[Chapter 255: Public Opinion]
After spending some time in Hawaii, Link returned to Los Angeles to address some work-related matters.
First on his agenda was the box office performance of several films.
Dumb and Dumber had been in theaters for six months, raking in $127 million in North America and $247 million worldwide. Speed had grossed $132 million in North America, with a global total of $374 million. International audiences responded more favorably to Speed than to Dumb and Dumber, making it the year's biggest youth-oriented film. Keanu Reeves and Sandra Bullock emerged as the new generation of teen icons.
Se7en, with a current North American gross of $293 million, was projected to cross the $300 million mark shortly, with a worldwide take of $682 million and expectations to exceed $700 million next week, making it the second film of the year to break that milestone after The Lion King.
In August, Guess Pictures released a new film directed by Ang Lee titled Eat Drink Man Woman. It had already earned $4.72 million in North America and $8.03 million globally, with an estimated total near $10 million and a box office ratio of 3:1, indicating a hit.
...
Following the summer release season, Guess Pictures had four more films slated for release. The first was Luc Besson's Leon: The Professional, the second was Richard Linklater's Before Sunrise, the third starred Jim Carrey in The Mask, and the fourth was Good Will Hunting. The company had already begun promotion for the first two films.
...
The third item on the agenda involved negotiations. After several rounds of discussions, Link secured a partnership with Warner Bros. through the William Morris Agency to officially direct and produce the next Batman movie, gaining full creative control of the project.
...
This news sent shockwaves through Hollywood. Rumors had circulated that Warner Bros. had attempted to undermine Link and Guess Pictures' films during the summer, leading many to believe there was a mutual hostility that would continue. However, as summer ended, a surprising truce was established, resulting in a collaboration on the highly anticipated Batman sequel.
This rapid turnaround caught many off guard. Link's partnership with Warner Bros. revealed much. First, it highlighted Link as Hollywood's most bankable director, with significant pull in the marketplace. Warner Bros. was known as one of the most powerful distributors in the industry, and joining forces on a project like Batman was undeniably a win-win situation.
If this project succeeded, a closer alliance could form, enhancing Link's standing in Hollywood and solidifying Warner Bros.' dominance in the industry. Moreover, with the improvement of ties between Warner Bros. and Link, it was likely that future pressure on Guess Pictures would lessen, allowing for smoother development ahead. If the momentum of the past two years continued, Guess Pictures could very well become one of Hollywood's most formidable film companies, rightfully dubbed the "Eighth Major."
Finally, among the major studios, after Columbia Pictures and MGM, Warner Bros. chose to partner with Link, with three of the seven major studios establishing working relationships with him. This shift could significantly alter the landscape of Hollywood.
Questions arose as to how Universal, Fox, Paramount, and Disney would respond to Guess Pictures -- whether they would continue pressure or follow Warner Bros.' lead. The future of the anti-Guess Pictures alliance led by Michael Ovitz remained uncertain.
Entertainment Weekly addressed this issue, stating that the collaboration between Warner Bros. and Link was a reaction to competition losses during the summer. During the summer season, Warner Bros. and allied media companies pressured Guess Pictures, forcing Link to ramp up promotional efforts. If Link had failed, Guess Pictures might have faced detrimental impacts on its development. Fortunately, Link succeeded; Speed and Se7en both performed exceptionally well at the global box office.
Conversely, Warner Bros. released five films during the summer, each with budgets exceeding $50 million, yet only one, Maverick, crossed the $100 million mark, with the others suffering dismal outcomes. This failure prompted Warner Bros. executives to change their stance and collaborate with Link.
Entertainment Weekly warned industry professionals not to assume that the shift in attitude from Warner Bros. signaled a gentler competitive landscape for Guess Pictures -- rather, the next three years would likely see intensified competition. With the addition of Guess Pictures, the former seven major studios now comprised eight, resembling eight sharks ready to devour over 90% of the box office.
Smaller companies would struggle to secure funding through films and survive in this climate, while Guess Pictures' rise would exacerbate competition among the major studios. Entertainment Weekly predicted that many smaller production companies might fold in this competitive environment, while even the less competitive big studios could face bankruptcy.
