funbook-pk Chapter 985: A Sensation Across America!
Chapter 985: A Sensation Across America!
January 12th, morning.
As the United States ushered in a new day, almost every business newspaper and entertainment magazine in the country placed the news of Kirk Koccorian's deal on the front page.
Kirk Koccrian is a famous Las Vegas casino tycoon, dubbed "the architect of Las Vegas" by Time magazine, as he is considered the biggest contributor to Las Vegas's status as a world-class tourist destination.
Lin Haoran has also gained considerable fame in the United States in the past two years. On Wall Street, he is known by the media as the "Eastern Prophet of Wall Street". He is also an executive director at Citibank. Many universities have formed clubs to study his investment philosophy and established the "Lin Men Association". He has appeared on the cover of The New York Times, Forbes, and Time magazine multiple times.
As for MGM, it is a symbol of Hollywood's golden age. At its peak, it was known in the industry as the "King of Kings" of Hollywood. Even though it has declined now, it is still one of the eight major Hollywood studios.
Now, these three elements have come together. The designers of Las Vegas have handed over the throne to the Eastern visionaries of Wall Street, and the scepter they handed over symbolizes the golden age of Hollywood. They have also given away their best work in Las Vegas to the other party.
No newspaper would want to miss such news, and no reader could ignore it.
The New York Times' front-page headline: "Eastern capital enters Hollywood: Hong Kong tycoon acquires MGM for $650 million."
The report devoted two full pages to a detailed account of Kecorian's rise to prominence in Las Vegas, an analysis of Lin Haoran's rise on Wall Street, and invited three industry experts to comment on the deal.
The three experts ultimately reached the same conclusion: this was the first time in Hollywood history that a Chinese person had taken control of one of the eight major film studios, and its symbolic significance far exceeded the transaction itself.
These articles are neutral and restrained, without any obvious bias, but they reveal a cautious optimism. They believe that an investor who can accurately predict market trends may indeed awaken this sleeping lion.
If The New York Times is a calm business review, then Time magazine's reporting carries a strong sense of the changing times.
The article begins with Kecorian's rise to power, recounting his legendary transformation of the desolate desert town of Las Vegas into a world-class entertainment destination. It then concludes with the recent change of ownership of MGM, highlighting the goal of building a larger and better casino hotel, thus giving this transaction a unique historical significance.
In Time magazine's narrative, this is a power transition between old and new capital: Lin Haoran represents a new generation of global capital that has emerged and broken the monopoly of the United States; while Kecorian is a microcosm of the end of the old era of American business dreams.
The report concludes with a sense of uncertain melancholy: one era has ended, another has begun, but no one knows what the new era will be like.
The six Hollywood giants may not be able to comprehend how close the relationship is between Lin Haoran and Citibank, but the Wall Street media is different.
Even though the mainstream media on Wall Street are almost entirely controlled by the Squid Man, these Wall Street media outlets are very clear that Lin Haoran is backed by Citibank and has connections with the top capital forces on Wall Street.
They vividly remember how Forbes was acquired by Citigroup more than half a year ago.
These Wall Street media outlets don't want to follow Forbes' old path.
Therefore, their reports always maintain a measured tone, neither praising nor criticizing, observing cautiously, and unwilling to easily take sides.
But this rationality and restraint are completely absent in the eyes of Hollywood's local media.
The reports in California newspapers were blatantly critical and skeptical, creating a stark contrast with the optimistic atmosphere on Wall Street.
The Los Angeles Times' front-page headline had a divisive feel to it: "Hollywood welcomes invaders: MGM falls into the hands of foreign Chinese billionaires."
The report focused on the impact of the acquisition, raising the most pressing questions in the industry: Will the entry of foreign Chinese capital rewrite the power structure of Hollywood, which has remained unchanged for decades?
How will the six major film studios respond? Will MGM face a large-scale personnel purge?
The newspaper interviewed several senior industry insiders who wished to remain anonymous, and their opinions were remarkably consistent: all expressed concern and rejection.
An anonymous veteran producer bluntly stated, "Money can buy all assets, but it can't buy creativity, aesthetics, or even genuine passion for film. An outsider simply can't lead this long-established film studio."
The entire article is telling the reader: this foreign tycoon is not here to save MGM, but to destroy it.
The Hollywood Reporter's cover was even more provocative: one of the lion's eyes on MGM's classic gold lion emblem was replaced with Lin Haoran's face.
The accompanying title directly questions: "MGM's New Owner: A Hong Kong Tycoon Who Made His Fortune in Real Estate, Does He Understand Film?"
This report was written entirely in accordance with the tone instructed by Lou Wasserman. There was not a single direct smear, but every word implied the same conclusion: Lin Haoran is a pure speculative capitalist who made his fortune in real estate and finance. He does not understand the rules and core of the film and television industry and is not capable of supporting MGM's century-old heritage. He will only completely exhaust it.
The article prominently features a quote from a former MGM executive: "Even if Kecorian had no interest in managing the film industry, he always held the film industry in high esteem."
But this Chinese-American boss from Hong Kong in the Far East probably doesn't even have this basic respect. To him, MGM isn't a film and television company, but merely a financial asset that can be cashed out at any time.
