Chapter 410

Compared to the busy Megan Fox, Charles Capet was much more relaxed. Megan Fox only stayed in New York for a couple of days.

There was a charity banquet happening at the Manhattan Club Hotel on Seventh Avenue, right across from the Capet Center building on the same avenue.

Ivanka was holding onto Charles' arm as they entered the venue at the Manhattan Club Hotel. Charles glanced at the woman's low-cut dress and joked, "It's only about ten degrees at night in New York. Are women immune to cold?"

"The banquet hall isn't cold, that's what matters," Ivanka said casually, not concerned about the temperature at all.

Even with the economic downturn and the financial crisis, there were still plenty of people in America making a fortune from the subprime mortgage crisis. The biggest losers from Lehman Brothers' bankruptcy weren't from Wall Street but overseas investors who had bought Lehman Brothers bonds.

"Seriously, it's like paradise, a paradise for the rich," Charles observed, seeing the variety of young ladies mingling throughout the banquet hall, with luxurious drinks and high-end food decking the tables.

"No, Charles, anywhere the rich go is paradise!" Ivanka smiled beside him.

"Good point. Let's take our seats," Charles replied. He and Ivanka went to their designated table; there was an auction at this charity banquet.

At their table were the Murdochs. Charles took a seat next to Rupert Murdoch, while Wendy Deng and Ivanka started chatting.

"Charles, your Arsenal is making some waves in the Premier League," Rupert Murdoch remarked, referring to Arsenal's transfer strategy that summer.

"It's decent. But the big news was when Manchester City signed Robinho for 43 million euros at the end of August," Charles chuckled. "But honestly, acquiring Arsenal wouldn't have been possible without News Corporation's support. Otherwise, Peter Hill-Wood wouldn't have been so easy to deal with!"

Rupert Murdoch nodded, "He is indeed an old-school conservative. But thanks to the support from a few major banks, it wasn't too much of a problem for you."

Charles currently owed several British banks a loan of 1 billion pounds, but he wasn't worried at all. The dollar was starting to appreciate.

"By the way, I heard that 20th Century Fox is interested in DreamWorks?" Charles inquired.

Rupert Murdoch nodded, "Well, that's Spielberg we're talking about. We don't have a Charles Capet, and our parent company, News Corporation, is also a publicly traded company. But Spielberg's terms are somewhat beyond our reach, making it hard to cooperate."

The market share in the film industry greatly affected the stock prices of Hollywood media groups. Spielberg's international influence definitely couldn't be underestimated. It was no secret that Charles Capet didn't think highly of Spielberg. In fact, even other top American directors had rarely collaborated with him.

"If nothing unexpected happens, Disney will soon sign a distribution deal with Spielberg. Universal didn't take over DreamWorks last time, and they won't now," Charles added with a smile. General Electric was already having a tough time; they wouldn't invest more in Universal Studios now.

"All the media groups are implementing layoff plans these days, but Capet Entertainment's results are outstanding!"

Rupert Murdoch had long been envious of Capet Entertainment. However, since Capet Pictures wasn't a publicly traded company, and because Charles Capet was now very powerful, there wasn't much he could do.

"Movies are just small fish. Television networks are where the big business is for media groups these days. We're in the content creation circle, but we're still behind other Hollywood giants," Charles stated clearly. Without a TV network, one couldn't claim to be a major media group.

"Aren't you a shareholder AMC Television Network?"

"I only own a small percentage. The Dolan family controls AMC Television Network, and unless they decide to let go, other people basically have no chance," Charles said, shaking his head.

AMC Television Network Group included several cable TV channels such as AMC and IFC.

Rupert Murdoch looked at Charles thoughtfully before saying, "I always knew you were brilliant with films, but I didn't expect your insight into social media to be this sharp. Twitter under your guidance is growing rapidly!"

Charles didn't respond. He glanced at Rupert Murdoch, recalling how News Corporation had bought the social platform MySpace a few years ago. At that time, Facebook had just launched.

MySpace had been the giant of social networking, but News Corporation had mismanaged it. They increased advertising, ignored user experience, and failed to innovate the system, leading to the decline of MySpace, which couldn't even compare to Twitter, let alone Facebook.

News Corporation, built on sex, violence, and celebrity scandals, was losing reputation. Without the acquisition of The Wall Street Journal last year, they would have nothing reputable besides The Times. The New York Post and The Sun were nothing but sensationalist tabloids.

"Mr. Murdoch, are you still interested in the tech industry?" Charles smiled and asked, noting that MySpace's current value was just a tenth of its acquisition cost.

Rupert Murdoch smiled slightly, "Technology is the future, and traditional newspaper sales are steadily declining. Plus, online news doesn't create much revenue, so we must prepare for the future."

"It's tricky. Most online news is free. Is News Corporation planning to start charging for online news?" Charles speculated. For The Wall Street Journal, a subscription model might work, but charging for access to The New York Post would be suicidal.

"I notice your Huffington Post is doing quite well. Any plans to sell? A specialized online newspaper would be very meaningful to us!"

Damn, so he's interested in his Huffington Post?

"Mr. Murdoch, I'm just an investing partner in the Huffington Post. The company's decisions are made by Arianna Huffington," Charles quickly shook his head. The Huffington Post was a pivotal card for Charles to gain political influence. It wasn't just about the money.

Obama's campaign schedule this year was practically live-streamed through the Huffington Post, which significantly boosted its growth.

The Huffington Post had gained both fame and fortune, and Charles wouldn't hand it over to News Corporation. Plus, Arianna Huffington was a Democrat; she wouldn't join forces with Rupert Murdoch.

Seeing Charles' expression that screamed "don't even think about it," Rupert Murdoch could only smile wryly.

Crafty old fox!

*****

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