Rebirth of Hong Kong - 1978

Chapter 2351 Looking for the Editor-in-Chief

"The LA Times? Is this company for sale?"

After the setback in the acquisition of Bloomberg, Lin Daoqiu asked people to investigate which large North American media companies could be acquired.

And at this time, the acquisition investigation of "LA Times" was put on Lin Daoqiu's desk.

As one of the top three newspapers in North America along with "NY Times" and "WA Post", "LA Times" does have a high reputation among the people, with a circulation of about 120 million copies on weekdays and 140 million copies on Sundays.

It can be said that if Lin Daoqiu can buy the "LA Times", it is obviously much better than buying Bloomberg.

After all, Bloomberg, a media company, specializes in finance and economics, and is more responsible for financial business. In fact, it does not help Lin Daoqiu much.

Unless he wants to go the way of financial giants Soros and Rogers, in that case, buying Bloomberg will be of great help to Lin Daoqiu.

But if Lin Daoqiu doesn't intend to follow the path of financial predators, then a newspaper like "LA Times" is obviously more suitable for Lin Daoqiu.

"If Mr. Lin intends to enter the media industry, the "LA Times" is obviously more suitable for you than Bloomberg, but... it may not be easy to buy the "LA Times..."

"Why? Is it very expensive to buy this newspaper?"

Hearing Lin Daoqiu's question, Richardson nodded directly.

"The "LA Times" belongs to the Times-Mirror company, and is financially controlled by the Bank of America consortium. They also have inextricable ties with the Morgan consortium. Therefore, if you want to control the entire "LA Times", you must deal with these people .”

Dealing with such a large consortium is enough to cause headaches. Now Richardson tells Lin Daoqiu that if he wants to buy the "LA Times", he must persuade three companies to agree. This is simply too difficult.

"Do you think I'll be able to convince them to sell me the LA Times? I'd say it's highly unlikely."

Lin Daoqiu didn't want to waste his time on these impossible things. If he had to pay a huge price to buy the "LA Times", then Lin Daoqiu would not do it from the beginning.

Richardson also felt that it would be very difficult to persuade the three companies to agree to sell the "LA Times", and their asking price might not be very cheap.

"According to my estimates, if you want to buy the "LA Times", I estimate that it will take at least about $20 billion to get them to nod."

For Lin Daoqiu, money is not a big problem, he can afford the money, but the problem is to persuade the three companies to sell the "LA Times" to him, which makes him feel a bit daunting.

What he disliked the most was being in debt to others, and he didn't even like dealing with these complicated financial groups.

If it can be solved directly with money, Lin Daoqiu will consider buying the "LA Times", but if he has to add it to persuade those people, then his interest will drop a lot.

"Forget it, the "LA Times" transaction is too troublesome, I think it's not worth the gain, and I plan to change it."

"Another way?"

Richardson looked at Lin Daoqiu suspiciously, he couldn't think of any better way Lin Daoqiu thought of.

"It takes a bit of time to do that through acquisitions, mergers, mergers, and forming a large media company, but it's a lot easier than buying a large media company outright."

In fact, Lin Daoqiu just didn't like to ask for favors, and he didn't like to owe favors to others. Fortunately, he had enough funds in his hands. If he did it through the above methods, he didn't know how many times faster than others to start.

Richardson nodded. He also knew that Lin Daoqiu was a person who didn't like trouble. Since he wanted to do this, he should do as he wanted.

After all, I am only responsible for providing ideas. Lin Daoqiu should find a professional person to take charge of the operation of the new media company. He just needs to manage MGM well.

After giving up Bloomberg and the "LA Times", Lin Daoqiu turned his attention to work from scratch.

But starting from scratch does not mean that he really wants to build a new company, and then rely on this new company to make efforts.

Lin Daoqiu's idea is to acquire several small and medium-sized media, and then merge them into a large media. As the company's reputation grows, its influence will gradually expand.

After thinking about this, Lin Daoqiu began to let the people below focus on the small and medium media companies in the North American metropolis.

Soon, more than a dozen small and medium-sized newspapers and magazines came into Lin Daoqiu's field of vision.

Most of the daily sales of these newspapers and magazines range from several thousand to fifty thousand. They may be well-known in the local cities, but not so many people know about them after leaving the local area.

But you must know that it is not so easy for a newspaper or magazine to become famous. Without the financial support of a large consortium, it is impossible for them to get any exclusive news.

If there is no exclusive news, if you can only follow other people's ass to report, then the sales of newspapers and magazines will naturally not be able to increase.

So at this time, Lin Daoqiu adopted money tactics, and in less than a month, he successively acquired seven small and medium-sized newspapers and magazines, and then merged them together.

Because he was too lazy to think about the name, Lin Daoqiu directly split and merged these acquired newspapers and magazines, and established a group called "Readers Times", and Xiangjiang's "Readers Weekly" was also merged into it .

After Lin Daoqiu's "Readers Times" merged, the daily sales reached [-] copies, and the weekly sales reached [-] copies.

But compared with the sales of millions of copies of the big newspapers of "LA Times", Lin Daoqiu's "Reader's Times" is still far behind, and it is difficult to catch the eyes of others.

Especially in the early days of the establishment of "Readers Times", it was basically only sold in big cities. Once it left the big cities, it can be said that there were very few people who had heard of this newspaper.

But for Lin Daoqiu, this is just the beginning. After the acquisition, spin-off and merger, Lin Daoqiu has not yet started to make efforts.

Because the first thing he needs to solve now is to lay the foundation of "Reader Times". After the foundation is laid, he can officially launch his efforts in the United States.

The editor-in-chief of "Readers Times" is the soul of this company and the most important manager of this media.

If the editor-in-chief is not selected well, even if Lin Daoqiu spends more money, he may not be able to make any splashes at that time, so finding the editor-in-chief is a top priority for Lin Daoqiu.

(End of this chapter)