After Guo ngyao left, Chen Feng returned to his normal life, staying at ho watching novels on his phone.
However, he didn’t stay quiet for long. With Wu ngting’s reminder, the background investigation reports of those three film companies were all out, and he needed to make a decision.
Chen Feng carefully read these three reports. The investigation was rather detailed, and the company’s history, asset structure, organizational structure, and operational status were written in detail, with illustrations.
Most notably, the report also detailed the company’s shareholders and several high-level executives, including their social background and educational background, which is rare. No wonder it took such a long ti to get this done.
The money spent was quite worthwhile.
After reading the detailed background information of these three film companies, Chen Feng had a rough idea. None of these companies could be considered a large-scale film company; one had an investnt of only 3 million, and the largest investnt was only 10 million, and the common feature of these three was that they were all currently losing money.
The largest film company currently owes more than 10 million externally, including 6 million to the bank, with the rest owed to individuals from various units, including backlogged wages for directors, actors, and other film staff totaling several million.
The specific reasons for the losses of the three companies are largely the sa: failed investnt in film and TV projects, especially the largest one that last year invested in an ancient costu drama adapted from a popular BL novel. For this, they carefully selected two Flower Handso n as the male leads and signed them, investing 20 million into the project.
But once shooting started, everything went wrong. One of the signed Flower Handso n had a car accident less than a month into shooting, got injured on the face, and needed reconstructive costic surgery, which would take at least two to three months to recover.
Switching at last minute was obviously not feasible. After all, it had been almost a month of shooting, and it’s not easy to find another Flower Handso Man with passable acting skills, is it?
So, they could only wait for this Flower Handso Man to recover before shooting his scenes.
Thus, two months later, the crew finished shooting nearly all other scenes, finally waiting for this Flower Hand Man to recover and get discharged to shoot his scenes. The filming went smoothly enough, taking about a month, and finally completed.
Next ca the intense post-production work, hiring the industry’s finest post-production team for almost three months to finally produce the ambitious ancient costu drama, with excellent production quality.
Imdiately following was the submission for review, then disaster struck; several reviews failed, requiring modifications to many parts, even cutting many wonderful scenes and shots, still failing to pass.
Everyone actually knew the reason: this ancient costu drama was essentially about male-male love, clearly not recognized by the mainstream dostically. Even though friendship replaced love in the TV drama, so scenes and shots still displayed quite explicitly.
In the end, the company painfully cut many explicit and ambiguous scenes and shots, but still failed to pass the review.
More frustrating was that at this ti, a limit on ancient costu dramas was implented, further compressing the market for such dramas.
Thus, this film company felt like it was neither alive nor dead. Their ambitious ancient costu drama is still stuck at the review stage.
This single project caused this film company to bleed financially, intending to package for external sale, including over 10 million in debt.
It’s just that no one is stupid, this hot potato had been released two or three months ago, and still, no one wants to take it.
However, among the three companies, Chen Feng was most interested in this company. The reason is simple: this company is the largest in scale, with the most mature internal organizational structure, and the company has contracts with several promising new-generation artists.
Included are two well-regarded Flower Handso n, who each signed five-year contracts before shooting this company’s invested "Mountain Order".
In the background investigation, there are detailed introductions and photos of these two Flower Handso n. After Chen Feng looked, even as a man, he had to admit these two n are indeed very handso.
No wonder this company was previously ambitious, determined to make a hit with "Mountain Order", but man proposes, God disposes, the review stuck them. Due to insufficient funds, the company suddenly found itself in peril.
After reading the three detailed reports, and a comprehensive comparison, Chen Feng decided to first make contact with this company, New Bright Film and Television.
The company’s headquarters is in Xiu Zhou, Wu ngting imdiately contacted the counterpart’s manager. As soon as the other party heard of the intention to acquire their company, they imdiately agreed to et; he was at the company today and was available to et at any ti.
Chen Feng and Wu ngting had no other plans, so they went straight to the company’s location. It’s in a dium-to-low-end office building, with over a hundred square ters. It’s hard to imagine that this company, with a 10 million investnt, invested 20 million shooting an ancient costu drama, would have such a shabby office.
When they arrived, they saw the rental advertisent board at the door, the two glass doors weren’t closed. After entering, there was no one at the reception, and after passing the public office area here, there was also no one.
Chen Feng shouted a few tis inside with no response. Just as he was about to have Wu ngting contact the other party via phone, a middle-aged man ca out of a room urgently from the innermost area, with wrinkled clothes, slightly ssy hair, gray complexion, and looking not very well.
He was the boss of this company, Chen Xinyao. The company’s na is his own na; he is a rich second generation, chased stars in his youth, loved television and films, so when he inherited his family business he invested in establishing this film company, holding 85% of the shares of the company, while the rest of the shares were generously distributed initially to attract talent.
The company has been established for nearly ten years and previously produced several minor hit film and TV works, not profitable but not at a loss either. But in the past two years, the company started having bad luck, each year’s performance worse than the last.
This led Chen Xinyao to decide to go big last year, and then directly ruined himself.
The company now owes nearly 20 million externally. If it were a few years ago, he still had other businesses and family estates, not unable to make ends et. But in the past two years his other businesses also didn’t do well, not making money but instead losing a large sum.
Thus, in such internal and external difficulties, he had to sell New Bright Film and Television externally, if soone was willing to pay 50 million including nearly 20 million in debt repaynt, he would hand over the company.
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