Century City, Relativity Building.

“At the first board meeting after Disney’s shareholder meeting, quarrel was the only theme.”

Robert Egg told Ronan what he learned: "I didn't expect that Disney's most kind Dick Cook would turn to Ryan Kavanaugh and David Ellison."

Ronan was also surprised and said, "Ryan Kavanaugh and David Ellison are very charming."

Having said that, when wealth accumulates to a certain stage, people will always exude various incredible charms.

Robert Eiger said: "Dick Cook's change in position gave Michael Eisner a strong voice on the board."

Ronan said directly: "They will start the war, hoping that this war will last for a few more years." He turned to: "Have you agreed on Wall Street?"

Wall Street is shorting Disney, but a considerable initiative is in the hands of Relativity Entertainment, and the horn of the offensive can only be sounded by Relativity Entertainment.

Because of the interests of the two sides, although Ronan did not participate, he also wanted to fight for the greatest benefit for the entertainment of relativity.

Robert Eiger said: "They got a good deal. They have gained a lot this time, and our conditions are far from reaching the bottom line, so it is easier to talk."

He added: "These companies, led by Goldman Sachs and Credit Suisse, provide a total of $1 billion in investments to the Pacific Investment Foundation at a four-percent annual fixed-yield rate, with a term of four years."

"On average, the family is less than $150 million, which is pretty good," Ronan said.

"This rate of return is too low in Wall Street's eyes," said Robert Iger. "They would rather play the Pangs scam than solid fixed income."

He also said: "With this funding and completing the acquisition of Pixar Studios, Relativity Entertainment can still maintain a very healthy capital chain."

Ronan nodded and asked, "When will we announce it?"

"Tomorrow." Robert Iger said: "They are ready."

A few days before Christmas in 2005, Robert Iger, CEO of Relativity Entertainment, announced to the public that Netflix's sharing account, which has been officially certified by Netflix, announced that due to huge irreconcilable differences in the negotiations, Relativity Entertainment completely suspended its cooperation negotiations with Walt Disney Company.

Relativity Entertainment goes to a team at the headquarters of Disney in Burbank every day to negotiate, and also withdraws the Relativity Building.

A day later, Steve Jobs also announced through Netflix's sharing account that because it was impossible to reach an agreement on the production concept, Pixar Studio unilaterally terminated the acquisition negotiations with Walt Disney. Pixar Studio will end all cooperation with Walt Disney after the release contract expires on December 31.

Not only through Netflix sharing, Steve Jobs also stood up to accept media interviews, claiming that he could no longer tolerate Michael Eisner, arbitrary arrogance.

After being squeezed by Walt Disney for many years, Pixar Studios and Steve Jobs finally exclaimed.

The love-hate entanglement between Pixar Studio and Walt Disney for more than ten years has also ended completely.

After losing Pixar Studios, Disney Animation Studio's production team led by Chris Buck and Byrne Howard officially handed the resignation to Disney and announced its resignation.

Michael Eisner has never liked Disney Animation Studio in recent years. In addition, the internal struggle for power and profit after the shareholders' meeting has been turbulent. After the liquidated damages are paid in place, he did not intend to retain the animation production team led by Chris Buck and Byrne Howard.

Although Disney Animation Studios has more than just this animation production team, it has lost the most Disney-born production power.

Pixar Studios has completely ended its collaboration with Disney, and the teams of Chris Buck and Byrne Howard are leaving to join Sandsea Entertainment, and revitalizing Disney animation will become a long way off.

No one has paid attention to these things at the top of Walt Disney for the time being. As Disney's stock price fluctuates violently, a series of problems have been caused.

Ronan no longer pays attention to these things. No matter who can control Disney in the end, he will face a huge mess.

After Christmas, Ronan paid due attention to Ang Lee and Brokeback Mountain's Oscars.

On the announced Golden Globe nomination list, Brokeback Mountain won seven awards, including Best Director and Best Drama.

At the same time, the film also received key nominations on several of the most critical weather vane awards.

Ang Lee won the Best Film Director nomination at the Directors Union Award, "Brokeback Mountain" won the Best Film Nomination at the Producers League Awards, etc.

The Directors' Union's choice for the best director of the year has always been one of the best weather vanes for the Oscars. In the past seventy years, only six Directors' Union Award winners have failed to finally win the Oscar Director's Award.

On December 31, the School of Film Arts and Sciences began to issue votes to nearly 6,000 judges distributed around the world, and the Oscars entered the sprint stage.

