[Chapter 193: Leverage]
"Hopefully, we can have a great collaboration moving forward, Eric," Robert Shea said with a warm smile as he stood up after signing the thick contract.
Eric stood as well and shook Robert Shea's outstretched hand. "That's a sure thing, Robert." On the last day of August, after nearly a month of negotiations between both parties, Eric's Firefly Films finally acquired the venerable New Line Cinema for 15% equity and $60 million in cash. The two companies were far smaller than the Sony behemoth that had sought to buy Columbia Pictures, and unlike Columbia, they were not involved in as many aspects of interest and competition. With both sides eager to cooperate, things fell into place easily once the price was settled.
As a sudden upstart in Hollywood teaming up with an established second-tier film company, the rger between Firefly and New Line attracted considerable dia attention. After the signing ceremony, both sides held a brief press conference in response to dia demands, followed by the inevitable celebration party.
Although Eric preferred to stay quietly at ho, he knew that parties were always
unavoidable. If he hadn't declined countless invites, he would have been invited to so kind of party nearly every day by now, given his current status.
"Eric, I heard that the script you worked on for that test screening was quite popular, right?" Robert Shea asked.
"Yeah. But you probably know that I already signed a distribution deal with Disney for two films. They offered a great revenue share, which was hard to turn down." Eric nodded and briefly explained the situation to Robert.
Thinking Robert Shea was interested in the distribution rights, Eric took his ti explaining. Since they had signed the contract, Robert Shea was basically on his team now. He would serve as the CEO of the new Firefly Films, alongside Jeffrey, who was taking on the role of president. They were set for a comprehensive integration of both companies' operations over the next few months.
"No, I think you misunderstood my point," Robert Shea shook his head. "I'm not asking for the distribution rights. What I an is, since that test screening was so well-received, you must be good at writing horror scripts. I was wondering if you could personally take the helm on the next script for A Nightmare on Elm Street. What do you think?"
Upon hearing Robert's request, Eric recalled so information about New Line that he had observed earlier. As a crucial horror franchise for New Line, he rembered that Firefly had gathered a lot more detailed data during the negotiations than the muddled mories he had retained. The first film had grossed only $25 million, but due to its very low production costs, New Line had evidently made a substantial profit. The next three films had gradually increased production and distribution costs, yet each had still turned a profit.
However, the latest installnt was not looking good. Released on August 11, it had pulled in just over $16 million in its first three weeks and was projected to close around $22 million. After taking into account about $10 million in production and distribution costs, New Line hardly made any money.
After careful contemplation, Eric replied, "Robert, the horror style has already been set, and I doubt I could co up with anything new. Based on the box office numbers from the latest film, I think it would be prudent to pause this series for now. If audiences are tired of Freddy Krueger's nightmares, forcing a sequel would be counterproductive. Instead, waiting a few years for a new generation of young audiences to grow up, while the old audience gets nostalgic, would be the best approach to relaunch this series."
Robert Shea's expression shifted slightly upon hearing Eric's words. Despite understanding the logic behind Eric's reasoning, he still felt uncomfortable. Just after signing with Firefly, Eric was already talking about axing the sequel. It reminded him of kings from ages past wiping out influences from newly acquired territory, erasing any trace of what once was. Since Eric had lived two lives, when he sensed the flicker in Robert Shea's deanor, he quickly grasped the man's thoughts. He certainly didn't want this low-budget horror flick to sow discord in their new partnership. Thus, he quickly added, "But, Robert, those are just my personal insights. You know I'm still a newcor in Hollywood, and I'm sure I haven't considered all angles. So if you think it's necessary, the sequel could still go ahead. From what I know, the third and fourth installnts earned over $40 million, so this may just be an isolated misstep."
Robert Shea's expression softened slightly, realizing that Eric was making a concession. Given that the other man had budged, he wouldn't press the issue: "Well then, Eric, let's go with your suggestion. However, I think wrapping it up imdiately might not be ideal. Let's create one last installnt next year... um, let's just call it a conclusion to this series for now. I believe the idea of a finale could generate good box office returns."
"That's indeed a good idea," Eric admitted, slightly impressed by Robert Shea's cleverness. He then casually made a small promise: "Perhaps I could lend a hand in brainstorming the last script."
"Really?" Robert Shea couldn't contain his surprise. He thought Eric's previous words had implied a flat refusal, especially since Eric's scripts were highly regarded in Hollywood.
"Of course!"
Eric nodded decisively, adding in his mind that he wouldn't want to be credited for it. He didn't care about the superficial accolades or profits associated with being credited as a writer. If the final chapter didn't receive good reviews, he knew he would suffer the backlash. Among a group of creators, even if he was just a writer, he would certainly be the most visible target for fans' criticism.
Though it was said that those who often stood near the river would inevitably get wet, Eric didn't wish to be entangled with flop movies so soon after just stepping into the industry. Having a successful box office rate was his sharpest leverage at the mont. If he allowed its weight to diminish due to one or two films that had little connection to him, it would surely be a losing bargain.
This was also the reason Eric only opted to replicate the classics in his mind rather than shooting completely original films of his own design. Perhaps in a few years, once everything settled down, and his status in Hollywood beca unshakeable, he would be able to produce several scripts that he found personally intriguing, ones that had never existed in his past life.
*****
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