Before 2000, Time Warner was a juggernaut. With a market cap topping $150 billion, it was the world's biggest media conglomerate—worth more than Disney, Viacom, Comcast, and Vivendi combined!
But then the internet wave hit, and it only got bigger. Time Warner's shareholders, swayed by venture capital hype, merged with internet titan AOL.
That move turned the media behemoth into a six-headed monster: AOL, radio, cable TV, publishing, film, and music. For a moment, it was unstoppable.
Then the dot-com bubble burst, and AOL Time Warner started crumbling.
By 2002, they'd racked up a staggering $100 billion in losses!
To stop the bleeding, the joint company had to pivot hard. They sold off Warner Publishing Group, axed 6% of the magazine staff, and even dumped Warner Records—one of the world's top three music labels. But the numbers still wouldn't budge.
By 2009, the shareholders had had enough. They bit the bullet and split from AOL, finally ditching the dead weight. Time Warner bounced back with hits like The Dark Knight and The Hangover, showing signs of reclaiming its glory.
Then tragedy struck again—post-2010, the mobile internet wave rolled in!
Google, Facebook, Twitter, even Netflix—these web giants became the new kings of info-spreading. Time Warner's magazines like Fortune and Time still had clout, but they couldn't touch the internet's speed.
To avoid getting left behind, Time Warner had to team up with another powerhouse. After turning down a $45 billion offer from Comcast, they finally sold to telecom giant AT&T in 2017 for $85.4 billion.
Post-2000 Time Warner? A tear-jerking tale of woe.
Dunn loved playing the savior. While other Hollywood bigwigs might kick Warner while it was down, he wouldn't.
A lean camel's still bigger than a horse. No matter how rough Warner had it, it wasn't in the same league as Columbia, Paramount, or Universal.
Warner Bros. Pictures was hands-down the world's top movie studio!
They owned over 6,000 film copyrights!
Even the ones they directly controlled topped 4,000—an insane number.
Disney? Just over 300. Universal? Around 1,400.
So Dunn stepping in to help Warner now was a no-brainer—maximum payoff for minimum effort.
Barry Meyer, Warner's vice chairman and COO, rolled out the red carpet, inviting Dunn and Michael Ovitz onto his private yacht for a family-style dinner.
Dunn didn't hold back, bringing along his date, Penelope Cruz.
Penelope knew her role—she was Dunn's arm candy. But she didn't mind. Getting face time with a Hollywood titan like Barry Meyer at a gig this big? Worth every second.
She might be young, but she'd been in the game long enough to get how it worked.
Drop your pride in front of the big shots, and you'll shine in front of the fans!
Barry Meyer's yacht was a beaut—over a decade old but still a stunner. By expert standards, anything over 24 meters is a superyacht. This one clocked in at over 50 meters, three stories tall, cutting an imposing figure on the water.
Penelope stepped aboard and couldn't help but gasp, hand over her mouth. "Wow, this boat's incredible—it's like the Titanic!"
Dunn cracked up. "The Titanic? That was a monster—900 feet long!" (Nearly 300 meters.)
"Oh, really?" Penelope's lack of worldly know-how was showing, but she kept gushing. "Still, it's gorgeous. Imagine throwing a party here—how amazing would that be?"
Dunn rolled his eyes, amused.
This Spanish girl was so unpolished—she didn't even try to fake it.
Barry Meyer and his wife came out to greet them. He hadn't expected Dunn to be so brazen, bringing his fling to a formal thing like this.
"Haha, Mr. Meyer, good to see you! Oh, this must be Mrs. Meyer? Your eyes remind me of my mom—so kind." Dunn's smooth talk flowed effortlessly.
Mrs. Meyer beamed. "If only my son were as impressive as you. Oh, and this lovely girl is your girlfr—er, she's stunning!"
Dunn didn't flinch, grinning as he introduced her. "This is Penelope Cruz, a Spanish actress."
Penelope stretched out a delicate hand, all respect. "Hello, Mr. Meyer. So nice to meet you, Mrs. Meyer."
