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Published at 3rd of January 2022 12:27:45 PM


Chapter 675

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Philo asked, "what proposal?"

Mark said: "Warner is planning to enter China on a large scale. We are interested in your shares in Yali. Why not exchange shares?"

This is Mark's wishful thinking. If he exchanges some chicken rib outdated industries for Yari's shares, he will wake up and chew this big fat meat for Time Warner. He will be as stable as Mount Tai.

As for why not let the family foundation eat it? This is because the foundation has eaten enough fat. It's time to benefit people. Strong allies can make themselves stronger.

In August 2005, Yahoo exchanged US $1 billion plus Yahoo China for 39% equity of Alibaba group. Alibaba was fledgling and in a difficult situation. Yahoo injected capital to solve Ma Yun's urgent need. Because of this financing, Ma Yun obtained a feature he also mentioned: he is good at deception. " It's an ability to fool billions.

According to the prior agreement, the five-year treaty signed by Ali and Yahoo expired in October 2010. According to the treaty, Yahoo will increase one seat on the board of directors of Alibaba group from October 2010. Yahoo and Alibaba's management will share two seats. In addition, Yahoo's voting rights will increase from 35% to 39%. This means that if Yahoo takes action, it will seize control of the group.

Facing the difficult period of transformation, Yang Zhiyuan intended to annex Yali and help the company transform, but was rejected by the management of the company controlled by Ma Yun. In order to achieve the goal, the two sides have been fighting and making a lot of unhappiness.

Although Yahoo entered the Chinese market as early as 1999, it has done little in view of the previous policy restrictions on foreign investment in Internet value-added services.

It can be said that under the rule of Zhou Hongyi, former president of Yahoo Huaxia, Yahoo Huaxia has built a decent shelf structure targeting portals and search websites by launching a search network, creating an "e-mail alliance" and winning competitive ranking.

Yahoo Huaxia's revenue is mainly from search and advertising. Its revenue in 2004 was about 150 million to 200 million yuan, accounting for about 2 / 3 of the total revenue. Yahoo Huaxia's annual online advertising revenue was about 50 million yuan, and Yahoo China's revenue in 2004 was about 200 million to 250 million yuan.

According to the statistics of iResearch, in the search market, the share of the whole Yahoo system is 22.72%, ranking second only to Baidu and ahead of Google. In the paid search market, Yahoo Huaxia has a 40% market share and ranks first in the market.

But Zhou didn't have time to really make up for the shortcomings of the content. The soaring stock price of Netease and the preemptive trip of Baidu to the city immediately restrained Yahoo's edge in China. Because it has been swinging between portal and search, Yahoo Huaxia has not really made full use of the advantages of global information resources and made achievements in portal business.

Zhou Hongyi publicly hinted in an interview that Yahoo Huaxia's biggest mistake was to spend six months debating whether to develop an independent search engine in China.

Facing this dilemma, they decided to invest in Yali and hope to break out. Now, with Alibaba as the local alliance, Yahoo China's painstaking portal has finally found a red line, which is e-commerce. Then, paid search, online advertising, community services and so on will focus on e-commerce and form a new profit model.

This marriage is not a match. Yahoo's position is much higher than that of Yali. Moreover, the two sides will form an alliance. Wulibaba and its subsidiary Yahoo Huaxia will also make enemies on all sides. EBay eBay from the C2C field, Google sharpening its knife in the e-commerce search field, Tencent, which uses community services to enter the C2C business, will kill back the three portals of the search market. Baidu, which has just been listed, will become a strong competitor of the Alibaba system.

Whether the pain of the integration period can be ended as soon as possible and the synergy of various business lines will be related to the success or failure of aribaba and its largest single shareholder Yahoo in the next few years.

However, Merrill Lynch lowered Yahoo's earnings forecast for 2005 and 2006 because Merrill Lynch believed that the acquisition of Alibaba shares would dilute Yahoo's earnings per share to a certain extent. Yahoo announced that it would buy 40% shares (35% voting rights) of Alibaba with us $1 billion in cash and China business, so as to become the largest shareholder of Alibaba.

Merrill Lynch said: "considering Baidu's success on NASDAQ and Google's holding of Baidu shares, Yahoo must also take action." Merrill Lynch reduced Yahoo's earnings per share from 55 cents to 54 cents in 2005 and from 68 cents to 64 cents in 2006.

Merrill Lynch also said: "Yahoo is very clear that the acquisition will lead to diluted earnings per share, but as long as the acquisition decision is correct, the company is willing to accept this." Merrill Lynch's rating of Yahoo's stock remains unchanged and is still "buy", so the investment community is neutral.