As for the California Daily, its wording was the most emotional and inflammatory.
The newspaper directly labeled Lin Haoran as an "Eastern invader," stating bluntly that the acquisition posed a huge threat to Hollywood's century-old foundation, completely igniting vigilance and hostility within the American film and television industry.
The report quoted a "veteran Hollywood lawyer" as saying: "This is not an ordinary business acquisition; it is a cultural invasion."
What does it mean that a Chinese businessman has bought one of Hollywood's most iconic film studios? It means that Hollywood's values will be diluted and its traditions will be destroyed.
This report has caused quite a stir in California and even in surrounding states, with many readers expressing their anger and concern in the newspaper's letter-to-letter section.
These reports by California media outlets are being manipulated behind the scenes by Hollywood moguls.
At this moment, they have already begun to exert their strength.
The goal was to launch a propaganda war, so that Lin Haoran's takeover of MGM would be shrouded in negative public opinion from day one.
What they want is not for Lin Haoran to withdraw immediately, that's unrealistic.
What they want is to burden him with heavy baggage from the very beginning, to label him as an "intruder," "someone who doesn't understand film," and "someone who only knows how to play the capital game" before he even starts to show his skills.
Once these labels are on, it's not something that can be easily removed in a day or two.
In addition to these, a large number of non-mainstream media outlets in other states controlled by the Squid Man hyped up the matter, claiming that Lin Haoran's takeover of MGM was a full-scale invasion of the traditional order of Hollywood and a barbaric harvesting of the "foundation of American culture" by an "outsider".
These media outlets maintained a highly consistent stance, as if an invisible hand was orchestrating everything behind the scenes.
They all used words like "invade," "occupy," and "harvest," which are highly aggressive and xenophobic, to portray Lin Haoran as a dangerous figure carrying huge amounts of capital who attempted to destroy Hollywood's century-old foundation.
The report repeatedly emphasizes Lin Haoran's Chinese identity, implying that his success stems from "opaque Eastern capital" and "operational methods that are incompatible with American business rules," constantly inciting xenophobic sentiments among the American public.
For a time, from the east coast to the west coast, from big cities to small towns, the name Lin Haoran became the focus of discussion in almost all media and among the public.
On television news, hosts and guests fiercely debated the pros and cons of the deal; radio call-in programs were flooded with angry listeners.
Wall Street neither praised nor criticized him, while Hollywood viewed him negatively, even regarding him as an aggressor.
Two distinctly different sounds collided in the air, creating a strange tension.
Some were curious, some were expectant, some were worried, some were angry, and some were indifferent.
Originally, only a portion of the audience knew about this during yesterday's live television broadcast.
This morning, the news was instantly known throughout the United States, with reports flooding the media. From New York to Los Angeles, from Chicago to Houston, from Seattle to Miami.
Whether you're a financial elite or an ordinary white-collar worker, a film industry professional or a regular viewer, or even a homeless person on the street, you can see or hear Lin Haoran's name as long as you open a newspaper, turn on the TV, or listen to the radio.
His name and face dominated the headlines of major media outlets across the United States overnight, becoming the most talked-about topic across the country that morning.
In a Manhattan café in New York, just after the morning rush hour, several middle-aged men in dark coats sat by the window, newspapers spread out in front of them and coffee beside them. Their conversation ranged from the slightly bitter coffee to the Asian face on the front page.
"Six hundred and fifty million, to buy a dying film company." A man wearing gold-rimmed glasses shook his head and pointed to the headline of The Wall Street Journal. "This guy made money in Hong Kong real estate speculation, achieved some success in the financial industry, and then came to Hollywood to cause trouble."
Let me tell you, these kinds of cross-industry acquisitions are almost always doomed to fail. Does he even know anything about movies? How many MGM films has he seen? Does he know how long it took to make *Ben-Hur*?
The man in the dark blue suit across from me picked up his coffee cup, took a sip, and said slowly, "Whether he understands movies or not is not important. What's important is that he has money. With money, you can hire someone who knows how to manage it."
When Coca-Cola bought Columbia Pictures, nobody thought Coca-Cola understood movies. But look what happened! Columbia Pictures has been doing just fine these past few years, with box office numbers even better than before.
The film industry is ultimately a business; nobody cares if you understand art or not, as long as you can make money.
"Coca-Cola is Coca-Cola, and he is him." The man with gold-rimmed glasses spoke with a hint of disdain. "Coca-Cola is at least an American company, and he is of Chinese descent, from Hong Kong."
Do you think Hollywood would welcome him? Do you think the studio heads would let him quietly do business? Don't be naive.
"Exactly, it's undeniable that he does understand finance, and he was even able to predict the decline in US stocks when President Reagan issued new policies, but so what?"
MGM Studios is in the film industry, and MGM Grand Hotel is in the casino business. Is he some kind of all-rounder, knowledgeable in every industry?
“However, reports from publications like The New York Times and The Wall Street Journal reveal a cautious optimism!” a Chinese person interjected.
