Chapter 283: The Ultimatum

[T/N: Chapter 282 is missing. I've searched multiple sources for this novel, but I couldn't locate it. Every website either skips the chapter number entirely or labels Chapter 283 as Chapter 282. If anyone finds a source with the missing chapter, please let me know.]

[Chapter 283: The Ultimatum]

"Robert, it's been nearly six months since we first met, hasn't it?" Eric Williams said as he set down his coffee cup, looking at Robert Shea.

"About that," Robert Shea nodded, his gaze drifting momentarily.

"Do you remember the conversation we had when we first met?" Eric asked, leaning in slightly.

Robert lifted his head. "We discussed quite a bit; are you referring to something specific?"

Noticing Robert's feigned ignorance, Eric replied, "I reminded you that time was not on our side."

Robert glanced out at the ocean view, falling silent as he once again lifted his coffee cup, retreating into thought.

Eric continued, "I mentioned that the merger trend between media groups and film companies had begun. If we didn't seize this final opportunity in the next few years, once the merger wave passed, we'd lose our chance to grow and would just be vassals to the big media conglomerates."

Robert remained silent.

With a sigh, Eric considered how he couldn't fully share some thoughts with Robert. He recalled that twenty years later, over 90% of North America's media channels would be controlled by six major media giants. If this situation arose two decades later, Eric would have no means to resist, only to comply.

But the current situation was different; media control in the U.S. wasn't highly monopolized yet. It resided in the hands of over fifty medium and small companies. Therefore, even if the major film companies combined all their media resources, they couldn't control more than a third of the channels. Although the current uproar seemed overwhelming, aside from the media that shaped public opinion, most merely followed the tide and adjusted accordingly.

Thus, Eric had some room to maneuver; he just needed to wait for his enemies to show their hand. Only then could he counterattack. The four lawsuits he faced would damage his reputation again, yet it wouldn't fundamentally harm him, much like the initial scandal, because although he was a public figure now, he wasn't wholly dependent on fame to survive. Even if he couldn't take charge of directing for a while due to this uproar, he could still lead film production through other means.

Everything he did was to secure Firefly Films.

To him, Firefly was his personal stronghold. As long as he maintained that foundation, he could grow his strength and conquer new territories. If he lost Firefly, despite his abilities, he could only manage someone else's domain, never becoming the owner.

After a stretch of silence, Robert Shea finally spoke, "Eric, I heard you might need quite a bit of money to settle this matter."

"Well, I guess," Eric nodded, beginning to understand Robert's intentions.

"Last time you paid me $60 million, and with the year-end New Line dividend, despite spending some in investments, I can still manage to come up with about $60 million."

This time, Eric fell silent. Sixty million was neither too much nor too little.

"Eric, 15% is too low. I feel that at least 25% is fair."

Eric lowered his head, silently considering the lines on his palm.

Which one signified his career line? It had to be the longest one.

After some deliberation, Eric finally looked up at Robert Shea and said, "I agree."

The two discussed specific details, and Robert left with a satisfied demeanor.

Once Robert left, Eric sighed in disappointment. He had initially hoped to integrate Pixar and Flower Films, which held many rights to previously successful adaptations, into Firefly. However, it seemed wiser not to proceed with that plan.

...

Due to John Barrymore's injury, the trial had to be postponed by a week, and for the other three lawsuits, Eric didn't need to appear in court; he entrusted them completely to his legal team.

Yet, despite his efforts to avoid the public eye during this tumultuous time, one event required his presence.

On January 20, the 47th Golden Globe Awards took place at the Hollywood Hilton in Los Angeles.

Firefly Films garnered a total of 11 nominations for titles like Pretty Woman, Running Out of Time, Steel Magnolias, and The Others, alongside the series Friends. Among the nominations relevant to Eric were the Best Screenplay awards for Running Out of Time and The Others. The Golden Globes didn't have a Best Director category; otherwise, Eric would have scored at least one additional nomination.

Had it not been for the current scandal, as someone who received two nominations before turning twenty, Eric would have undoubtedly shone on the red carpet. He even considered skipping the ceremony, but doing so would be seen as a sign of weakness to his unseen enemies. Ultimately, he decided to brave the red carpet alone without any date.

...

As he passed through the media area, Eric paused to flash a confident smile as the cameras clicked away.

"Eric, can we ask a few questions?" a reporter called out at that moment.

Eric flashed a noncommittal smile, giving neither a yes nor a no. He decided that if faced with a tough question, he would excuse himself.

"Eric, you've been out of the public eye recently. What have you been up to at your Malibu estate? Are you working on a new script?"

Caught off guard by the unexpected question, Eric struggled to think of the script amidst the chaos. Not wanting to reveal too much, he replied, "I just registered a music company. I might release a single soon."

