Chapter 421
I nodded, getting the gist of it. "Got it. If we can, let's get a few celebs to be our spokespeople to boost sales!"
Aisling quickly jotted down notes. I turned to the team and said, "I've got another idea: let's start an entertainment company. We've already got Dance Fusion Hall, a modeling agency, and a new media company. We've got the talent pipeline sorted. If we make a subsidiary that includes the modeling agency and the new media company, wouldn't it be easier to manage?"
Holly jumped in, "I don't agree! We're already juggling too many projects. We haven't hit financial trouble yet, but once VelocityMart launches, it'll be a money pit. Starting an entertainment company now will just add more pressure."
Mia chimed in, "I disagree too. Everlasting New Media is an independent subsidiary. Integrating it into an entertainment company would result in excessive complexity."
I glanced at Mia, realizing I was being naive. She had a stake in the subsidiary, and starting a new entertainment company would dilute her shares. Maybe she wasn't thinking that, but her point was valid.
Before Marry could speak, I said, "I didn't think it through. Let's table this for now." It was tough to develop everything at once.
Then Marry spoke up, "No, I think starting an entertainment company is really necessary!"
I was taken aback, and so were the others. Holly said, "Ms. Walker, you know the pressure we're under. If we start an entertainment company now, we won't be able to manage the cash flow."
Marry replied, "I get your concerns. WY Media Company is growing fast. The more stable the structure, the better we can handle risks. An entertainment company is essential. If we don't have enough staff, we can buy a small entertainment company. They already have artists, and if we don't have the money, we can get a bank loan!''
She continued, ''WY Media Company is a high-quality company with monthly revenue over $500 million and no debt. While a $1 billion loan might be ambitious, $300 million should be easy. Plus, with an entertainment company, our endorsement issues will be solved. Instead of helping artists from other companies, we can help our own! Also, an entertainment company can boost the brand awareness and value of our subsidiaries!"
Marry wrote on the board as she spoke, "If Dance Fusion Hall is valued at $100 million, adding EchoSphere, it can be valued at least $120 million! The modeling agency, though small, is valued at $5 million, but combined, I dare to quote $150 million! Similarly, our new media company is currently valued at $300 million, but combined, I dare to quote $1 billion! Do you get me?"
Everyone looked thoughtful. I had to admit, her plan was impressive! "So, the entertainment company is very necessary and needs to be sorted out quickly!" I looked at Holly. "Ms. Brown, any thoughts?"
Holly replied, "Ms. Walker is right; we can't let fear hold us back!"
Then I asked, "Mia?"
Mia said, "No objections here!"
Even if the new media company merged into the entertainment company and diluted the shares, its value would significantly increase. So I said, "Alright, let's get on it ASAP!"
The HR manager nodded. "Okay, Mr. Cena!"
"Marry will handle the loan and the acquisition of the entertainment company!" With the entertainment company matter settled, I continued, "Lauren, how's the real estate side of WY Media Company?"
Lauren, who had been quiet, said, "Buying land in Sevan City is too pricey. I'm looking at land in the nearby county, Joyville County. There are three plots up for auction: one near the county center by the hospital, one by the river that can be developed into river-view houses, and the last one in the southern part of Joyville County, near a new high school and elementary school, but it requires mountain excavation, so the land price is the lowest!"
I thought, 'Joyville County? Isn't that my hometown?' So I asked, "Got a map?"
"Yes!" Lauren pulled out a map already marked up. I took it and gave it a good look. The first plot was the priciest at $200 million, the second at $170 million, and the third was the cheapest at $120 million. But excavating the mountain was a big project, though the upside was no need for demolition.
I knew that area; I'd passed by it when I went home before. If developed, it could be pretty sweet. "I personally like the third plot, not just 'cause it's cheap. But you all need to discuss it further."
"Okay!" Lauren nodded.
"Got all the permits?"
"We spent $4 million, and all the necessary permits are in hand." The CFO, one of Rita's meticulous people, handed me the expense list, which was clear as day.
"Got a construction team set up?"
Lauren replied, "We've already contacted several big construction companies!"
"Alright, we'll outsource this time, but our people need to be on-site. Eventually, we need our own construction team!" I couldn't stand giving such huge profits to others, and who knew if they'd cut corners. If something went wrong, we'd be the ones in trouble. Plus, it was more convenient to use our own people.
Marry said, "Mr. Cena, I made a budget! If several projects start simultaneously, we'll need to spend over $200 million per month for the next three months!"
Spending $600 million in three months? Just thinking about it hurt!
Marry continued, "But one thing's for sure, we're also making money continuously. However, to keep a balance, it'll take more than six months."
In other words, during this period, we must keep spending money. I replied, "Let's get a loan first, $500 million! If that's not enough, I'll find a way to borrow more."I thought, 'Knowing so many people, borrowing one or two hundred million dollars shouldn't be a problem, right?'
I didn't like owing favors, but if it came to that, I wouldn't care. As the company grew faster, the pressure on me increased. "Meeting adjourned!"
Everyone left, and Marry walked towards me with a cup of coffee. "Headache?"
I said, "A bit!"
She walked behind me and gently massaged my shoulders. "With great power comes great responsibility. WY Media Company is already twice the size of Edward's company, and its valuation is three to four times higher. Edward took five to six years to build Walker Company to its current state, and you did it in just a few months! Naturally, you'll have more pressure than others."
I closed my eyes. "I get it. But with you here, you've lightened a lot of my burden. The company's growth owes much to you!"
"Don't be silly. Helping you is helping myself, isn't it?"
I felt touched and pulled her into my arms. "I'm sorry, I was too harsh last time."
Marry shook her head with a smile. "I didn't think you were wrong. In fact, I think you did the right thing. You are the leader of the company. WY Media Company can do without me or anyone else, but it can't do without you. Even if you're not in the company, you must always be aware of its every move! Actually, I was happy with what you said yesterday."
"You're too good, so good that I don't know what to say."
She kissed me on the corner of my mouth. "Want to repay me? Meet my parents tonight; they miss you."
"Sure." My hand slipped under her clothes.
She rolled her eyes at me and said, "Aren't you embarrassed?"
"My dad should be able to help with the public transportation company. Just say something nice, okay?" she said, panting.
"Okay, I got it!" I mumbled.
After kissing her, I felt satisfied. Then I went to Ocean Surge Tower. "Is Rita back yet?"
The receptionist said, "No, Rita said she needs two more days!"
I sighed, "Alright, got it. Is Ms. Martinez in?"
"Ms. Martinez is in her office."
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