"The Wall Street Journal, the New York Times? These media outlets are only doing this because of Citibank. They know Lin Haoran is a Citibank shareholder and don't want to break ties with Citibank!" a white man said disdainfully.
Clearly, these people were not optimistic about Lin Haoran's takeover of MGM and were very pessimistic about MGM's future.
In a bookstore on Michigan Avenue in Chicago, several film school students are gathered in the magazine section, flipping through the latest issue of The Hollywood Reporter.
The golden lion on the cover had one eye replaced with Lin Haoran's face, making it look eerie and jarring.
"This cover is disgusting. What grudge could they have against someone to do this to them?" A Chinese-American girl with a ponytail frowned, her tone tinged with dissatisfaction, and put the magazine back on the shelf.
"That's called freedom of the press. It's their freedom to make the cover however they want. What's it to you?" The white guy next to him shrugged and picked up another magazine to flip through. "Besides, I think this cover is pretty good. What's the implication of replacing one of the lion's eyes with his face?"
Implying he doesn't understand the movie, and turning a blind eye—don't you think that's incredibly creative?
"Creativity my foot! This is racism, you know that?" The Chinese-American girl with the ponytail glared at him.
The boy raised his hands in surrender, his expression carrying a hint of exaggerated helplessness: "Okay, okay, I surrender. I won't say anything more, but let me tell you, you know how Hollywood treats Chinese people."
How many Chinese actors have been able to play leading roles in recent years? You can count them on your fingers. I think it's highly unlikely and unrealistic for a Chinese businessman to break into the inner circle of Hollywood.
In two years, once he's lost enough money, he'll naturally leave.
The Chinese-American girl with the ponytail didn't refute, she just sighed.
She knew he was telling the truth.
Moreover, she didn't actually think highly of Lin Haoran; it was just that, as a fellow Chinese, she couldn't help but want to speak up for her compatriot.
A breakfast shop in downtown Seattle.
“MGM belongs to Hollywood, it’s American, why should a Hong Konger buy it? What are those people in Congress doing? How can they just approve transactions involving cultural assets like this?”
"Why should we Americans sell our own stuff to others?" A young man eating breakfast and reading the newspaper said angrily as he looked at the news report.
These words resonated with many people.
The previously quiet conversations in the breakfast shop suddenly became louder.
Several middle-aged men who were eating fried eggs put down their forks, turned around, and had the same angry expression on their faces.
"That's right! MGM is a symbol of American culture, how could it be sold to a Hong Konger?"
A white man in a plaid shirt slammed his hand on the table, making such a loud noise that even the chefs in the kitchen peeked out.
"Those people in Congress, who usually meddle in all sorts of bills, why aren't they doing anything about this? What about the Cultural Heritage Protection Act? Doesn't it stipulate that foreign acquisitions involving important national cultural assets need to be reviewed? Where has that review gone?"
"You're too naive." A man wearing a baseball cap shook his head, a sarcastic smile on his lips. "A film company isn't exactly a vital national cultural asset. Who would care about a film company that's about to go bankrupt?"
Rich people can buy whatever they want, who cares about culture? Kecorian wanted to sell, Lin Haoran wanted to buy, the deal was done, the government collected taxes, and everyone was happy.
As for what MGM will become in the future, who cares? Those congressmen only care about their votes and donations, not about cultural assets.
“But MGM isn’t an ordinary company!” the man in the plaid shirt said, his voice rising. “It made ‘The Wizard of Oz,’ ‘Ben-Hur,’ and ‘Singin’ in the Rain.’”
These movies are part of our American culture, things we've grown up with. I can't accept letting a Chinese person take charge of the future of these classic IPs.
The man in the baseball cap shrugged. "So what if you can't accept it? If you can't accept it, why don't you go save MGM? Do you have the money?"
The man in the plaid shirt choked for a moment, opened his mouth, and his face turned even redder.
He has no money, of course he has no money.
He was just an ordinary office worker. Every month, his salary had to cover mortgage payments, car loan payments, and credit card bills. The money he could save wasn't even enough to buy a plane ticket to Los Angeles.
But that doesn’t mean he has no right to be angry.
“I have no money, but I have a mouth. I can curse, I can protest, and I can call on everyone not to watch MGM movies.” His voice grew louder and louder, and almost everyone in the breakfast shop was looking at him.
“I don’t believe that he can make money if all Americans boycott like I do.”
The breakfast shop was quiet for a moment, then a few scattered voices of agreement rang out.
Some people clapped, some nodded, and some buried their heads in their breakfast, pretending not to hear anything.
The man in the baseball cap looked at the man in the plaid shirt's flushed face, shook his head, and picked up his coffee cup to take a sip.
"Boycott? Do you think it's still the 1960s? Who are you boycotting? Do you even know what movies MGM has made in recent years? When was the last time you went to the cinema to see an MGM film? You don't even have anything to boycott, so what are you boycotting?"
A low chuckle rang out from the breakfast shop.
This morning, the news of Lin Haoran taking over MGM went viral across the United States!
However, due to the manipulation of the six major Hollywood studios and biased reporting by some media outlets, most people are pessimistic about MGM's future. (End of Chapter)