Quickly wear it and insist on being an old man forever

Chapter 292 The Entertainment Industry Boss Who Was Furious to Death (2)

#Dianfeng Entertainment's Du Jingtian died suddenly! #
#Countdown to Peak Entertainment's losses in recent years#
#How long can Peak Entertainment last? #
[Uh, I don’t know what to say. Although death is the greatest thing, this death is too shameful! ]

[Oh, if the wind blows immediately, then the wind blows immediately. ]

[Who is this old man? I have never seen him.]

[He used to be the CEO of Peak Entertainment, but he left the company four or five years ago. I guess he has no job now.]

[The above person is really outrageous. Are you deliberately fishing for money or what? Now the real power of Peak Entertainment is in the hands of his son and daughter. Even if he does not hold a position in Peak Entertainment, he can still influence some specific decisions of Peak Entertainment and even the investment direction. ]

【Oh, the emperor, huh? 】

[Haha, this is so funny. He can only be considered as the husband of the emperor. He only owns 1% of the shares of Peak Entertainment. The remaining 60% or so are in the hands of his wife. His son and daughter each hold 10% of the shares, which is ten times more than him.]

[So she is a gigolo, just because of her looks? ]

[I feel like I can do it! ]

[Du Jingtian's young photo.jpg. He was quite good-looking when he was young. At least in terms of appearance, he was no worse than the four kings and top idols nowadays. It's just that he is old and has no self-control. He doesn't exercise, so he becomes old and fat. ]

[Time is really a butcher's knife. 】

【And he seemed particularly cruel. 】

[What's so cruel? He was just being too self-indulgent and had no self-control. A certain superstar who was several years older than him is still in great shape and even has abdominal muscles!]

[That’s true…]

[I don't think so. When I was young, I particularly liked two male actors, one was very handsome, and the other was just average, not ugly. But now I can't bear to look at the handsome one, his face is completely broken, but the average one is now a very elegant old man, very pleasing to the eye.]

[Is it possible that the handsome one had plastic surgery in the past? Many female celebrities who have had plastic surgery have a hard time describing their appearance when they get older. They cannot be compared with those who age naturally.]

[Is star-chasing so ancient? ]

[In recent years, there have been too many fan collapses, and I have been severely damaged. I will find some archaeological research that has stood the test of time. At least I can rest assured that I will not be so easily killed by collapses...]

[Thinking too much. If we use the current standards of house collapse to ask those old predecessors, most of them will collapse one by one, and there are not many who can survive. For example, a certain elderly female star was jailed for tax evasion when she was young, a certain male star abandoned his wife and had an affair, and there is no telling how many women a certain male star has outside.

Besides, there are too many things like mistresses, those who become famous by living off their husbands and then turn their backs on their husbands. 】

[Now I usually call some stars "stars whose reputation has not yet been ruined", and no one dares to promote them as "stars whose reputation will never be ruined".]

[By the way, will this incident affect the release of the movie that just finished filming? The two female stars who were in the restaurant with Du Jingtian should also be considered to have their reputations ruined.

It seems like no one pays attention to them. 】

[Didn’t I tell you? I live next door and went in after hearing the screams. If you spread rumors again, I will sue you.]

【Haha, that's quite funny.】

[No matter what, it will definitely be affected. ]

[I just did a rough calculation and found that the Peak Entertainment film and television production department should have nearly a hundred films or TV series in backlog over the years.

No wonder they have been selling assets like crazy in the past two years.

I’m afraid they’re about to be forced into bankruptcy! 】

[It seems to be true. ]

【Four years ago, they invested 1 billion yuan to shoot a super science fiction movie, and they cooperated with international directors to shoot it. But the heroine evaded taxes, the hero went to jail, and the second male lead was banned for some reason. It is said that the movie had been edited and approved, and was about to be released.

As a result, all the previous work was wasted.

Moreover, the film was solely funded by his family, and he was afraid that others would take a piece of the pie. It is said that the loss exceeded 10 billion. 】

[Didn’t his family customize a movie for a top star in their artist management department two years ago? The investment was over 100 million, but the total box office was less than 10 million, a huge loss. I thought that the top star could be mowed again, but I didn’t expect that he had already been mowed bald.]

