Chapter 477

In Wan Chai, Hong Kong, Charles Capet smiled as he left Tencent's Hong Kong headquarters.

Standing beside him, Lily Ying asked, "Next month I have to go to the U.S. to meet with Yahoo's management. Is there anything I need to tell them?"

"Nothing specific," Charles replied. "Yahoo has a certain percentage of Alibaba shares. Back in 2007, they spent a billion dollars and acquired Yahoo China. Currently, the market value is less than 4 billion USD. Don't stress about the acquisition price. My bottom line is 7 billion USD in cash for all of Yahoo's shares."

Charles couldn't be bothered to negotiate slowly, especially since most banks here only focused on real estate and loans.

"Got it. With you leading, some banks will understand the future profits," Lily said confidently.

"By the way, I've noticed the presence of Middle Eastern capital in the Hong Kong stock market recently. Entities like the Abu Dhabi Investment Authority, Saudi Public Investment Fund, and the Oman National Reserve Fund. Middle Eastern capital is everywhere!" Charles hadn't realized this before.

Lily responded casually, "These sovereign wealth funds from Middle Eastern oil countries are involved in global stock markets, and they've been in Hong Kong's stock market for a long time."

"Middle Eastern capital has a lot of money and keeps a low profile; they don't like attracting attention!"

"Alright, I'm off now!"

...

At the Peninsula Hotel in Hong Kong, Charles met an old acquaintance from the Sony Group, Ryoji Chubachi, who had just stepped down from his position as President and Chairman of the Consumer Electronics business.

Now, Howard Stringer took on the roles of Chairman, CEO, and President of Sony.

Ryoji Chubachi retained his position as a member of the Sony Board of Directors and Vice Chairman and was in charge of the Sony B2B Solutions unit, essentially waiting for retirement.

"Mr. Chubachi, why did you come to Hong Kong? Is there something important?" Charles asked. Sony followed a dual-core strategy with the Pacific, using the U.S. and Japan as pivots.

Semiconductor R&D and manufacturing centers were mostly located in Japan, while the Film, Music, and Computer Entertainment divisions were primarily based in the U.S. and impacted the global market.

Most of Ryoji Chubachi's time was spent in Japan; business trips were infrequent. This year, Sony's debt and low sales made shareholders disgruntled. As a classic Japanese manager, Chubachi was hampering Howard Stringer's reforms, acting as an obstacle.

"Mr. Capet, the President asked me to meet you. Sony Music Entertainment is a crucial part of Sony," he said. "Sony ATV Music Publishing's importance to Sony is undeniable. We have the first option to buy Michael Jackson's 50% share in Sony ATV. Perhaps we can work together!"

Ryoji Chubachi was indeed there as an envoy. Michael Jackson had mortgaged his shares to Charles Capet, and outside observers doubted whether Michael Jackson could redeem them given Charles Capet's shrewdness.

Currently, Sony Music was the second-largest music group after Universal Music Group, along with Warner Music and EMI, making up the world's big four music groups.

Charles smiled, "I guess you also approached AEG Entertainment before. Michael Jackson is deeply in debt, so it's indeed a good opportunity!"

Both AEG and Sony Music wanted to extract value from Michael Jackson, wearing him down both mentally and physically to their advantage.

Charles took a sip of coffee and said, "Go back and drop any other ideas. Michael Jackson is signed with Capet Records now. He hasn't realized his full value yet, and I don't want to see any unnecessary reports causing losses to Capet Records.

Michael Jackson has been through enough. He knows what he can and can't change. As for the 50% share of Sony ATV, when Michael Jackson decides to sell, you will still be the first option, given the priority purchase rights!"

Ryoji Chubachi was silent for a while. "But, he wanted to change the industry rules before. He's a world pop icon. Shouldn't we do something?"

Charles looked up at Ryoji Chubachi, a hint of ruthlessness in his eyes, unclear whether he was annoyed that Sony sent a mere mascot to meet him or if he might take action if Michael Jackson continued to be rebellious.

"Are you teaching me how to do my job? Even Nobuyuki Idei doesn't have that right. It's obvious that the record market is sluggish, and Michael Jackson is in $400 million debt with high expenses. How much energy does he have for concerts and new albums? When he can't hold on, Sony just needs to have the funds ready, right?" Charles said, standing up.

"Not just Michael Jackson, but the entire record market - does it matter to me?"

"Hey, sorry Mr. Capet!" Ryoji Chubachi bowed to Charles.

"Go back and tell the folks at Sony Music to behave. The U.S. isn't a place for Sony to act recklessly!" Charles said as he left the booth, leaving Ryoji Chubachi bowing.

...

In the evening, Charles went to the Four Seasons Hotel in Central, Hong Kong, to attend a business cocktail party.

"Charles, you've been meeting with Alibaba's executives and shareholders these past few days. This cocktail party should help you relax," Xu Xiaoling said in good spirits.

Charles nodded, "Indeed. Meeting with Ryoji Chubachi from Sony at lunchtime did put a damper on my mood."

"Jackie Chan is preparing to shoot The Karate Kid remake, right? With Will and Jada Pinkett Smith as producers, and their son and Jackie Chan starring?" Charles noticed Jackie Chan and asked.

"Yes, Columbia confirmed it. Since Stephen Chow is busy with The Green Hornet, they chose Jackie Chan instead, with a budget of $25 million. Last year, Jackie finished shooting The Spy Next Door for Lionsgate. For some reason, it hasn't been scheduled - probably due to a lack of confidence!"

"He's indeed getting old. The Shinjuku Incident he shot in Japan will be released in a couple of days."

"One thing you did well was integrating Capet East Asia International. The Asia-Pacific market is well covered!" Charles praised when his subordinates did well.

Capet East Asia International, headquartered in Hong Kong, handled the entire Asia-Pacific region's operations. Capet International Cinemas had already collaborated to build over 50 digital multiplex theaters, including several IMAX theaters, planning for them to own over 100 cinemas by 2012.

*****

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