America: My Time

Chapter 489 The Transformation of the Phoenix Group

Chapter 489 The Transformation of Phoenix Group
The small test had taught them a real lesson. The turmoil in the United States made them worried. If someone jumped out at this time to stop Hughes Aerospace from cooperating with Japan, all their previous efforts would be in vain. Now that the global satellite positioning system was fully deployed and made great progress, Japan did not want to be kicked out at this time. John's idea was crucial.

Which is more important, the price of iron ore or the cooperation with Hughes Aerospace? Naturally, it's the latter. The price of iron ore can be negotiated slowly, but the cooperation with Hughes Aerospace cannot be kicked out for any reason. Japan has paid a considerable price, and they cannot accept being kicked out now. Therefore, they cannot afford to offend John in any way.

Of course, sacrificing Mitsui was out of the question. Under these circumstances, Japan could only target the women around John. It was the only way. Unfortunately, John was unaware of their thoughts. If he had known, he would have just smiled indifferently. He had no intention of kicking Japan out of the game. He still needed Japan's financial support. Although Hughes Aerospace was developing rapidly, it was also consuming a lot of money. John also intended to talk to the Middle Eastern tycoons and Japan again to get more financial assistance from them. Otherwise, many things could not proceed.

With the Universal Studios project underway in Hong Kong and the airport project approved, attention has shifted away from Standard Chartered Bank. Everyone knows that Standard Chartered has provided funding for the Universal Studios project. The Hong Kong Universal Studios is being built by the Mandarin Oriental Group, which shares a 50% stake with Phoenix Media Group. The Mandarin Oriental Group will control the future operations. This news has surprised many. Similar to the investment in the Japanese Universal Studios, where Universal Studios only contributed a small amount of capital and chose to partner with local companies, the difference is that this time the partners are the Mandarin Oriental Group and Phoenix Media Group—both John's own companies—which has caused many to sigh.

Once the project was in the planning stages, John stopped paying attention to the Universal Studios Hong Kong project. Such a large project required a long construction period, and entrusting it to professionals was the best choice. Compared to his many businesses, John valued media development more. He spent the following time discussing the development of ATV and the integration of Phoenix Group with Wong Sik-chiu. The key was how to unite the strength of Phoenix Group and unleash its full potential.

The most important element is the television stations. Phoenix Media has acquired satellite television licenses in many Asian countries, but the crucial task now is to integrate all the television stations under the Phoenix Media Group. Taiwan's development is now on track with no major problems, but to truly integrate the entire Phoenix Media Group's television stations and media resources, including TV Tokyo and Seoul Broadcasting System (SBS) in South Korea, these forces need to be consolidated.

Hong Kong and Taiwan have no problems at all and can cooperate tacitly, with personnel able to move freely between them. However, TV Tokyo and TV Seoul cannot do this, which is a major problem. If they cannot be integrated, it will only affect the overall interests.

Unfortunately, due to geographical, linguistic, and even cultural differences, such integration quickly ran into difficulties, and neither John nor Huang Xizhao could develop it.

"I'm still troubled by the integration of Phoenix Group. I don't understand why you want to integrate these four TV stations. Why not continue the previous cooperation, just a merger, just resource sharing? I think you're complicating a simple matter!"

John was taken aback when Chung Chu-hung finished speaking. Her words stirred something within him. Perhaps he and Wong Sik-chiu had overthought things and had a problem with their initial plan. They thought that the integration between Hong Kong and Taiwan was feasible, as were TV Tokyo and TV Seoul, but they had overlooked the most important issues: geography and culture.

Even the wisest can make a mistake, and this saying perfectly applies to John and Wong Siu-chiu. Without Chung Chu-hung's reminder, they might still be struggling to find a solution, perhaps not for the television station and media, but for the talent agency and the top management of Phoenix Group. Phoenix Group has always operated on a regional management system; now it needs a true group core to mobilize all its resources and achieve resource sharing.

In the early stages of Phoenix Media Group's development, regional management was the best option, maximizing its potential. However, Phoenix Media Group has undergone a qualitative transformation and is no longer what it used to be. It is now a multinational media and entertainment group, and such decentralized development will only limit its power and affect the integration and mobilization of resources.

What is the core of Phoenix Media Group? Is it Tokyo Resources? No, Tokyo can't do it! The United States, although Phoenix Media Group has expanded rapidly in the United States and has strong resources and power, is not the core of Phoenix Media Group. The true core of Phoenix Media Group is ATV, the media and entertainment industry in Asia.

