

"Alright, I'll find you later. I need to step away for a bit," Charles said, hugging the girl and whispering in her ear.

Anne Hathaway nodded.

Soon, Charles made his way from the London Hotel to the private club next door, where Ted Turner was waiting for him in a private room.

"Good evening, Charles," Ted Turner greeted with a hug.

"Ted, I was planning to visit your ranch in New Mexico, but it looks like you came to Los Angeles first," Charles warmly responded, hugging Ted Turner.

"Oh, I heard you're interested in the Waggoner Ranch in Texas. It's the largest contiguous ranch in the world," Ted Turner said with a smile.

"A massive integrated farm with agriculture, livestock, and oil drilling on a land size of ten thousand hectares. The Waggoner family's asking price isn't cheap!" Ted Turner continued.

The Waggoner Ranch spans across seven counties in Texas and covers more than 510,000 acres, incorporating farmland, ranches, and oil wells.

The Waggoner Ranch was seventeen times the size of Charles's Capet Ranch in Colorado.

Charles shrugged, raising his glass to clink with Ted Turner's, "Well, I do have some cash on hand right now."

"Let's get down to business: CNN," Charles smiled. At 73, Ted Turner was younger compared to Rupert Murdoch at 80 and Sumner Redstone at 88.

But why did Ted Turner, after merging Turner Broadcasting System with Time Warner, end up with just a Vice-Chairman position and lose control over CNN, which he founded?

This was because Ted Turner was completely marginalized by the Jewish executives within the group. At that time, CNN was the largest news conglomerate and a focal point.

Hollywood's Jewish capital wouldn't allow the news station to stand apart.

"CNN, huh," Ted Turner looked at Charles, "FNC is in trouble, and CNN has regained the top ratings spot among news channels. Although CNN faced a sexual harassment scandal with top host Larry King, it managed to overcome that crisis."

Charles smiled, "Ted, Hollywood isn't controlled by Jewish people anymore. I reached out because I want to help you retake CNN. Of course, if you're not interested, I'll find someone else, and if I can't find anyone, next time CNN messes with me, I'll just put them on the same path as FNC!"

Charles didn't mince words. "CNN's dirt isn't any less than FNC's."

Ted Turner was stunned for a moment. "You want me to retake CNN?"

From Ted Turner's expression, he seemed quite intrigued.

"Charles, CNN is a mouthpiece for the Democratic Party. Are you going to interfere with that?" Ted Turner knew Charles Capet was a significant supporter of the Democratic Party.

Charles smiled, "NBC, ABC News, or CBS News can all replace CNN. The Democratic Party won't lack a mouthpiece!"

Ted Turner was intrigued. "I still have some allies in Time Warner, but not enough to shake the Jewish capital within."

Charles handed Ted Turner a private business card from his pocket, "This is the phone number of the Chairman of American Investment Group. They are currently the largest shareholder of Time Warner and will fully support you in taking control of TBS Broadcasting System."

CNN and TNT are both cable networks under TBS Broadcasting System.

"Don't be like John Malone, using land merely as an investment is fine. There's no need to tie yourself entirely to it," Charles advised.

Previously, Liberty Media was the major shareholder of Time Warner but sold their shares last year.

And Liberty Media's Chairman, John Malone, is currently the largest landowner in America, with Ted Turner being the second largest.

Ted Turner smiled, "Don't worry. With American Investment Group's support, I am confident. Together, we'll gradually push Jewish capital out of Hollywood..."

*****

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