Barry Meyer gave a small smile—good enough for a response. He couldn't care less about this Hollywood starlet, no matter how drop-dead gorgeous she was.
"Michael's already here, right?"
"Heh, yeah. We've hammered out some deal points—just waiting on your take."
Barry Meyer was more pumped about the portfolio investment plan than anyone.
Right now, Warner Bros. chairman Terry Semel was on his way out to Yahoo, leaving Barry Meyer and Alan Horn as the top contenders to take over.
Barry's weak spot? He was the COO, not deep in the movie-making side. If he could nail this "portfolio investment" deal and shore up the film division's foundation, it'd patch that hole. He'd be a shoo-in for chairman and CEO!
That's why Barry was so eager—pulling out all the stops, hosting Dunn and Ovitz on his yacht for a cozy family dinner.
Dunn waved a hand, grinning. "Michael's the chairman and CEO of Legendary Pictures. I trust him with the details!"
Barry Meyer's eyes sparked.
He'd just had a great chat with Michael Ovitz—super smooth. Both sides wanted this deal, so it barely felt like negotiating. More like a friendly powwow where they locked in a bunch of terms.
Barry had figured Ovitz would play good cop, Dunn bad cop. But Dunn? He was even more laid-back and generous than Ovitz!
This could actually work!
Even a seasoned pro like Barry Meyer couldn't hide a flicker of excitement.
"Dunn, don't worry. If this deal goes through, Dunn Pictures will always have Warner's protection!" Barry vowed, all confidence.
Dunn smirked inwardly.
Warner could barely save itself—big talk from a guy who might pull a muscle boasting like that!
"That'd be awesome, heh. But… Mr. Meyer, I've got two little requests. Hope you can say yes to both." Dunn kept it casual, but his tone was rock-solid.
Barry glanced at him. "If I can, you've got it!"
Dunn slung an arm around the beauty next to him, grinning. "Mr. Meyer, Penny's been in Hollywood a few years now but hasn't landed the right break. If we seal this portfolio deal, I'd love for her to star in two of the films—lead roles!"
Penelope's flawless face flushed with joy, her eyes shimmering, locked on Dunn.
She'd thought Dunn brought her along just to look good on his arm.
Guys love parading a hot date at big events, right?
But here he was, name-dropping her in a major deal between Legendary Pictures and Warner Bros.!
Shock and glee—this was unreal!
She'd been seeing Dunn for over a month, and he hadn't promised her a single role. She hadn't complained, sticking by him with warmth and patience. Now, out of nowhere, this bombshell.
Barry Meyer stayed cool. He knew Dunn's rep—tons of flings, but the actresses he'd been linked with always sang his praises. This proved why.
He led Dunn and Penelope toward the yacht's second-floor dining room, with its killer view of the ocean.
Hearing Dunn's request, he paused, finally giving Penelope a proper once-over.
She was rocking a sleek, low-cut black gown—sexy, sultry, oozing Iberian charm. Stunning, captivating—perfect for a trophy role.
Barry smiled. "Ms. Cruz has got the goods. She'd make a great lead!"
"Th-thank you! Thank you!" Penelope stammered, practically vibrating with excitement.
Dunn gave her hand a sneaky little tease, keeping it chill. "Oh, and one of those leads? I'd love it to be in a big commercial flick."
Barry's brow ticked up. After a brief pause, he nodded. "Done!"
Penelope sucked in a breath, legs wobbling from the thrill. She clung to Dunn's arm, practically melting into him.
Dunn was unreal!
A few words, and he'd landed her a lead in a big-budget blockbuster!
Screw Spider-Man or Batman—right now, in Penelope's world, Dunn was her superhero!
Dunn nodded, pleased. "Mr. Meyer, thanks for being cool about it."
Barry locked eyes with him, dead serious. "Once the portfolio deal's locked, Legendary Pictures will be Warner Bros.' top investment partner. Even if we're not making the films, you'll have oversight and input—no question."
Another ironclad promise!
Dunn nodded calmly, keeping his poker face.
Looked like Barry Meyer was dead-set on clinching this thing.
Perfect!
vote and read more inpatreon
belamy20