...
"Michael, have you read this article?"
At the Death Star building, CAA Vice President Ron Meyer waved a copy of The Hollywood Reporter. "Rumor has it that after Warner Bros., Universal and Fox are also looking to collaborate with Link. Even Disney and Paramount might not be inclined to undermine him anymore."
Michael Ovitz stood by the floor-to-ceiling window, smoking, his features obscured by smoke, his expression shifting between worry and contemplation, his voice hoarse and gravelly.
"It doesn't matter. Link is Link, and Guess Pictures is Guess Pictures. They see Link's films making money, so partnering with him makes sense. But the rise of Guess Pictures continues to threaten the position and interests of the seven major studios. They might let Link slide, but they won't spare Guess Pictures."
"So, the majors will still pressure Guess Pictures?"
"Absolutely. I've spoken with executives at Warner. From a macro perspective, continuing to pressure Guess Pictures to stifle its growth aligns more closely with Time Warner's interests. They intend to continue suppressing Guess Pictures in distribution channels, forcing them to hand over distribution rights or invest more in marketing, just like over the summer. This time, luck was on his side, but next time it might not be. If he fails once, Guess Pictures will face significant setbacks, and the major studios will collectively attack."
Michael gestured emphatically, his demeanor invigorated. "Universal, Fox, and Paramount are similar. They might consider collaborating with Link, but they won't sit idly by as Guess Pictures grows larger. They want Link to be a money-making tool in their hands, not a capable rival."
"This could be a long process. Guess Pictures has already merged with Good Machine and Trimark Pictures, significantly boosting their production and distribution capabilities. Moreover, their victory during the summer box office battle yielded hundreds of millions in revenue, enhancing both their financial reserves and risk resilience. Given Guess Pictures' current status, it would be challenging for the major studios to overpower them even if they united, and a true alliance among the majors is unlikely. Due to these conditions, I recommend you withdraw from any actions against Guess Pictures; it would benefit both you and CAA."
Ron Meyer queried.
Michael Ovitz put out his cigarette, his expression turning muted.
Last year, he had engaged in a betting scheme alongside Robert Downey Jr. against Link, believing that with their numbers, victory would come easily. He aimed to teach the upstart a lesson.
In the end, he lost.
He hadn't accepted it.
This year, he rejoined forces with the majors and several independent producers, preparing thoroughly to deliver an unforgettable lesson to Link and Guess Pictures during the summer blockbuster season.
Just as success seemed within reach, the Simpson murder case ignited, causing Se7en's box office to skyrocket.
Disaster!
Now, nearly everyone in the industry knew he had lost to Link twice in a row.
This towering figure in Hollywood had been bested by a young filmmaker with less than three years' experience.
He had considered letting it go, but he couldn't.
Abandoning the fight would forever mark him with the stigma of defeat against Link, a stain he couldn't wash away.
When people reminisce about the former titan of Hollywood, they would mockingly recall how he twice fell to Link.
Michael Ovitz refused to allow such a blemish to mar his illustrious career; he had to definitively defeat Link, reduce him to a total failure, before he could retire content, having left a lasting mark in Hollywood.
To achieve this goal, he was even willing to deprioritize CAA's growth.
"Michael, the Seagram Group has completed its acquisition of Universal Pictures, and they've invited me to be the CEO. I've accepted."
Ron Meyer said.
Michael Ovitz frowned at the news; Ron Meyer had been his right-hand man at CAA. Without him, his control over the board and management would surely decline.
This was unwelcome news.
Then he recalled that Ron Meyer was going to Universal as CEO.
If Ron Meyer was willing to team up against Link, alongside Sherry Lansing from Paramount, Murdoch from Fox, and Barry Diller, the opposition against Guess Pictures would grow stronger.
That was good news.
"Ron, I support your move to Universal Pictures. I hope you find great success there."
Michael Ovitz said graciously.
"Thank you!"
They shook hands.
*****
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