Chapter 648 (1/2)

Upon receiving Simon's offer, the Hurst family fell silent again.

Before all this, even if ESPN shares are lost and a huge compensation of $370 million is paid, the Hurst family will not be hurt.

Now it's different.

Due to the comprehensive block and lawsuit bombing of westrow system, the continuous abandonment of business partners and the public indignation caused by the exposure of murder scandal, the assets of Hurst group have been depreciating rapidly at a visible speed recently.

Like Simon's 100% control over westero, the Hurst family also firmly controls all the shares of the Hurst group, the ultimate parent company of the Hurst media empire, through family members' individual shareholding and family trust.

Although many of its newspapers, magazines and TV assets are joint ventures, most of the losses still need to be borne by the Hurst family.

With the deterioration of business conditions leading to the depletion of their own cash flow, external financing channels such as bank loans and bond issuance have been cut off. Hurst group now wants to raise 370 million US dollars, only by selling its assets.

However, not only has the major newspapers and magazines of Hurst group depreciated sharply recently, but potential buyers will not miss the opportunity to further reduce the price. If the Hurst family wants to cash out by selling assets, it can only sell half of the price before the storm in the short term. In other words, if it wants to raise $370 million, Hurst group will have to pay a similar price When it comes to the initial double price.

Considering the shares of ESPN, the Hurst family just needs to pay $1 billion to solve the problems of the westrow system.

Even though many people in the Hurst family know that it is the best policy to survive by breaking their arms, it is difficult to persuade themselves and other members of the family to bear the massive bleeding of cutting flesh with a one-time loss of $1 billion, and would rather bleed themselves to death.

Simon, of course, would not make an offer and then ignore it.

Under the operation of the westero system, the media continue to carry out high-intensity attacks on the Hearst group. Under the pressure of public opinion, the federal authorities have recently launched some other investigations against the Hearst group.

Because of William Hurst III's evasion, after Doris Fischer's family also filed a claim of up to $600 million, in order to avoid William Hurst III's transfer of assets, the federal authorities also urgently sealed up the stocks, properties and other assets under William III's name.

Not only Roger hols, assistant to William III, who has been arrested and failed to pay enough bail, but also some other members of the Hurst family and some senior members of the Hurst group have been summoned by the FBI's Doris Fischer murder case team to cooperate with the investigation.

The rampant murder continues to erode the credibility of the Hearst group.

Simon didn't let people disclose the monitoring of the whole process of Doris Fischer's suicide, because it was easy for the public to think of death as hopeless. However, this kind of evidence that can make William Hurst III completely lose the room to overturn the case, of course, he will not ignore it, but let someone pass it to the FBI ad hoc group through anonymous channels.

On the other hand, with the encouragement of media opinion, the trend of unsubscribing from newspapers and magazines of Hurst Group continues.

Many competitors of Hearst group's newspapers and magazines will not miss this opportunity. Recently, they have launched various promotional activities and spared no effort to snatch user resources from the media of Hearst group. Apollo management company of cersei capital has specially set up a supporting fund of about 200 million US dollars to provide support for those who are affiliated with Hearst group The media compete with newspapers and magazines to provide financing.

The decline of American paper media industry is irresistible.

A few decades ago, Hurst group could still hold on to the storm and regain its lost market share by various means. Now, because of the overall shrinkage of US paper media users, this loss of users is basically irreversible.

Hurst group is slow. Under the influence of westrow system and other capital forces, many newspapers and magazines of Hurst group are not willing to wait.

During this period, the joint venture shareholders of seven newspapers of Hearst group have proposed to buy back the shares of newspapers held by Hearst group, and even asked the authorities to intervene and actively facilitate the transaction on the ground that the scandal of Hearst group has affected the newspapers themselves and the work of employees.

Of course, the offers of these joint venture shareholders are very low.

It can be said that under the pressure of the westero system, if the Hurst family can not break up as soon as possible, the old media group will fall apart due to the deterioration of all aspects of the business operation at most one year.

After the weekend, as soon as Simon and Janet took off to the east coast, Veronica stayed in Los Angeles this week to assist Denise entertainment management in some audit work before the listing roadshow.

The Hurst family is in a precarious state, and the westrow system is not easy at all.

It is not only necessary to deal with the public opinion storm caused by a series of information disclosed by the Hurst family, but also the vigilance and suppression of the continuous rise of the westero system by the federal government and business circles are more frequent.In March, a series of lawsuits against the monopoly trust accusations of ”Cisco AOL igritte” Internet giants have been settled in only three cases, and the others have entered into formal proceedings.

The westero system is rich and powerful. If it is a simple lawsuit, it will be enough to bring many small enterprises to bankruptcy. However, the potential large-scale antitrust risk brought by these lawsuits is something westero system has to be cautious about.

Therefore, we have to admit that the April genocide in Rwanda not only distracted the attention of the federal public from some massacres, but also successfully covered up all kinds of lawsuits faced by the westero system.

Recently, westero system spared no effort to crack down on Hurst group and to win over other old brand print media forces, which to a large extent restrained the North American media from boosting the topic of ”westero system monopolizing the Internet industry”.

Some time ago, after the federal government rushed to ”express their opinions” against the westero system, although most of the opponents were still in a state of verbal abuse, Washington was no longer so good at talking about the westero system in many ways. At least, all the bills pushed by the westrow system have been stranded.

On the other hand, cersei capital's recent acquisition of the asset management department of State Street bank has also encountered obstacles in Congress.

The Financial Services Committee of the house of Representatives questioned the deal and asked cersei capital to explain how to ensure the safety of investors' funds 100% when black rock asset management company has been in charge of more than 200 billion US dollars.

If cersei capital fails to give a guarantee, Congress will block further progress of the merger.

This kind of query is somewhat rogue.

Because the house of Representatives did not define the ”financial security” it demanded in the letter of inquiry.

For the Wall Street financial giants, to ensure the safety of investors' funds, this is the most basic requirement. The general criteria are to inform investors actively when making major investment, not to use funds for trading outside the contract, not to conduct insider operation, etc.

If that's all, cersei capital can guarantee it.

Although the overall asset scale of Heiyan asset management company is very large, the investment purposes of the funds from different clients in dozens of sub funds have been clearly defined in the contract. Many funds are even kept by cerxi capital, and the investment decision-making power is still in the hands of investors.

However, after cersei's reply to the house's question, the other side still tangled.

After several explorations, Janet made it clear that the old men in the house of Representatives probably wanted black rock asset management company to make a promise of only making money but not losing money. This is the other party's so-called ”capital security.”.

In this world, there has never been a business that only makes money but does not lose money, and there is no such reason on Wall Street.