Huayu started as a substitute director

Chapter 668: Buying the Whole Entertainment Industry at a Low Price 2
"It's over!" Mr. Wang sighed, after watching a wonderful show.

There is no chance for Huayi to turn things around.

This is because this incident not only hit Huayi, but also the entire entertainment industry, as well as film and television.

Wanda also had to deal with this storm.

It can be said that the entire entertainment industry, including film and television production, is now in a state of mourning, with heavy casualties. Film and television companies such as Tangde, Huanrui, and Yinji Media have collapsed one after another.

The wave of bankruptcies of small and medium-sized film and television companies continued to spread. At one time, more than three thousand film and television companies and studios were cancelled or revoked.

Just because of the above regulations, the producers need to bear joint and several liability for the artists' taxes. For example, if a crew was pursued for tax evasion by the leading actor, the producer was fined more than 10 million yuan.

Few film and television companies can afford this, so they can only choose to cancel their registration and run away.

Three thousand is just a small number, and the wave of bankruptcies is still spreading, because some companies want to seek funds, while others want to hold on.

BAT includes major capitals, and Yutu has attracted countless film and television companies and producers who want to invest.

But no one dares to invest now, the tide is receding. Obviously, the money they invested was used to pay taxes and fines. Even if they have money, they have to wait until this wave passes.

This has led to a lack of financing for many film and television projects.

Even Alibaba is in trouble. This incident caused Alibaba's stock price in the US stock market to fall by 8%, just because the artists and film and television productions of the invested film and television companies are facing impact.

Because Alibaba also has joint liability, Youku also has financial difficulties and its advertising revenue has plummeted. Because of the "yin-yang contract" incident, there has been constant negative public opinion in the entertainment industry.

In particular, advertisers of luxury goods and maternal and child products have cut advertising on a large scale.

It can be said that this was a heavy blow to Alibaba's big entertainment business, which dragged down their funds on a large scale and forced them to take a contraction stance.

If Alibaba adopts the strategy of contraction, other small and medium-sized film and television companies will become even more passive, and it is unknown whether the "choose one of two" policy can still be implemented.

Tencent Video is okay, it doesn’t have as long a history as Youku, in fact it’s only a few years old, and it has been purchasing content in the past few years.

Even if there is investment in production, it only started in the past two years, so the impact on them is not as great as that on Alibaba.

iQiyi is also in a state of ecstasy, but with Baidu supporting it, it can still hold on.

Only the top leaders can withstand this, the others have either gone bankrupt, or have very clear accounts, or have just started and the impact is not that great.

Huayi has declared its collapse without saying anything, and the big and small Wangs are selling off their assets in large quantities.

The famous Picasso painting "Nude, Leaves and Bust" in Dawang's collection is worth about 2 million yuan; and there is also a Van Gogh work "Daisies and Poppies", which is worth 1.85 million yuan and is looking for buyers.

Not only that, the equity of subsidiaries is being divested on a large scale, including Hero Entertainment, Maizuo.com, Hainan Guanlan, Tianjin Live Entertainment, and Live Entertainment in Suzhou, Changsha and other places.

In addition, the cinemas and film and television copyrights in Chongqing, Hefei and other places still have future income, all of which must be used to repay debts.

But these are just temporary solutions. Huayi will have to bear heavy debts in the future. Let’s put it this way, it now doesn’t even have the money to sue Warner.

The two brothers have pledged 100% of their equity and owe a debt of 90 billion. How can they possibly pay it back?

The stock market has been in a slump, falling from nearly 900 billion at its peak to only around 150 billion in just one or two years.

Moreover, it happened to be the day when the bet was due to expire. Not only did they have to pay off the debts, but they also had to pay taxes and fines, at least 10 billion, which was another huge hole.

Of course there is no rush, you can check and fill in the gaps slowly!
Originally, it only had a debt of about 60 billion yuan, and before that, it borrowed 33 billion yuan from Zhejiang Businessmen and Jack Ma, which is equivalent to 90 billion yuan. As a result, Huayi has a debt of more than billion yuan.

Of course, it is not that exaggerated. We have repaid 10 to 20 billion in the middle. If we don’t pay it back, those financial institutions will not be able to let it go. But if we sell a lot of assets, it is still possible to reduce it to tens of billions, and then pay it back slowly in the future.

Jack Ma also wants the two brothers' wives to pay back the money.

At this moment, it feels like Jack Ma is no longer Jack Ma, he is not as attractive as before.

It can be said that Huayi’s complete collapse is a cause for regret, but it also makes people more awed by the principal.

