Chapter 177 – Sony Is Truly Formidable
After Thanksgiving comes the all-important Christmas season—the second-largest box-office window of the year, surpassed only by the summer blockbuster season.
Century City, Fairmont Century Plaza Hotel.
A lavish gala was underway, drawing in a constellation of Hollywood heavyweights. Directors such as Steven Spielberg, Francis Ford Coppola, and Martin Scorsese were in attendance, alongside actors including Tom Cruise, Kevin Costner, Sylvester Stallone, Meg Ryan, Julia Roberts, and many others.
Aaron arrived at the event with Nicole Kidman. The gathering had been specially arranged by Sony USA chairman Mickey Schulhof in honor of Akio Morita and Norio Ohga.
Morita was already advanced in age and spent most of his time recuperating in New York, while Sony's day-to-day leadership had effectively passed to Norio Ohga.
"Interesting," Aaron remarked quietly, his arm around Nicole as he watched Morita chatting with Francis Ford Coppola nearby.
Sony truly was formidable.
The company employed more than 400,000 people worldwide, operated 72 subsidiaries and 37 factories across the globe, and sold over ten thousand different types of electronic products in more than 170 countries.
With annual revenues exceeding five billion dollars, Sony had become the undisputed leader of Japan's electronics industry—a multinational giant spanning electronic equipment, precision instruments, and advanced devices.
Nicole Kidman frowned slightly.
"But Sony Pictures Entertainment is losing a lot of money, isn't it? It doesn't seem like much has changed back in Japan."
"Didn't they fire co-CEO Jon Peters last year?"
Aaron smiled faintly.
"That's because Norio Ohga stays in Japan most of the time. Sony America is essentially run by Mickey Schulhof."
He lowered his voice slightly.
"He knows Morita and Ohga want Sony to integrate into the American market as quickly as possible. Schulhof is very good at winning Ohga's favor—and he's earned his trust."
"Besides," Aaron added, "Sony's market share isn't small at all."
Sony's film divisions—Columbia, TriStar, Sony Pictures, and others—released nearly fifty films a year. Just this year, they had launched Sony Pictures Classics as a dedicated art-house label.
On top of that, Sony had signed several high-priced distribution deals with independent production companies. Taken together, Sony-backed films accounted for a significant portion of the box office.
As for losses?
Making movies always involved risk.
Mickey Schulhof simply kept submitting funding requests to Sony's headquarters—again and again.
Nicole made a face.
"Listening to you, it sounds like the Japanese are taking quite a beating."
"A beating?" Aaron chuckled, giving her waist a squeeze.
"This is just tuition. The price of learning."
"I'll catch up with you later."
Dawnlight had extensive cooperation with Sony Columbia, so Aaron went to exchange pleasantries.
Instead, he ran into David Geffen, and the conversation quickly turned to Interview with the Vampire.
"What do you mean—Anne Rice strongly opposes casting Tom Cruise?"
Aaron smiled faintly.
"As the original author, she's involved in script revisions and production now."
Geffen shrugged.
"My point is that Tom Cruise is perfect for the role—and Brad Pitt has already agreed to star."
October's A River Runs Through It, directed by Robert Redford, starred Brad Pitt and had already earned $28 million at the box office with solid reviews.
Geffen Pictures and Dawnlight were co-investing in Interview with the Vampire.
After Dawnlight collected its distribution fees, profits would be split according to investment ratios.
"I've spoken with Paula Wagner," Geffen added.
"Tom is genuinely interested in the script."
As for Anne Rice?
She could make suggestions—but whether anyone listened was another matter entirely.
"What do you think of Neil Jordan, the director of The Crying Game?" Aaron asked.
"You want him to direct Interview with the Vampire?"
Geffen immediately understood. The Crying Game was still in release, earning praise; whether it would translate into Oscar success remained to be seen.
"Once the script revisions are done, we can show it to him," Aaron said.
---
Meanwhile, Jack Wells was in Irvine, Orange County, meeting one of Heidi Fleiss's escorts.
He accepted a small recording device and listened.
"A few racist remarks, some misogynistic comments…"
Jack shook his head.
"Not bad—but too short. Not nearly enough."
"She's filing for divorce," the woman said.
"He's worried about private investigators. It's hard to get close."
"Fine. Call me immediately if he contacts you again."
Jack handed her a thick stack of cash.
"Understood."
After she left, Jack leaned against his car, lit a cigarette, and stared at the recorder in his hand.
Was this enough to force Donald Sterling to give up the Clippers?
Los Angeles had only recently endured riots earlier that year; racial tensions were still explosive.
Under David Stern, the NBA was extremely sensitive to these issues—but this evidence was still too thin.
The valuation gap between LA's two NBA teams was massive:
the Lakers were second only to the Knicks in worth,
while the Clippers' value stemmed largely from Sterling moving them into the LA market.
---
At the same time, Charles Johnson of Franklin Templeton met Les Wexner, founder of Limited Brands, aboard a yacht in San Francisco Bay.
"You want to acquire Victoria's Secret?"
Wexner looked genuinely shocked.
He had spent ten years building Victoria's Secret into America's leading lingerie retailer—and now Franklin Templeton wanted to buy it outright?
"We're very optimistic about its future," Johnson said calmly.
"With international expansion, the upside is enormous."
"Franklin Templeton only wants a controlling stake. Limited Brands would remain a shareholder."
After meeting Aaron Anderson, Johnson had quickly convinced his board.
Even without Aaron's participation, acquiring Victoria's Secret was an excellent deal.
Aaron's involvement merely strengthened their resolve.
Wexner shook his head firmly.
"Charles, you know how important Victoria's Secret is to Limited Brands."
"I have no intention of selling it."