[Chapter 142: Reaping the Consequences, Seeking Help from the White House]
In 1979, Harvey Weinstein and Bob Weinstein, two brothers, joined forces to establish Miramax Films. The company mainly focused on producing low-budget movies as their core strategy and achieved trendous success.
Later, the company ventured into film distribution and gradually expanded into developing independent films. Thanks to their keen eye and cost control, several independent films achieved box office success and won nurous awards.
By the late 1980s, they proactively participated in major film festivals to acquire film rights. Their precise judgnt earned huge profits from the films they bought.
Especially in 1988, Harvey made a significant move at the Sundance Film Festival by acquiring the rights to three films at once: Steven Soderbergh's Sex, Lies, and Videotape, Giuseppe Tornatore's Cinema Paradiso, and Jim Sheridan's My Left Foot.
These three films reaped rich rewards at the 1990 Academy Awards. Cinema Paradiso won Best Foreign Language Film. My Left Foot took ho Best Actor and Best Supporting Actress awards. Sex, Lies, and Videotape won Best Original Screenplay.
The Oscar wins boosted the box office and rights inco for these three films, elevating the company's developnt to a new level.
Miramax Films had grown into a pivotal independent movie company in Hollywood, placing among the top tier below the major seven studios.
...
During the 1992 U.S. presidential election, the Weinstein brothers sided with the Democratic candidate Bill Clinton. They poured in money and effort, traveling extensively and contributing significantly to Clinton's eventual victory.
Before 1992, California was traditionally a Republican stronghold. However, due to the Rodney King case, the Democratic Party and Jewish dia groups orchestrated the Los Angeles riots. Combined with Hollywood's hardcore supporters stirring public discontent against the incumbent Republican administration, they flipped California in the 1992 election, securing its 55 vote share.
Despite George H.W. Bush's achievents, like overseeing the Soviet Union's dissolution and winning the Gulf War, he lost the election largely due to losing California.
After Clinton's victory, reciprocation ca in the form of substantial support for Miramax Films. Harvey began to grow increasingly arrogant and overbearing. Naturally, movie investnts also broke out of the low-budget range, turning into lavish spending.
Three films were approved this year: The Night We Never t, The Innocent, and the trend-following Dance Fever High, inspired by Step Up, each with budgets exceeding $10 million. The Night We Never t and Dance Fever High were already in production.
...
Due to their outstanding performance and massive influence in the indie film sector, Miramax even attracted Disney's interest this year.
In February, Disney launched a takeover bid for Miramax, and the two companies negotiated over acquisition price and equity shares.
...
At this mont, in the Miramax president's office, Harvey Weinstein slamd a teacup onto the floor, roaring loudly: "This is outrageous! They're demanding $20 million in damages! Tell them I won't pay a single cent."
"Sir, please calm down. Now's not the ti to act on impulse. I heard Universal got so dirt on the actors' union and even recorded it on film. If we don't settle, they'll release the footage to the dia," Harrell, his sycophant, cautiously advised.
"What dirt? What footage?"
"Haas sent people to stop a few troublemakers on the Step Up 2 set. On cara, these people openly said the crew didn't violate any rules and that there was no need for rectification. The crew's troubles were caused by Haas Carsonberg deliberately harassing them."
"Useless! They can't even handle this, and there's evidence on record. Why didn't Haas co to directly or call ?"
"He's truly useless. Haas is overwheld now, and it's a ss inside the union. All the top brass are against him, demanding his resignation. Before he leaves, they want him to implicate us, at least forcing us to bear the compensation costs. Otherwise, they'll charge him with dereliction of duty.
He's biting his lip, refusing to implicate us and avoiding eting or talking with you, but he asked to tell you he won't hold out much longer. If we refuse to pay, he'll have no choice but to expose us."
Hearing this was like a bucket of cold water poured over Harvey. Miramax wasn't one of the big seven studios. If they made enemies with both Universal and the Hollywood Actors Guild, their future would be bleak. More importantly, Disney's acquisition would surely be shelved or completely fall through.
But $20 million in damages -- even draining the cash flow wouldn't suffice. What could they do?
He never imagined this rash action would lead to such a disastrous outco. Now, he was filled with regret.
After silently pondering for a long ti with no good solution, he decided to seek outside help, believing soone powerful in Washington could suppress this issue.
"Book the fastest flight to Washington."
---
On March 21, at the Ovis Golf Club, Levitt and Lou Wasserman invited Linton to play golf. On the spacious course, Levitt dismissed the caddie and addressed business.
"Linton, the situation has changed."
"What change?"
"Yesterday, the White House sent a staffer, Chris Hank, to diate and pressured us, demanding we waive the compensation."
"A White House staffer? Do they have jurisdiction over this?"
"Officially, no, but being from the White House ans representing the President's will. We have to take it seriously."
"You scared?"
"No way! This is a land of capital, and we represent the big capitalists. Besides, we're all Democrats -- it's the sa camp, we have to show the support."
"I won't change my stance. Not even if the President himself shows up. Without a beneficial deal, I won't budge."
"Of course, we don't ask you to cross your bottom line, just to coordinate negotiation strategy."
"How so?"
"Our previous offer to the actors' union was to have Haas resign and pay $20 million."
"$20 million, good. They need a lesson," Linton nodded, realizing that for a 40% profit share, these two had guts bigger than his own.
"Since Chris represents the White House, we should give so respect. Our plan is to offer a discount, lowering compensation to $16 million."
"Alright, I have no problem. I stick to the terms I agreed with you earlier."
"Chris might try to pressure you. We must stick to the bottom line: $16 million because the losses are too big this ti. Don't be fooled."
"Don't worry. I won't et him alone. If at all, it'll be together with you guys. Lowering by $4 million is already a big concession."
"Ha ha ha..."
*****
spatreon/Sayonara816.
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