Chapter 498: Steve Burke

The Eiffel Tower at night was much prettier than during the day. The colorful light show was always a point of pride for Parisians.

Charles dined with Liu Yifei at the top of the Eiffel Tower, enjoying the Paris night view.

"How about we go shopping on the Champs-Elysees tomorrow? It's a great place for that," Charles put down his fork and wiped his mouth, asking Liu Yifei who was sitting across from him.

The lady nodded, "Of course, let's go. We can also visit the Arc de Triomphe and Place de la Concorde. The Louvre isn't far either!"

Around 10 PM, Charles and Liu Yifei returned to the Pullman Resort Hotel. As soon as they entered the room, they couldn't wait and started kissing...

...

After spending three days touring Paris with Liu Yifei, Charles finally received good news from Vivendi.

The George V Four Seasons Hotel, where Capet's upper management stayed, was buzzing with activity.

"They agreed?" Charles inquired.

Anne Depp nodded, "Vivendi is quite satisfied with the $6 billion offer. Even if General Electric is willing to match it, they wouldn't be able to gather that much cash so quickly!"

"Six billion dollars is no small amount. The financial crisis has made cash flow increasingly important, and the support from Paris Bank is our advantage," Charles said, not particularly concerned about the financial interactions in France, as Paris Bank and Vivendi already had close ties.

"Let's sign the acquisition agreement as soon as possible," Charles said, looking out the window. "Next, we need to compete with Comcast for General Electric's shares."

"Oh, and Steve Burke, vice chairman and president of cable TV at Comcast, is here in Paris and wants to meet you," Anne Depp reminded him.

Charles smiled, "Steve Burke, the former president of ABC Television under Disney, is the top executive at Comcast supporting the acquisition of Hollywood film studios. Let's meet in the afternoon at Capet International Pictures' French branch. Building a media empire isn't easy!"

Anne Depp nodded, "Additionally, banks and funds led by Bank of America, Vanguard Capital, BlackRock, and Fidelity Funds have started financing plans to raise funds for us. $12 billion in cash is no small matter these days!"

"Let's hurry. If needed, let Wells Fargo and JPMorgan Chase join. While Comcast is tied up with the antitrust investigation committee, we should strike while the iron's hot," Charles didn't want to waste any more time.

Acquiring NBC Universal would significantly enhance Capet Group's international influence, perfect their global distribution network, and expand promotion channels.

NBC TV could increase Capet's standing in the media industry, and Universal Studios would be a great supplement to the upstream and downstream supply chains of film and TV businesses!

In the afternoon, Charles met Steve Burke in Capet International Pictures' Paris office.

"Congrats to Capet for getting ahead in acquiring NBC Universal," said Steve Burke, watching the news release about Capet acquiring Vivendi's shares in NBC Universal on the office TV.

Despite several meetings with Vivendi and General Electric, $6 billion in cash was enough to shatter any illusions.

"Does Brian really want to turn Comcast into a media empire?" Charles asked.

Steve Burke nodded, "As the largest cable TV operator in the U.S., having our own content creation platform is part of our future plan. Comcast plans to first have General Electric reclaim the 20% of NBC Universal shares from Vivendi. Then combine our cable TV business with NBC Universal to form a new NBC Universal Group. After that, invest more to acquire 51% equity in NBC Universal Group and gain control."

"You can't possibly gather more than $8 billion in cash, can you?"

Steve Burke remained expressionless, "Charles, Comcast is confident we can manage NBC Universal well. Perhaps we can even collaborate!"

"Collaboration? It's possible, but Capet must have control over NBC Universal," Charles didn't mind if other companies held some shares in NBC Universal.

"Control must belong to Comcast," Steve Burke firmly stated his bottom line.

Charles looked at Steve Burke, "For this acquisition of NBC Universal, Capet can raise over $18 billion in cash. It's 2009, how much will Comcast need to invest to raise that? Even if Comcast gains control of NBC Universal, can you compete with Capet in films and TV? Stock swaps? Can Comcast's stock investments compare to Capet's?"

He then shook his head, "For a Hollywood media group, Comcast's only advantage is its share in cable TV user channels. You lack the experience. Managing NBC Universal won't turn out much better than General Electric's attempt! Go talk to Brian Roberts. This NBC Universal acquisition won't succeed unless you prepare more capital," Charles said as he stood up.

"$30 billion valuation is already high. How much more do you need to add to get General Electric's supportive shareholders to back you?"

Steve Burke opened his mouth but couldn't argue, "However, Comcast has an edge Capet doesn't. Cable TV is currently the most profitable section of NBC Universal. Our cable TV channels and TV networks are our opportunities!"

Charles looked at Steve Burke and shook his head helplessly, "Steve, you should study the TV dramas Capet has produced in the past few years and their ratings. You're underestimating Capet's influence!"

*****

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