Fortunately, Ma Yun and his team are quite outstanding. They survived tenaciously in the fierce competitive environment. When major shareholders want to cut leeks, they certainly don't do it.

Yahoo's board of directors is quite a headache, but they have plans. When the first five-year contract expires next year, they will restructure the board of directors of Yali to complete control of the company.

In Yahoo, the American business has encountered a bottleneck, and both Yahoo and Huaxia Yahoo are booming. They decided to use the overseas market to make up for the local problems.

But the mainland has always been the mainland. Now this change is very unexpected, but it also provides a possibility to protect the local interests at the expense of overseas interests.

Philo's heart pounded like seeing his first girlfriend.

But mark the devil is still tempting: "if it's an equity swap, we can convert it at the market price."

The equity of Times Publishing Group is better than that of Yali, who has not been listed in MI. Yahoo originally hoped to acquire this enterprise through bank financing, but now the other party is willing to exchange their "non core" industry, which is the best.

This proposal is equivalent to a beautiful woman saying to the lust ghost, "come here."

In the eyes of the world and many people, Yali's equity is a chicken rib and is Yahoo's "non core" industry. Yang Zhiyuan exchanged this part of equity with Yahoo Huaxia for us $1 billion. No one can tell whether it is good or bad, but according to Huaxia's fooling Wang Mayun, this part of equity is worth US $4 billion, but if it is sold, there must be no buyer, They reckon it's worth four billion dollars?

Ferrero said: "this is a major decision. I must go back and discuss with Yang, but you should believe my sincerity and I will reply to you as soon as possible."

Mark held his hand and sighed, "I'm just moved by your sincerity!" he looked as if he wanted to make a promise.

Barry coughed and interrupted the two men who wanted to make a promise. He said, "does the board agree?"

Mark said to Philo, who looked worried, "I'll get the board of directors."

"I'll be right back," said Philo

When Philo left, mark sneered: "second goods, how dare you be a boss at this level? Do you still have money to help people when they are bought?"

Barry said: "we'll wait for their reply, but I think we should let the board know a little before that, which makes everyone look better."

Mark said, "a group of guys who don't succeed enough and have more than enough to fail want to make a lot of money, and they don't want to spend money and take risks. Money in this world is so easy to make. If you want to make a fortune, listen to me."

Barry complimented: "yes! The people on the board are short-sighted. I don't know Mark's unique vision. If you want to achieve great things, you have to take risks. If you dare to take risks, you can achieve great things."

Mark said proudly, "Barry, your ability is not under egger. You can be another egger!"

Egger is already a legend in Hollywood. Mm can quickly become a contemporary media empire, relying on Mark's unparalleled power and egger's super integrated management ability. Joining mm makes egger achieve his life ideal and become one of the richest men in Hollywood.

Barry couldn't close his mouth with a smile and said, "it's all up to mark."

Mark said: "six years ago, I was just a junior high school student with nothing, a 20-year-old junior high school student. So many humiliations? Now I have everything I should have. Annexing marvel, annexing MGM Columbia, taking risks? But I succeeded. Is this my peak? I can tell you, this is just the beginning."

Barry said: "willing to cooperate with mark and never betray!"

Mark patted Barry on the shoulder and said, "we are allies. Our interests are closely related to the Communist Party."

As soon as Philo left the Time Warner Building, he immediately called his old partner: "Yang! Mark is a bully. His head was hurt by the door."

Yang Zhiyuan said, "what do you say?"

Philo said proudly: "this brainless guy, fooled by me in a few words, promised to exchange the time publishing group for aristoba's shares. This guy is brainless. He is still the boss at this level. He is sold and helps people pay."

Yang Zhiyuan said, "all industries are changed?"

"In addition to time magazine, all others have been changed, including fortune, life and sports illustrated," Ferrero said

Yang Qi garden shocked, said: "how can it be?" this part of the assets, nearly four billion dollars, can be cash, and Yali shares, nominal value of three billion, but people who have crossed the Internet technology companies know how big it is, just afraid that one billion can not change, YAHOO peak market value of about five hundred billion? Now a lot of meat and a lot of Ding Ding are only worth more than 10 billion. He said in a deep voice, "come back as soon as possible and explain what's going on."

Yahoo's interest in the Times Publishing Group is certainly not a matter for Philo to decide as soon as he pats his head. This is the opinion of several major shareholders. Let the more stupid and honest Philo try. This is also one of the plans, but no one expected that the result would be so smooth and amazing.

They want to raise billions and win the time publishing group. Unexpectedly, the other party's report is so low that they can't refuse it.




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