"Could you hint at the theme of the single?"

"Mr. Williams, what's the name of your music company?"

"Eric, do you plan to ditch filmmaking for a music career?"

Initially unwilling to answer further questions, Eric rolled his eyes but replied, "It's just a side project; my main focus will always be on films."

With that, Eric decided to ignore the reporters and continued toward the end of the red carpet.

Compared to the previous year, Eric had achieved even more, but there were noticeably fewer people coming up to greet him. Most were familiar male acquaintances, while the female stars, aside from Julia Roberts, Virginia Madsen, and Nicole Kidman -- who acknowledged him per his earlier instructions -- avoided him, knowing his current reputation.

Eric didn't mind; self-preservation was instinctual for everyone.

As he waited, more stars continued to stride down the red carpet.

...

About ten minutes later, amid the cheers from fans, Eric spotted Jennifer Aniston approaching in a white strapless dress, posing for the media before heading to the lounge area.

Their eyes met unexpectedly, and the reporters surrounding them raised their cameras, eager for drama from the once-coupled pair.

"Jen..." Eric called gently, not moving from his spot. Ever since that day, he tried reaching out to Aniston multiple times; but this time, she seemed resolute, completely ignoring his calls and letters, even returning the flowers he sent.

Jennifer quickly turned her gaze away from Eric after just a couple of seconds, walking off in the opposite direction, as if nothing had happened.

Eric sighed; he didn't want to approach her in such a setting. It wasn't that he greatly cared about his reputation; he was more concerned for Aniston.

Because she had distanced herself on the day the scandal broke, she hadn't faced much backlash from their mutual friends. If he were to approach her now, rumors of a reconciliation would only bring her trouble.

...

"Eric, are you okay?" Jonathan Demme, standing beside him, noticed Eric's forlorn expression and offered support.

Eric shook his head, saying, "I'm fine."

Tom Hanks then chimed in, "Eric, I believe this will all pass."

"Of course," Eric replied with a wry smile.

...

Inside the ceremony hall, Eric sat at the table for The Others, as it was situated towards the back, allowing him to feel somewhat at ease and avoid too much attention.

Of course, the world didn't revolve around any one person. The chaos he was experiencing had little effect on the festive atmosphere of the Golden Globes. Perhaps due to prior instructions, the hosts avoided teasing him, seldom mentioning Eric's name throughout the awards.

Gradually, Eric realized someone intended to downplay his presence. Despite Firefly's 11 nominations that evening, he surmised they wouldn't secure any notable awards.

As he had anticipated, since the release window for Scent of a Woman had missed the nomination cut-off, all significant awards such as Best Musical Comedy for Pretty Woman and Best Drama for Steel Magnolias went to others. Furthermore, both of Eric's Best Screenplay nominations fell flat. Even Julia Roberts, who would have been a top candidate prior, ended up with nothing, and Virginia Madsen's nomination for The Others likewise resulted in no win, landing instead with Michelle Pfeiffer for a film Eric didn't even recall.

Ultimately, Eric lost all hope, expecting the 11 nominations to be futile. However, when the Best Musical Comedy series leading actress award came up, Aniston surprisingly won Best Actress.

Watching her give a heartfelt speech without mentioning him at all, Eric smirked coldly. Was this some kind of warning to the women around him -- break ties with Eric Williams and you could earn an award?

...

As the two-hour ceremony wrapped up, Eric had no intentions of attending the following party. Just as he was about to leave, a strange waiter handed him an envelope.

Once he settled into the car back to Malibu, he tore open the envelope.

Inside was a single sheet of paper with a series of numbers. It read 19900201.

Easy to decipher -- it meant February 1, 1990.

Eric didn't need to ponder; he knew this was the final ultimatum from the puppet master behind the scandal.

"Impatient, are we?" Eric thought to himself. In his past life, Michael Jackson faced relentless media attacks for three months. He had only been dealing with this for a month, and they were already unveiling their 'trump card'?

Reflecting on Michael Jackson, Eric noted the many similarities between Jackson's tribulations and his current predicament.

In 1993, the intense scrutiny on Jackson stemmed not just from his race but from his ascendance from a signed artist to owning 50% of Sony Records, along with coveted rights to songs from legends like the Beatles and Elvis Presley.

During the 1990s, the music industry was thriving, and the value of those song rights exceeded a billion dollars. Given that, the music industry's elites and the predominantly white Western world found this intolerable.

This led to a massive backlash, resulting in Jackson retreating from the spotlight.

Years later, in 2009, at the age of 50, Jackson planned a 50-show world tour to celebrate his career. Many assumed this was the twilight of a once-glorious career, but the reality proved otherwise. Tickets for the shows rapidly sold out within hours, reaffirming his superstar status.