Now it's time to establish Phoenix Group's headquarters in Hong Kong. As for the CEO, it's Wong Sik-chiu. However, John isn't sure if Wong Sik-chiu can shoulder this responsibility; after all, this is just his idea. Furthermore, the film industry cannot be ignored if Phoenix Group is to be fully established. Hong Kong's film industry has entered a period of frenzy, with shoddy films gradually crushing it. Moreover, changes in other Asian countries will further exacerbate the decline of Hong Kong's film industry.

Phoenix Pictures needs restructuring and comprehensive integration. It's no longer suitable for ATV to control its development. Phoenix Pictures needs to become completely independent, develop on its own, and complete its own integration and growth. In comparison, the development of Phoenix Cinemas is much easier, with fewer complications. After all, Phoenix Cinemas has already embarked on a global expansion, and with steady progress, it can quickly establish its own global distribution channel.

“It seems there’s a lot to do next. The integration of the film industry will take time. Phoenix Pictures can’t just stay in Hong Kong; it must also have a branch in Taiwan. We also need to prepare in advance for South Korea, otherwise, when their system changes, there will be big problems. Hong Kong alone cannot support the development of Phoenix Pictures. As for North America, Phoenix Pictures will exist, but the focus will still be on Paramount Pictures.” John quickly came up with a development plan for Phoenix Pictures: international cooperation was the best option.

At this time, John also thought about the layout in China. Perhaps after the full integration of Phoenix Group is completed, it will be necessary to shift the focus to China, enter the Chinese market in advance to seize the opportunity and market share.

"Chu Hong, have you been involved in the management of Phoenix Group?"

John's words surprised Chung Chu-hung, but she quickly shook her head and said, "No, I don't have that ability. A large multinational corporation like Phoenix Group is not something I can get involved in."

“I don’t intend for you to be involved in the overall management work, but only in a part of it. With the integration of Phoenix Group, the talent agencies will be fully integrated, not only in Hong Kong, Taiwan, Japan, and South Korea, but also in Europe and the United States, to become a large talent agency. Phoenix Pictures will also be integrated, as will Phoenix Cinemas. You have such work experience before, so I intend for you to participate in the management of Phoenix Pictures or Phoenix Cinemas. Just participate first, and learn gradually. I need to understand the company better for this integration.”

Although John has a think tank and an accounting firm to oversee things, a film company is different. Without its own people, many things will go wrong. So John thought of Cherie Chung. Even if she's just a figurehead, she can still learn something and play a significant role in the development of Phoenix Pictures.

"It's better not to. If I get involved in the management of Phoenix Pictures, it will give Sister Qianwen something to think about, and it will also put you in a difficult position!"

“Phoenix Group is going to fully integrate this time. I will make other arrangements for Qianwen’s matter. You don’t need to have such concerns. You just need to make your own decision. Do you choose film production or theaters? If you can’t make the decision yourself, then I will help you choose. You don’t need to worry too much. I will make all the arrangements.”

"I don't know what to choose either, so you should decide." Faced with such a major decision, Chung Chu-hung was also unable to make a decision for the time being, as this was the first time she had ever encountered such a significant situation.

"Then let's go with the film industry. After the integration, you'll join the human resources department. You don't need to worry about the specifics; just get a feel for Phoenix Film Industry. As for Qianwen, it's up to her. If she can't let go of her career, there's nothing I can do. After all, I can't force her to accept this kind of work. Tomorrow, you'll come with me to see Huang Xizhao and have him arrange for you to learn in the human resources department. Once Phoenix Group is integrated, you'll have enough experience."

Soon, the integration of Phoenix Group began in full swing. While North America remained untouched, the integration now focused on everything in Asia. Phoenix Group's headquarters were officially established in Hong Kong, and after discussions with Huang Xizhao, he was appointed CEO. The entire Phoenix Group began its integration, embarking on a new round of transformation. Television stations, film studios, cinemas, comics, and newspapers were all integrated. The changes at Phoenix Group had little impact on Hong Kong, as they were completely unaware of the changes. However, the impact on Japan, South Korea, Taiwan, and Southeast Asia was enormous, shocking many, especially Japan, where talent agencies were completely integrated into the new company. This change came too suddenly.

(End of this chapter)