Chapter 648

Mark, they have the most powerful M & a team and powerful media resources. They arrange this matter immediately.

When the board of directors of Time Warner applied to the Securities Regulatory Commission for the filing of equity changes, the lobbyists in Washington immediately moved in the hope of passing the application.

In the 1920s, about 20 million Americans, lured by the post-war prosperous economy, devoted themselves to the stock market and became shareholders of large and small. It is estimated that about $50 billion was invested in the stock market during that period. About half of these funds disappeared after the stock market collapse in 1929.

The collapse of the stock market led to heavy losses for countless investors and banks, and the bank run caused by it led to the disaster of the banking industry, and finally led to the great depression in 1929.

In order to restore the economy, Congress believes that it is necessary to restore national confidence in the capital market. Congress held a hearing to study solutions, and passed the Securities Act of 1933 and the Securities Exchange Act of 1934 according to the conclusions of the hearing.

If we want to effectively regulate the securities market and protect the interests of investors according to the law, we need a highly coordinated securities regulatory team. Therefore, Congress established the U.S. Securities and Exchange Commission in 1934.

The task of the CSRC is to protect investors, maintain a fair, orderly and efficient securities market, and assist the inflow of family capital and state capital into the capital operation market.

The SFC has about 3100 employees. Headquartered in Washington, D.C., it has branches in 11 other regions

, it has five members. The five members are appointed by the president personally with the proposal and permission of the Senate for a term of five years, but the terms of office of the five members are staggered by one year, that is, one member is replaced every year, and one of the members will be appointed by the president as the chairman of the Securities Regulatory Commission as the supreme executive officer of the Securities Regulatory Commission.

To put it bluntly, they are an organization specialized in dealing with outlaws such as Martin Davis. They can't mess around with their eyes. It's not easy to mess with the antitrust bureau of the Ministry of justice and the Federal Trade Commission, which are responsible for antitrust.

They are two federal agencies that implement the antitrust law of the United States in parallel, and they enjoy high authority in the implementation of the antitrust law.

However, the United States implements the judicial model, that is, in antitrust cases, they file criminal or civil proceedings as prosecutors in the federal court, and then the court makes criminal or civil judgments. That's why Richard suggested opening the court first.

In case of jurisdictional conflict between the two parties, tasks are usually assigned according to whether the two parties have more experience in the investigation of a specific industry or a specific restrictive competition behavior. In general, the antitrust authority deals with competition in the computer software, financial services, media and entertainment and telecommunications markets, and the Commission deals with competition in the fields of automobile, computer hardware, energy, medical treatment, pharmaceutical manufacturing and biotechnology.

In order to improve the legal stability and the predictability of the legal consequences of the parties' acts, the two sides have jointly issued a large number of antitrust guidelines since the late 1990s. These guidelines not only provide a framework for enterprises to analyze certain restrictive acts so that they can correctly evaluate their business means, but also provide analytical standards for antitrust authorities and commissions so that they can unify law enforcement standards and avoid different legal consequences of certain restrictive acts due to different law enforcement agencies.

This also prompted the emergence of legal monopoly companies. Like the four major media groups, the monopoly nature is very obvious, but they clearly avoided the minefields of the antitrust bureau and the Federal Trade Commission.

The interference of competitors was expected. Mark and his team immediately countered. On the one hand, they pleaded not guilty to the Federal Trade Commission, and on the other hand, they filed a lawsuit in the federal court of New York state to judge the antitrust bureau of the Department of justice for abuse of power.

The acquisition of Time Warner's equity by Wang's family fund is regarded as an imperialist expansion of multinational companies. Both mm and Time Warner deal with the matter in a low-key manner. There is no press conference or grand publicity ceremony. They just issued a short statement as if it was a trivial matter.

Will it be a small matter for other countries to merge the most powerful country in the world with the most populous China?

News Corporation, Viacom, Disney and universal's General Motors Group immediately formed an anti film and television trust alliance in the hope that the Federal Trade Commission would reject their application and stop the transaction.

In fact, it is a thief shouting to catch a thief. For other film companies, are they not monopoly companies? If others hurt their interests, immediately hold high the banner of antitrust, attack their opponents and protect themselves.