Then, in a shocking turn of events, just days before the tour began, the legendary star inexplicably passed away.

Shivering at the thought, Eric realized he was fortunate not to be reborn as a black man. Despite the collusion against him by industry giants, he didn't face any deep-seated public prejudice.

...

After the Golden Globes, Eric swiftly facilitated a deal with Robert Shea to transfer another 10% of Firefly's shares while also moving the $60 million payout into an investment account in New York.

Although Jeffrey and Chris expressed concerns, urging Eric to save some cash for emergencies, Eric was resolute. He insisted Chris utilize that $60 million, along with an additional $10 million already available, to acquire as many shares of Cisco as possible.

Before this scandal, Eric hadn't valued money heavily. He believed that if he focused on steady progress, he would eventually reach the pinnacle of success.

However, the situation made him realize that in the realm of capital, money held paramount importance. It served as a shield; if he had been a billionaire prior with assets totaling in the billions, no one would dare to attack him now.

Days and weeks rolled on, and enduring the media bombardment became routine. Yet, he occasionally heard good news; many investment firms viewed Cisco skeptically. With its current valuation at only $225 million, under Chris's aggressive pricing strategy, some firms looking to acquire Cisco shares backed out.

From the initial 7% share to an increased stake, by the end of January, he had invested the entire $70 million, acquiring a total of 23%. While it seemed like a loss considering Cisco's current low valuation, if evaluated against its peak valuation of $500 billion, that stake equated to astronomical worth.

Eric understood that as Cisco grew, his ownership percentage would diminish. Still, maintaining around 10% stake would ensure a sizable fortune for him in the future.

...

As Chris utilized all $70 million, February 1 finally arrived, and the lawsuits continued to drag on unabated. The Federal Trade Commission's Los Angeles division held a press conference announcing investigations into Firefly and UTA for potential antitrust violations.

The news sparked renewed public interest, with numerous analyses flooding the press.

In Malibu, Edward Lewis hurried into the living room, taking a seat opposite Eric. Several others were already present, including Jeffrey, Robert Shea, and UTA's CEO, Kepler Hyde.

"Edward, can you start by explaining the situation?" Eric offered, pouring a cup of coffee for Edward.

After gulping down his coffee, Edward laid a thick stack of documents on the table and retrieved one, saying, "Eric, the situation is as follows: the FTC has begun investigations into Firefly and UTA. If found guilty, not only will you have to forfeit your entire stake in UTA, but you could also face hefty fines."

"How much might the fines amount to?" Eric asked, focusing on the question that mattered. Given that Columbia and Fox had simultaneously withheld substantial payments to Firefly, he suspected the final blow would be tied to finances.

Edward presented another document. "According to antitrust provisions, fines are usually 20% of the profits from the alleged monopolistic actions. However, this number is not fixed and can vary significantly. If things go well, you may not have to pay any fines at all. Simply offloading your UTA shares could suffice, but if..."

"Edward, sorry to interrupt, but you know we're not well-versed in the legalities of this. Just tell me how much I could potentially pay in fines."

"Alright," Edward Lewis sighed. "Based on the situation surrounding Firefly and UTA, you could find yourself facing fines up to $160 million."

Eric was taken aback. "How could it be so much? UTA's profits barely reach a few million."

Edward clarified, "Eric, you need to consider UTA and Firefly as one entity. Previously, both were your personal assets. I obtained some documents from Carolyn Elliott, revealing that your total receipts this year were over $400 million. When factoring in potential revenues from the five films currently in theaters, because the violations by UTA and Firefly aren't severe, there's little chance for the 20% base amount to be raised. Summing it all up, you could be liable for a maximum of $160 million."

Eric paused briefly, "What's the timeframe for imposing these fines?"

Edward understood the implication and responded, "Given the current circumstances, this lawsuit likely won't extend beyond three months. Afterward, you'd have another three months to settle any fines. Oh, Eric, I mentioned earlier that $160 million is worst-case; typically, fines are much lower or sometimes don't even exist."

"Six months," Eric murmured to himself, not wanting to ask Edward about the consequences of failing to pay the fine. It was evident -- asset freezing and subsequent auctions. His only asset was Firefly Films.

Even though the year-end films might yield profits exceeding $160 million, Eric knew that once the lawsuits began, he wouldn't see a cent from them. By the time he triumphantly concluded his lawsuits, six months would probably have passed.

Seeing the dire circumstances, Eric resolved not to dwell in uncertainty anymore. He addressed those around him, saying, "Given the situation, it's time to strike back."

Jeffrey, who had been simmering with frustration, interjected, "Eric, let us know what you need us to do."

*****

https://www.patreon.com/Sayonara816.