novelraw Chapter 739 - 740: Coincidence
Chapter 739 - 740: Coincidence
Chapter 739: Chapter 740: Coincidence[Chapter 740: Coincidence]
With a series of positive news, MGM's stock price surged from $10.50 before the summer blockbuster season to $13.70 following the press conference.
After completing the integration of three companies, the new MGM's total share capital reached 365 million shares. When the stock price hit $13.70, MGM's market value successfully surpassed $5 billion. Consequently, the upcoming plan to issue 70 million additional shares was expected to bring in around $1 billion in cash, allowing MGM to completely shed the shadow of debt that had been plaguing it and set off on a path of healthy development.
The stock issuance would be managed by MGM's top executives in the following months. After the press conference, Eric diverted some of his attention towards planning the MGM spy movie universe.
Charlie's Angels and Mission: Impossible had both emerged as popular spy films in the past two years. Although both were adaptations of classic TV shows, the addition of these films into the spy movie universe faced little opposition and instead sparked great anticipation among fans.
However, when Eric suggested incorporating the 007 series into the plan, it sparked some controversy. Most of the criticism focused on the potential dilution of the 007 franchise's brand equity. Media outlets even interviewed past actors who portrayed 007, with the original James Bond actor Sean Connery openly opposing the plan, claiming MGM was acting recklessly.
Eric simply smiled at these voices of dissent.
So far, all the original novels in the 007 series had been adapted into films by 1987, with the exception of one, Casino Royale. Moreover, even those series from before 1987 often bore little relation to Ian Fleming's novels. To maintain a semblance of 'heritage,' the series habitually attached quirkily related titles to Fleming's name, referencing either his pets, vacation home, or quotes from his books.
Ironically, the only film in the 007 series that grossed over $1 billion worldwide, Skyfall, had a title that had absolutely no connection to Fleming whatsoever -- it was actually created by MGM's own writing team.
In Eric's eyes, this tenuous connection was entirely unnecessary. The greatest strength of the 007 franchise lay in the global recognition it had built over decades. As for box office appeal, the previous film, Licence to Kill, only raked in $34 million in North America, demonstrating that the 007 franchise's box office allure wasn't as strong as one might think. If a story wasn't executed well, no amount of fame would convince the audience.
Eric's idea for a spy movie universe had also been influenced by the Daniel Craig version of 007 from the original timeline.
In that timeline, the 007 films around the turn of the century, particularly Casino Royale, had been both critically and commercially successful. While the series often boasted about its 'heritage,' it frequently opted to create a completely new story for each installment, often discarding the recognition accrued by previous characters -- something he viewed as a regrettable waste.
The Daniel Craig version of 007, however, ventured down a different path, which Eric thought was quite serendipitous. After the success of Casino Royale, MGM hurried to initiate the sequel's production, but unfortunately, the process coincided with the Hollywood writers' strike in 2008. This left them unable to gather star screenwriters to craft an entirely new tale.
In their desperation, the production team had to piece together a 'sequel' that directly followed Casino Royale, which was Quantum of Solace. Viewers who hadn't seen Casino Royale would likely struggle to follow the sequel's plot. Thus, it seemed MGM held little hope for the sequel, but surprisingly, this confusing 'sequel' ended up grossing nearly $600 million worldwide, matching its predecessor.
Beginning with Quantum of Solace, it appeared MGM had finally grasped something. They no longer completely abandoned the stories from previous films; they ceased the relentless hunt for a main villain with every installment, and they did away with the forced connections to Ian Fleming's legacy. They began creating an overarching storyline connecting several sequels.
Amidst these changes, the subsequent film, Skyfall, created a pinnacle moment in 007 history with a global box office of $1.1 billion. Later, Spectre, despite receiving poor reviews, still managed to gross nearly $900 million.
Inspired by the Daniel Craig 007 series, Eric planned to eliminate some of the subsequent Pierce Brosnan films like Die Another Day and Tomorrow Never Dies, discarding the tired trope of
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