On this same day, the issuance contract signed by Pixar Studios and Walt Disney officially expired.

On the first day of the New Year, Ronan welcomed the highest level of Pixar studios such as Steve Jobs, Edel Camel, John Lasseter and Andrew Stanton at the Relativity Building.

Under the testimony of all aspects, Ronan, on behalf of Relativity Entertainment, signed a formal acquisition agreement with Steve Jobs, who represented Pixar Studios.

Relativity Entertainment acquired Pixar Studio through cash and equity exchange, and Pixar Studio has thus become a wholly-owned subsidiary of Relativity Entertainment.

In the News Hall, when Ronan shook hands with Steve Jobs, media reporters who had already been waiting for the audience pressed the camera shutter to record this moment.

The senior executives of Relativity Entertainment and Pixar Studio applauded, and Robert Lee and John Lasseter, who had originally represented Relativity Entertainment and Pixar Studio, also hugged them vigorously.

Both parties are very satisfied with the deal.

Relativity Entertainment has won Hollywood's leading animation content producer and the world's best animation technology provider.

Pixar Studios has stable marketing channels and sufficient funding sources.

Jobs pulled Ronan and stood in front of the media reporters to take photos, with a rare bright smile on his face.

Considering Jobs' recent physical condition and the signing ceremony did not arrange an interview, Ronan accompanied him to the back lounge and threw the work of dealing with media reporters to Robert Eiger and Edel Camel.

Back in the lounge and sitting on the spacious single sofa, Steve Jobs said: "Ronan, I didn't expect the day we were a real partner to arrive so soon."

Luo Nan replied casually: "We have always been close partners."

Jobs said these words and certainly had other purposes, saying, "I will help you get on the Apple board, and I hope you can support me."

Ronan said solemnly: "As long as you are still sitting in the position of Apple manager, I will be your strongest partner."

Based on his past experience, supporting Steve Jobs is completely in line with his interest needs in investing in Apple.

Jobs said rarely: "Thank you."

Luo Nan nodded slightly: "You're welcome."

In fact, Jobs has never lacked opponents within Apple, especially the smartphone project, which has been strongly resisted by the personal computer business faction.

There are conflicts within large companies. If you want to develop normally, you must suppress the conflicts to a certain range, otherwise Walt Disney will be the sign of the previous one.

Ronan asked: "When will Apple's first-generation smartphone be launched?"

Jobs thought for a while and said, "Try to do this year, but the test has not been completed yet and cannot be confirmed now."

Ronan said directly: "Steve, come out to try the prototype, remember to give me one."

Jobs said: "Yes."

The two never talked about Pixar Studio again. With the transaction being concluded, Steve Jobs no longer had Pixar Studio's equity, and Pixar Studio has already belonged to Relativity Entertainment.

Ronan and Jobs didn't talk for long, and Laurenna Jobs came in and reminded Jobs that it was time to go back and rest.

Since Jobs fell into a coma in India last time, his physical condition has not been very ideal. Fortunately, he stayed in North America and did not go to India to receive super-large treatment from his third brother.

After seeing off Steve Jobs, Ronan breathed a sigh of relief. Pixar Studio got it, not only the industry's number one animation studio and all its works have been attributed to Relativity Entertainment, but also the crucial animation production technology.

Most computer animation production in Hollywood nowadays uses equipment and technology developed by Pixar Studios.

Of course, this transaction is also very expensive.

Relativity Entertainment acquired Pixar Studios for a total price of US$6.3 billion. The transaction was completed by cash payment and stock exchange.

Among them, in terms of cash, the Pacific Investment Foundation and Bank of America provided US$1.5 billion and US$800 million in funds for Relativity Entertainment through investment and loans respectively. Relativity Entertainment used US$1.7 billion in cash reserves accumulated over the years, totaling US$4 billion.

The remaining $2.3 billion, under the condition that Steve Jobs insisted on not giving in, Relativity Entertainment could only exchange Netflix Network's equity according to Jobs' requirements.

Steve Jobs received 4.1% of Netflix Network shares, becoming the third largest shareholder after Ronan and Goldman Sachs.

However, Ronan still has as much as 73% of the equity of Netflix Network through Relativity Entertainment, and is still the absolute controlling shareholder of Netflix Network.

Such transactions that acquire high-quality companies must adopt premium acquisition methods, and Relativity Entertainment is no exception.

As Pixar Studio officially belongs to Relativity Entertainment, the animation production team led by Chris Buck also joined Shahai Entertainment and established an independent animation production department - Princess Animation Studio.
Chapter completed!