[The so-called top star at that time was actually no longer a top star. He relied on someone to help with the data to keep looking good. Didn’t you see that most of his endorsements had basically dropped? Originally, he might have been able to maintain his superficial glory for another two or three years, but when the movie box office came out, it all collapsed.

The few remaining national endorsements have all been lost, and the new endorsements have dropped several levels and are not well-known. 】

[By this calculation, their artist management department is pretty impressive. I counted carefully and found that at least half of the top idols who have been derailed came from their company.]

[It’s actually not bad, at least I can’t make coffee. ]

[The artists they sign already account for half of the entertainment industry, so the proportion should also collapse by half. It’s no big deal. It’s just that because they are all from his company, the overall data seems a bit exaggerated. ]

[The financial statements of Summit Entertainment Group in the past two years are too ugly. Fortunately, it has never been listed. If it had been listed, who knows how much the stock price would have dropped. However, it has not recovered so much investment, but it has still managed to survive until now. It is true that a lean camel is bigger than a horse. If it were some small companies, they would collapse after losing a few hundred million. This is Sun Media Corporation.

However, the investment in the two films resulted in a loss of more than 100 million yuan.

It actually went bankrupt. 】

[Please, this situation is normal, otherwise why do you think many big productions now easily attract dozens or even hundreds of investors.

Isn't it just to share the risk with more people?

When big productions were just becoming popular a few years ago, many film and television production companies and entertainment companies suffered losses and went bankrupt due to failed investments in one or two big productions. Only the top entertainment companies, which are large and wealthy, have always insisted on sole investment in order to have 100% control over the copyrights of the film and television dramas they have shot.

However, in the past two years, they have also started looking for partners, apparently because the losses are too great and they can no longer bear it. 】

[You have only a superficial understanding. The inability to release more than a dozen big productions is at most a minor injury to Summit Entertainment, but it is far from killing them. What can really kill them is the sharp drop in housing prices.

Unexpectedly, it’s another cross-industry attack.

When the housing prices were at their peak, they spent a huge amount of money to acquire a large number of cinema chains, bearing high interest rates. As a result, as you know, the cinema chains were directly closed for about two to three years, but the loans still had to be repaid. Recently, the housing prices have been cut in half. It is said that they borrowed a full 60 billion yuan in loans at that time. Now, five or six years have passed, and the principal and interest have not been repaid. The cinema chains used as collateral have long been insolvent.

But the lending bank doesn't dare to urge.

Because at least Peak Entertainment has not stopped providing funds. 】【Am I reading this correctly? It is 60 billion, not 600 million. My God, where does his family get so much money? 】

[I thought the entertainment company my idol signed with had a revenue of 700 million last year, which was already a big company. But it turns out that this amount of income may not even be enough to pay the monthly interest to Peak Entertainment? ]

[Are entertainment companies so rich? ]

[Well, how should I put it? The annual revenue of the world's largest entertainment company is more than 18 billion US dollars, and their total assets are more than 100 billion, nearly 200 billion US dollars. By comparing them, don't you think that Peak Entertainment is actually nothing, just a small Karami! ]

[Wouldn’t the total valuation be over one trillion? ]

[How can you earn so much? ]

[Their movies and TV series are shown all over the world, but it is very difficult for us to go abroad. The consumer market alone is many times bigger than ours. And they don’t rely solely on the film and TV series market, there are many other markets to help them make money.

I don’t understand the details, but there is a gap anyway. 】

[I guess Peak Entertainment can't hold out, because no matter how you look at it, it will be difficult for them to pay off the 50 billion yuan loan in the next four or five years. Even if they sell the remaining theaters at the current market price, they can only pay back about 20 billion yuan at most. I really can't imagine where they can raise the remaining 30 billion yuan? ]

[No wonder I’ve seen TV series and movies that were previously only licensed to a certain company on many TV platforms recently. It seems they sold the copyright! ]

[It has come to this point and there are still no layoffs? 】

[I know the inside story. Aren’t most of the shares of Peak Entertainment Group still in the hands of the female president? Her children are just managing them on her behalf. They don’t want their mother to know about this, so they have been keeping it a secret. Once there is a large-scale layoff, it will definitely become a hot topic like this time.

