Chapter 459: CBS Broadcasting Network

[Chapter 521 CBS Broadcasting Network]

In late October 1995, Lawrence Tisch, the chairman of CSC Television Network, finally agreed to Galaxy's acquisition terms.

Galaxy purchased CBS, one of America's traditional three major broadcast networks, for $5.4 billion and took on $2.8 billion in debt!

...

Los Angeles, Century City, headquarters of 20th Century Fox.

Rupert Murdoch set down his newspaper on the sofa, "Arthur Smith, he's only 26 this year, right?"

Beside him, Roger Ailes shifted his hefty body and exclaimed, "He's definitely a Hollywood golden boy!"

He thought about his eldest son, Lachlan Murdoch, who was only two years younger than Arthur. After returning to Australia to manage the Queensland newspaper group, he faced constant setbacks and doubts.

Roger also felt a bit worried for News Corp; NBC was struggling, but Fox's two competitors, ABC and CBS, were different -- one became a Disney subsidiary, the other a Galaxy subsidiary.

"Our main business is developing the Fox News Channel," Rupert Murdoch looked at Roger Ailes.

"CNN is an insurmountable hurdle and is likely to belong to Time Warner. Plus, we have to keep an eye on MSNBC, which is a collaboration between Microsoft and NBC!"

Roger Ailes clearly understood Rupert Murdoch's thoughts, "The mountain standing in front of us at FNC is still CNN. I think when Time Warner merges with TBS, neo-liberalism will definitely become CNN's mainstream idea. At that time, FNC should strive to gain the support of conservative forces. News is, after all, a type of storytelling..."

For a media mogul with no boundaries between personal ethics and public responsibility, news could be manipulated at will.

Sometimes the truth doesn't come from facts, but from whose voice is louder!

...

In Glendale, Los Angeles, the media hall at Galaxy's headquarters was packed with over 400 media outlets for a press conference.

Reporters from the Los Angeles Times, Hollywood Reporter, Washington Post, Wall Street Journal, New York Times, Time, Newsweek, Premiere, USA Today, and countless others were present!

Arthur sat on stage, glancing at the heated crowd below, and pointed to a reporter.

It was from the Los Angeles Times. "Mr. Smith, Galaxy acquired CBS and became a media heavyweight. Is your focus shifting to the television station now?"

"The television station and movie production are equally important!"

"How do you plan to run CBS?"

Arthur smiled, "Are you underestimating Galaxy's production capabilities?"

The crowd erupted in cheers and applause. Arthur's confidence came from Galaxy's television department. Friends had already aired its second season, though regrettably, it was on ABC.

Arthur then pointed to another reporter from the Wall Street Journal, "At just 26, you've become a media mogul. What are your expectations for Galaxy's future?"

"Expectations?" Arthur smiled, "Galaxy isn't done yet. Hollywood is thriving, and the market is expanding. In the future, Galaxy will be the number one media group in Hollywood and even the world. This isn't just an expectation -- it's my goal..."

Young folks had to be bold; Americans loved that kind of brash self-expression. Arthur Smith's interview lasted three hours, letting the entire nation know Galaxy was set to become the best worldwide!

...

In Arthur's office, Nick Davis, the head of USA Network, sat across from him.

Arthur leaned back in his chair, pressing his fingers against his eyelids, "You manage CBS; the most important thing right now is to ensure Galaxy merges with CBS smoothly. USA Network, Starz Pay-Per-View, and BET all need to be integrated into the CBS division. Let's focus on television and variety shows first, and leave news for later!"

Nick nodded. The television field was Galaxy's strong suit, taking over CBS's production department would surely be the easiest task.

"From Disney, we heard they want to buy back the 20% ESPN stake we own."

Arthur laughed, "They must be dreaming. ESPN is growing faster than MTV -- what price could Disney pay? They just acquired ABC and are already looking to reclaim ESPN's stake?"

Nick guessed he wouldn't sell, recalling another issue, "I met with Les Wexner, the head of L Brands. He's eager to collaborate with USA to promote the Victoria's Secret Fashion Show. And it seems Les Wexner wants to get to know you, the boss!"

Arthur waved his hand, "Let's talk about that later. I don't have time for this right now."

...

Once Nick Davis left, it didn't take long for Cristiana Reali to come in.

"Congratulations, Arthur, you did it!" Cristiana Reali sat in his lap, her face full of affection.

"Hmm," Arthur kissed her directly, casually unbuttoning her shirt and reaching in to feel her softness.

Cristiana responded warmly, quietly reminding him, "Arthur, Sophie is waiting at home. Shouldn't we head back soon?"

"Yeah..."

*****

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