Even if the principal wanted to sacrifice the entire entertainment industry in order to bring Huayi down, no one dared to say anything to him and could only endure it silently.

The two brothers, the senior executives of Huayi, and Feng Kuazi were sitting in an office, scattered around some sitting or standing, all with sad faces, and the atmosphere seemed depressing.

"Sell everything that can be sold. The debt still needs to be repaid, no matter how many years it takes." The king always said dejectedly.

If they don't pay back, they will lose their only Huayi. Not only will they lose their money, but they will also lose their company. That would be even more miserable. At least those creditors will let them run the business.

There is no way to stop them from running the business. Even if Huayi is sold, it will not be worth much.

Mr. Wang stood up and left angrily without saying a word.

"Where are you going?" the king always shouted.

However, Mr. Wang did not answer. He opened the door and slammed it shut. The loud noise woke up everyone present.

This made everyone present look confused. Fearing that he might have done something stupid, they all stood up and chased after him.

This wave of "yin-yang contract" incidents has had an unprecedentedly wide impact, and even South Korea is in turmoil. Some people believe that banning Song Oppa was the most wrong choice they have ever made, and South Korea must retaliate.

However, if no one cares about their thoughts, they will just bark like dogs.

This matter also has a great impact on Yutu, because Yutu also needs to check all the films and TV series shot in the past 10 years to see if there has been any tax evasion, and whether any celebrity artists have evaded taxes.

In fact, as long as you pay the money, 5 million to 10 billion, you can pay it in the next two years.

Fang Hong also doesn’t know whether Yutu has evaded taxes, because many things are simply impossible to check. The movies he shot in the past few years when he started his business, such as "Those Years" and "Love Is Not Blind", were all a mess.

At that time, there wasn’t even a financial team. As long as the filming was done, no one cared.

Anyway, it's over after I make up for it. I'm too lazy to check. I'll just have to pay for all the food and water I eat and drink. I'll just consider it as a contribution to the country.

After checking carefully, it turns out that it doesn't mean you have to pay it now, you just need to pay it in full within two years. This is the grace period given by the higher authorities.

It also made many film and television producers breathe a sigh of relief.

As for the industrial blow suffered by the entertainment industry, Fang Hong does not feel distressed, as long as the market is still there, it is fine.

He had the same idea as above, so he didn't feel bad.

As long as the market and the audience are still there, there will be no problem of industry decline, and the industry will only return to the track of healthy development.

At the Yutu Film and Television Base, everything is white. The roofs and the ground are covered with a thick layer of snow.

However, the area around the statue at the gate of the Jade Rabbit Film and Television Base was full of people, each of them filled with righteous indignation and seemed very angry.

Chen Zhixi was confronted by a group of senior executives, while Lu Dabao and his men blocked the gate and prevented them from entering.

"Let the principal come out." Some even raised their hands and shouted.

"If you have something to say, let's talk it over nicely. What's the point of making such a fuss? This has nothing to do with us." Chen Zhixi faced the group of people.

"Who said it has nothing to do with you? You dare not admit it, right? We won't tell you. Let the principal come out. We must get an explanation today." A middle-aged woman wearing glasses shouted excitedly. "Boss Zhong, if you do this again, I will call the police." Chen Zhixi said.

"You report it, I'll watch you report it!"

"Yes, you report it, you report it, we will come again tomorrow."

"We won't leave until we see the principal!"

The crowd suddenly became noisy and bustling.

This made Chen Zhixi very helpless. He knew many of these people, and they were all CEO-level figures. It was really not easy to do anything too excessive.

Just then, a Porsche car came from a distance, approaching, leaving tire tracks, and stopped behind them.

Lu Dabao knew that it was the principal's car. He quickly waved his hand and a team of heavily armed soldiers in suits and leather shoes immediately appeared from the film and television base. They stomped on the snow with a "crunching" sound and surrounded the Porsche.

The main reason is that they are afraid that these uncultured people will assassinate the principal.

Such a sudden grand scene and commotion surprised everyone here, so they all turned around.

The principal, wearing a black woolen coat, got out of the car in great style and brought out Liu Tianxian as well.

Liu Tianxian was also wearing a fluffy fur coat. The fur coat was very large, thick, and elegant. It wrapped around her entire body and was almost dragging on the ground.

With such a package, you can't tell that her figure looks like she is pregnant.

Her face is still fair, with long hair parted in the middle close to her scalp, and her smile is still as elegant and relaxed as usual.

"Why are there so many people?" she was surprised.

I originally planned to come out today to relieve my boredom, but it just so happened that I met so many people.