So they have been robbing Peter to pay Paul. 】

[It turns out that blind expansion is not a good idea. ]

[I’m upset. My idol is from Peak Entertainment. Will the bankruptcy of Peak Entertainment affect them?
My idol won’t be sold out by their family! 】

【Selling people is illegal.】

[If I'm not mistaken, the person mentioned above meant selling the contract. That is, if a person and the company still have five years before the agency contract expires, some companies can transfer the contract to other companies through various means and loopholes in the original contract.

Peak Entertainment can’t be so tasteless. 】

[Who knows? When you are pushed to the limit, you will lose face! ]

【horrible……】

[It's so strange, other entertainment companies didn't take advantage of the situation, are the relationships between them so good? ]

[It is possible that there is no need to add insult to injury! ]

[It costs money to kick someone when he's down. No matter how you look at it, it's hard for Peak Entertainment Group to make a comeback. Why waste money on this?]

[No star has terminated their contract! ]

[No other company took the opportunity to poach people.]

[It feels like the same thing still applies. Who knows whether the contract will expire first or Summit Entertainment Group will go bankrupt and liquidate first? At this time, whether it is terminating the contract or poaching people, it is inevitable to pay liquidated damages. It is better to wait and see. ]

[I don't feel like it's going to go bankrupt. I work at Peak Entertainment and my salary was paid on time last month. It stands to reason that many large groups would owe two to three months' or even half a year's salary before going bankrupt. I don't know why so many people are predicting a bad situation. I feel fine.]

[Because everyone knows that his family has been selling meat and blood for four or five years. Even if a lean camel is bigger than a horse, it cannot withstand such bloodletting and meat cutting. Therefore, bankruptcy and liquidation are undoubtedly a matter of time.

If you settle the account early, you may still be able to keep some.

If we delay any further, the situation will only get worse.

[The two young men were not decisive enough. If they had decisively sold all the cinema chains at low prices in 2020 and repaid the loans, they would have lost at most 10 billion yuan. Unfortunately, they did not do that and had to hold on for another year. Then, it was difficult to sell them and no one was willing to pay to take over the cinema chains from them.

I can only sell it sporadically, barely enough to pay the interest.

Later, he invested in big productions everywhere, hoping to make billions of dollars at a time and pay off the loan as soon as possible, but he ended up getting stuck deeper and deeper.

[It's really hindsight. If everyone had such foresight and determination, no one would have ended up like this. ]

[I heard that the CEO of Peak Entertainment is being treated in a private hospital. I wonder how he is doing and whether he can be saved. And is it possible to turn the tide! ]

[What kind of beautiful dream are you having? How can you possibly turn the tide? Their situation is clearly irreversible. They were just lucky back then and were able to grow and develop by taking advantage of the times. Now, there is no policy support from above, no dividends from the times in the middle, and there may be a lot of problems holding them back. There is no hope.]

[If you go bankrupt and liquidate quickly, you might be able to save some money for retirement. If you continue to insist on doing so, you will surely die.]

[The other two entertainment giants are smarter and don’t touch cinemas at all. They have even become quite cautious in their investments. I heard that the latest new contracts have already assigned responsibilities to individuals. Whoever has problems will be held responsible.]

[I heard that Donggua Entertainment Group has launched a profit-sharing contract. No matter whether you are a first-line star or a top superstar, you can only get a basic salary of one to eight hundred thousand for starring in their dramas. The same is true for directors. Anyway, the basic salary is not high, and dividends are given according to the broadcast performance.

The better the playback performance, the more dividends you get.

If you send it, you will not get any dividends. If someone has a problem and it cannot be played, you will be compensated. 】

[It seems that the entire entertainment industry is a little short of funds. Some are cutting budgets, some are cutting projects, and some are limiting pay. ]

[Peak Entertainment has not kept up with the times! ]

[From this perspective, will the film and television drama market gradually become more rational in the future? We won't be hurt by bad dramas anymore, and there should be more high-quality dramas. ]

[I don’t know. Anyway, the annual reports of major entertainment companies last year were not very good. Although some dramas were popular this year, there was no annual hit drama that completely broke through the circle and had a very high ratings. ]

[Oh my god, didn’t Du Jingtian die yesterday? Why was he cremated today? There wasn’t even a memorial service? ]

[Who would dare to do this? ]

[Of course, the more low-key the better now...]

……