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Beatdigga
Joined: 26 Oct 2003
Posts: 4515
Location: New York
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Posted: Mon Nov 16, 2020 3:12 pm
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On topic, if Warner is thinking about selling CNN (although they denied plans to do so as recently as last week), then it’s fairly clear there are no real restrictions on what will or won’t be sold. If selling it pairs down their debt, odds are good it will be sold or they will at least attempt to do so, regardless of medium, genre, or history with the company.
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AmpersandsUnited
Joined: 22 Mar 2012
Posts: 633
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Posted: Mon Nov 16, 2020 5:45 pm
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AkumaChef wrote: | This is rarely the case. Even if the CEO makes millions that doesn't go very far when you're talking about thousands of jobs. I have no idea what Kilar is paid but the internet seems to think his net worth is between 1 and 5 million. Let's say he's worth 5 million and he sells every penny to his name, and let's assume that his average employee costs $100k a year for salary + taxes + benefits + overhead, etc. That means he could save 50 jobs for 1 year....yet they're talking about cutting 1500 jobs. Not even close.. |
People also forget that a person's worth is not actual money. Jeff Bezos does not have 183.6 billion dollars sitting in his back account to draw from, that's the worth of his company and asserts, not actual dollar bills he has to spend. Obviously rich CEOs still take home a lot of money, but it's hardly how much people think they have, and even then like you said it's generally not enough to float a company with thousands or even millions of employees for decades or even years. It's a short term solution at best, which in the Nintendo example, was all they needed. They needed to just hold out for a few months until their profits to rise back up and their new games and consoles to take off.
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AkumaChef
Joined: 10 Jan 2019
Posts: 821
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Posted: Mon Nov 16, 2020 6:25 pm
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AmpersandsUnited wrote: |
People also forget that a person's worth is not actual money. Jeff Bezos does not have 183.6 billion dollars sitting in his back account to draw from, that's the worth of his company and asserts, not actual dollar bills he has to spend. |
That's absolutely true. I was deliberately stacking the numbers in Kilar's favor in my example by picking high estimates for him, assuming it was 100% liquid cash, and lowballing the payroll costs and even with that the numbers don't even come close to adding up.
Quote: | Obviously rich CEOs still take home a lot of money, but it's hardly how much people think they have, and even then like you said it's generally not enough to float a company with thousands or even millions of employees for decades or even years. It's a short term solution at best, which in the Nintendo example, was all they needed. They needed to just hold out for a few months until their profits to rise back up and their new games and consoles to take off. |
The Nintendo examples (and there have been a few over the years that I can remember) are a perfect example of symbolic "CEO wage cuts". Japanese CEOs earn far less than American ones do, Iwata probably only earned wages of a couple hundred thousand dollars equivalent a year. His real money came from royalties and stocks--neither of which he gave up. He gave himself a 50% pay cut for a few months to "punish himself" for the poor performance of the company. The few hundred thousand saved (if even that) was likely nothing compared to the massive sales losses the company was suffering. His pay cuts didn't save the company, they just made good leadership & PR while the company weathered the sales slump.
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Lynx Raven Raide
Joined: 01 Nov 2017
Posts: 412
Location: Central Coast, AU
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Posted: Mon Nov 16, 2020 7:36 pm
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DjangoDCCX wrote: | Still think it's a good idea to let AT&T to keep Crunchyroll, forum? |
The issue isnt AT&T keeping CR, but Sony buying it. They could sell it to anyone else, and there probably wouldn't be much of a problem, but its selling it to a place which will make a virtual monopoly that may have repercussions for both fans and the industry
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Kadmos1
Joined: 08 May 2014
Posts: 13590
Location: In Phoenix but has an 85308 ZIP
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Posted: Mon Nov 16, 2020 8:46 pm
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This pales in comparison to the amount of jobs lost related to the Disney-Fox merger: 4000+.
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idkAlan
Joined: 21 May 2013
Posts: 56
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Posted: Mon Nov 16, 2020 11:59 pm
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Lynx Raven Raide wrote: |
DjangoDCCX wrote: | Still think it's a good idea to let AT&T to keep Crunchyroll, forum? |
The issue isnt AT&T keeping CR, but Sony buying it. They could sell it to anyone else, and there probably wouldn't be much of a problem, but its selling it to a place which will make a virtual monopoly that may have repercussions for both fans and the industry |
Last I read Sony refused AT&T's initial price because AT&T inflated CR's value.
So AT&T started to pitch the service to other companies like Amazon, Disney, & Universal, to name a few, but they all generally agreed that CR wasn't worth the asking price.
Since AT&T's main goal is to get rid of it's debt, they pitched a lower price to Sony and Sony agreed.
Crunchyroll being sold to whoever was willing to pay was already going to start a "monopoly", as the 4 major companies that AT&T wanted to sell to already had their foot in the anime game in some way, it's just Sony has a more notable presence.
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Redbeard 101
Oscar the Grouch
Forums Superstar
Joined: 14 Aug 2006
Posts: 16961
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Posted: Wed Nov 18, 2020 2:53 pm
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idkAlan wrote: |
Lynx Raven Raide wrote: | The issue isnt AT&T keeping CR, but Sony buying it. They could sell it to anyone else, and there probably wouldn't be much of a problem, but its selling it to a place which will make a virtual monopoly that may have repercussions for both fans and the industry |
Last I read Sony refused AT&T's initial price because AT&T inflated CR's value.
So AT&T started to pitch the service to other companies like Amazon, Disney, & Universal, to name a few, but they all generally agreed that CR wasn't worth the asking price.
Since AT&T's main goal is to get rid of it's debt, they pitched a lower price to Sony and Sony agreed.
Crunchyroll being sold to whoever was willing to pay was already going to start a "monopoly", as the 4 major companies that AT&T wanted to sell to already had their foot in the anime game in some way, it's just Sony has a more notable presence. |
To expand on that point when AT&T went to other companies offering to sell they had the chance to purchase it. Or to counter the offer for something more reasonable. The other companies had a chance, it's not as if Sony was the ONLY one to get a chance. Others had a chance and they passed. If Sony pulls the trigger on the deal and gets the lion's share of the anime market then that's on the other companies as well for passing.
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