Chapter 420: Chapter 230: Start with Migaoi – Part 3
“According to tax law, companies registered in tax havens like the Cairo Islands do not need to pay taxes, indeed. But the registration location of DLJ Commodity Bank Partnership seems to be in the Eagle Sauce Country itself, which ans that this $4.8 billion leverage had a 7% tax due, which you diluted under the guise of the five major financial groups.”
“Shall I invite these major financial groups over for a thorough verification of that leverage fund from back then?”
Upon hearing this, the three Smolletts’ faces turned pale, and they imdiately looked at each other, a deep confusion evident in their eyes.
Because the funds and equity structure David was talking about were confidential and the innermost secrets of the Migaoi Film Company.
So how had David managed to investigate so clearly now?
It’s no wonder he was able to find so many problems with Fox Film Corporation’s stars and films.
Considering the investigation into Fox Film Corporation and now the disclosure of their own secret information at Migaoi, did that an the Western Suburbs Branch held similar confidential or scandalous information about the other major film companies?
“Director David, I don’t know where you got this news from, but this $4.8 billion leverage has been verified and approved by regulatory authorities, there are absolutely no issues!”
Smollett fluctuated between shades of hope and worry for quite a while, since the matter involved too many consortiums, he dare not admit it straightaway, wanting to feel out how much David knew about the inside details of this leverage deal.
“Fine, if you don’t admit it, that’s not a problem!”
David didn’t rush to counter him, and continued to speak lightly, “With the transfusions from several major financial groups, your Migaoi did show signs of coming back from the dead, but unfortunately, you had bad luck again when the financial crisis broke out in 2008.”
“Struggling for another two years, by 2010, the consortia that had seen no hope started to abandon you, forcing you to declare bankruptcy and seek a buyer for a takeover.”
“Eventually, a company called ‘Telescope Entertainnt’ took over your company, but this takeover… wasn’t quite the sa as those by the previous financial groups…”
Hearing this, the three silent Smolletts suddenly beca tense.
David showed no signs of stopping and continued, “Under Telescope Entertainnt’s leadership, you invested in ‘The Hobbit’ trilogy and ‘007: Skyfall’.”
“Following ‘The Hobbit: An Unexpected Journey’ with a global box office of $1.017 billion, ‘The Hobbit: The Desolation of Smaug’ once again garnered $925 million worldwide, plus the 007 series ‘Skyfall’ achieving a grand success with box office earnings of $1.108 billion.”
“This enabled the investors, which is Migaoi, to successfully escape the debt crisis, and your company refreshed its television and film business, launching new films in 2014 including ‘Robocop’, ‘Hercules’, ‘Teenage Mutant Ninja Turtles 2’, and ‘The Hobbit: The Battle of the Five Armies’, truly achieving a resurrection from the dead!”
“But back to the point, your later releases are indeed trendously successful, but are you certain they will withstand our investigation?”
David’s last sentence was very clear.
Although the films released by your company were indeed popular in the market…
To grow big and strong in Hollywood, one must take unconventional paths.
Even a company as large as Fox inflated various film funding costs in order to boost the market value, finally selling to Disney for a good price.
Your Migaoi is just trying to replicate Fox’s strategy, aren’t you?!
Smollett, sweating and anxious, asked, “Director David, what do you an by that? Our movies have been rigorously market-tested, how could they not withstand investigation?”
“Stop bullshitting . Migaoi is currently in talks with Amazon for an acquisition, you really think we don’t know?”
Seeing Smollett still equivocating, David grew displeased.
Upon hearing David’s words, the three Smolletts were suddenly stupefied, even their mouths twitched involuntarily.
“For a giant corporation like Amazon to acquire a film company of your stature, it will definitely require approval from the Oung antitrust regulatory authorities, and with your company’s multitude of shady dealings, getting through just has four words, almost impossible!”
“So several of your executives have been busy ‘entertaining’ officials from the Oung antitrust regulatory body recently, need we take action on this matter?”
Previously, through his scrutiny, David had obtained the most important piece of information: that Migaoi was in talks for an acquisition by Amazon.
Today, the Hollywood film industry is actually on the decline, as are the Big Eight film companies.
In this era of capital rule, if you want your company to survive, you must find a strong backer.
The Fox Film Corporation found such a giant in Disney, and in 2019 it was acquired by this behemoth, successfully securing ‘a thigh to cling to.’
If Migaoi wants to continue to survive in the film industry, then the best choice is also to find a backer, and according to the information scrutinized, they have chosen Amazon, the internet giant.
And the deal between the two parties has now reached a critical juncture. If their tax authority intervenes, or exposes a scandal for Migaoi, that deal is dood!
Realizing this, David crossed his arms over his chest. Migaoi had gone to great lengths to make their financial report look more appealing to Amazon.
He didn’t believe the high-ranking executives at Migaoi would want their company to be hit with a scandal at this critical point.
If they didn’t want a scandal, they would have to do as he demanded!
In fact, after hearing from David about Amazon’s desire to acquire them, the three Smolletts had completely lost their composure.
Because Migaoi had bet everything on the success of being acquired by Amazon, and if David really caused a scandal at this stage, the deal would be 90% likely to fall through.
Such an outco would not only face them with bankruptcy, but the entire company would suffer as well, and the shareholders who held stock would be out for their blood!
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