When those people saw the principal, they all gathered around him. The leaders were all middle-aged men with a certain temperament.

"Principal, you have to give us an explanation."

"What's going on?" Fang Hong didn't understand what was going on, he just felt that they looked familiar.

Chen Zhixi stepped forward and introduced the group, "Mr. Fang, Mr. Wu from Tangde Films, Mr. Zhong from Huanrui Films, and dozens of CEOs from Xinli Films."

"Oh, it turns out that you are the CEOs from the same industry. My apologies." Fang Hong said politely.

Liu Tianxian was standing by, looking at these people one by one like a noble lady.

"Principal, don't try to play these tricks on us. If you want to fight with Huayi, then fight. You've harmed all of us. We didn't provoke you. You have to give us an explanation today." Huanrui CEO Zhong Junyan said.

She was the most wronged one. She was hit twice in a row and she collapsed and came here from Jiangsu and Zhejiang out of anger.

The people around her were all glaring with anger. They were all CEOs of collapsed film and television companies. They were at their wits' end. Capital was receding and no one was willing to invest in them.

"What explanation do you want? Can you send me to the Public Security Bureau?" Fang Hong asked directly.

These words left everyone present speechless.

There is indeed no definitive answer to what explanation they want, they just came to us on a whim.

"You've caused the entire entertainment industry to collapse. Sending you to the police station is the lightest punishment." said Wu Hongliang of Tangde Film and Television.

"Then take me there." Fang Hong didn't give him any face at all, and acted as if to say, let's see what you can do to me.

Being weak and unable to withstand the blow is reasonable.

"Principal, we used to have a cooperative relationship. Now that you're doing this, how are we going to survive?" someone complained.

"Yes! I am in debt now, and my creditors block my door every day." Someone wiped away tears, feeling a little overwhelmed.

"I borrowed all my parents' money, and now I'm completely out of funds." Someone else cried.

The others were also crying and sobbing, looking very sad.

Wu Hongliang and Zhong Junyan were very indignant. They knew that they could not do anything to the principal about this matter. He was just exposing the filthiness of the industry and had not done anything illegal. How could he be sanctioned?

Whether it's gambling, the school hunk, or a "yin-yang contract", these are all dirty aspects of this business.

Their collapse is understandable. One director committed suicide because of a dispute with investors.

It can be said that capital has a huge impact on this industry.

Liu Tianxian looked at these people and felt pity for them, as well as a bit of maternal love.

She was meant to be a mother.

"Of course I understand how you feel. I was thinking that since we are all in the same industry, we could all put out 10 billion and get through this difficult time together. But you suddenly came to pick a fight with me, which made me very unhappy." Fang Hong said unhappily.

Hearing this, people couldn't help but be surprised and asked in disbelief: "Really?"

"Of course it's true. Although this matter has nothing to do with me, as a member of the film and television industry, I have an obligation to ensure the continued prosperity of the film and television industry and the entertainment industry." Fang Hongyue raised his voice a few decibels as he spoke, obviously wanting everyone to hear him.

He also denied that the turmoil in the entertainment industry had anything to do with him.

This made everyone present look at each other in surprise and confusion. Why was the principal so nice?

Even Zhong Junyan was a little surprised and asked: "Principal, are you really going to spend 10 billion to save us?"

"Let me make it clear first, I don't owe you anything. Who I save depends on my mood and your attitude. Do you understand?" Fang Hong said.

In other words, if he is unhappy, he will not save you.

"Principal, we are willing to join you. As long as you are willing to save our company, our company will follow your lead in the future." The curly-haired woman had no moral integrity and directly admitted defeat, accepting the thief as her father.

"Okay, which company are you from?" Fang Hong looked at the man, who looked quite elegant.

Who he saves does not depend on the company’s business performance but on attitude. He saves whoever is willing to call him “Dad”!
His purpose is very simple, to bottom out the entire entertainment industry. Isn't it a choice between two? Half of the film and television producers in the entertainment industry are mine. It depends on your choice.

"I am Wang Ziwen, the president of New Classics. The company's accounts are short of funds right now." Wang Ziwen said hurriedly, as if she saw hope.

Not the actress Wang Ziwen. They are not the same person, they just have the same name.

Their company was facing tax audits due to the sky-high pay for "Tiger Mom and Cat Dad" and "The Imperial Doctress", and its capital chain was tight.

Today, New Classics can only be considered a second-tier film and television company.

"Okay, Chen Zhixi, write down the name of this company." Fang Hong agreed immediately.

(End of this chapter)