Mm and Warner don't publicize. They come from powder publicity. They report the whole story. How terrible the merged mm and time warner are. They will form the world's largest film production, publicity and distribution library; The market share has reached an amazing 30%. This is not a monopoly. What is a monopoly? After Mark said no, the whole Hollywood trembled. This is an unprecedented media trust, and it is controlled by a family. What a terrible thing?

The strength of these counterparts is considerable. They unite to resist. Even the antitrust bureau of the Ministry of justice and the Federal Trade Commission dare not despise it. According to past practice, they refer the matter to the antitrust bureau and enter the investigation procedure.

However, it is embarrassing that the investigation of the antitrust bureau of the Ministry of justice has just begun, and there is no substantive conclusion. The federal court of New York has ruled that the Wang family foundation is not a monopoly organization. Their acquisition of 10% equity of Time Warner is also within the framework of the Federal antitrust law.

For this! David Wang, chairman of the Wang family foundation, welcomed this and pointed out that this is only a normal and reasonable investment. The Wang family foundation will not seek more than 30% equity. Moreover, they are charitable organizations with the main purpose of making profits and doing good. Their slogan is to make more money and help more people, rather than seeking media hegemony.

The Foundation donated a total of US $75 million to more than 20 institutions and individuals. These targeted donations have benefited and praised some people in the federal court of New York.

For example, the daughter of the state Lord Chancellor works at New York University, but their institute is facing dissolution due to insufficient funds. At this time, a timely donation appeared, allowing the Institute to tide over the crisis.

Another example is that the wife of a judge is a well-known socialite and philanthropist. She has her own charity foundation. Unfortunately, she has been trapped in funds. Now she cooperates with a large foundation, and the problem of funds will be solved immediately.

The highest level of bribery is that you know there is something fishy and can't catch anything.

For those who dare to take money, they also dare to give it, but after a few hands, they can't find their heads. In order to achieve their goal, they dare to spend money and throw money, which makes them seize the opportunity everywhere.

They are honest and willing to divide the benefits. Of course, these politicians know what to do. This is different from the anti mm Warner alliance. These people talk big and make small money. The key moment is to cover their money bags and refuse to share some benefits to others.

Who knows that the dispute between them is a continuation of business competition and a dispute of interests at another level. You need to go online, package yourself as a moral emperor, Saint Mu bitch, and criticize others on the high ground of morality. You are a good man and others are villains.

Being an official for thousands of miles is only for money. We all know that the rich is the boss. If you don't have money, you won't fart. The slogan of the anti mm Time Warner alliance is resounding. However, when it comes to taking money for public relations, it is mutual shirking. There are many excuses. Without money, all public relations will have no persuasion and effect.

Like mark, they hit the Oscar. The core of the so-called public relations is gift giving.

It's not strange to be polite! Over the past two years, the fees that film makers have given to Oscar judges in various disguised acts have snowballed, so that the media have constantly pointed to Oscar black box operation. The New York Times said that Miramax, famous for her willingness to spend money to build momentum, spent a lot more money to canvass for the film.

When Rick Robertson, senior executive member of the Oscar organizing committee, announced that he would severely punish film producers who offered bribes in disguise, his tone was still full of nostalgia for the past: "Producers will send exquisite film brochures, and Film videos are packed in expensive wooden boxes. Once, I even received a unique popcorn package from a film company, which contains a walkman with songs nominated for the best music award."

Mm company sends Pingguo mobile phone, which stores songs nominated for the best music award.

Although gift giving has been banned, as long as you have money, you can still find gray areas, such as banquets, parties, etc.

Friends of wine and meat are easy to handle. The famous writer of Hollywood newsletter wrote: "during this Oscar season, there are a variety of luxurious banquets in Los Angeles." in the mixed emotional contact activities, "some transactions can be completed."

In addition, after the annual award ceremony, the judges will get a big red envelope. It is said that there are 100000 dollars this year. Who knows who gave the money!

Therefore, Dewey, executive chairman of the Wang family fund, is active between Washington and New York. He sends us dollars and gifts, and has a variety of resources. With such investment, they are naturally confident. Unlike some alliances, their lobbyists have only one mouth and two handfuls of bananas. Who will bird you.

As a result, after the New York State District Court ruled that the investment of 10% equity of Time Warner by Wang's family fund was not a monopoly, the CSRC also agreed to their application and approved the transaction.

Finally, we can only go to the antitrust bureau of the Ministry of justice.