I am Hollywood

Chapter 23: Crazy or Foolish



[Chapter 23: Crazy or Foolish]

Sitting nearby, Jeffrey Hansen felt that he should step in to negotiate, but before he could say anything, Eric had already spoken up: "Sorry, Mr. Blount, but I'm not planning to sell Home Alone outright; let's discuss a profit-sharing agreement instead."

Cohen Blount furrowed his brow in displeasure and replied, "Eric, if we're talking about profit-sharing, I can only offer you eighteen percent."

"Mr. Blount, didn't you just say twenty percent?" Jeffrey interjected.

Cohen Blount responded nonchalantly, "What I just mentioned was under normal circumstances. If we were to distribute Home Alone, the promotional costs would far exceed the production costs. Eighteen percent is already quite reasonable."

Jeffrey was about to argue, but Eric cut him off, sensing his friend"s impulsiveness: "Alright, Mr. Blount, but I have another proposal. How about we sign a wager agreement instead?" Although wager agreements were common in the film industry, Cohen Blount couldn't help but scoff inwardly, thinking, what kind of leverage did this kid have to negotiate with Columbia? However, he signaled for Eric to continue, curious to hear what terms this young man could propose.

Eric, seemingly oblivious to the derisive look on Cohen Blount's face, smiled and said, "A fifty million dollar floor; under the condition that Columbia guarantees promotional effort and theater slots. If Home Alone's box office falls below fifty million dollars, I will transfer all rights of Home Alone to Columbia Pictures for free."

After these words, even the seasoned Cohen Blount felt a twinge of emotion. Their projections for Home Alone's box office were around fifty million dollars. If they signed the wager agreement, it would be a simple task to keep the movie's earnings below that number with a little maneuvering. While Cohen Blount considered Eric foolish, he couldn't help but admire the young man's boldness.

Suddenly, Jeffrey Hansen jumped to his feet, incredulous as he spoke to Eric in grave tones, "Eric, are you out of your mind?"

Eric stood up and patted Jeffrey on the shoulder, signaling him to sit down. He continued, "If the box office falls between fifty million and one hundred million, I want twenty percent; and if it exceeds one hundred million, I get an additional one percent for every ten million over that."

After Eric finished, he remained quiet, calmly sipping coffee. Meanwhile, Jeffrey Hansen anxiously darted his eyes back and forth between the two, worried that Cohen Blount would agree to this outrageous deal, leaving their ten million dollar buyout fee in the dust. Ten million dollars! How many people went their entire lives without seeing that much money? Regrettably, Cohen Blount proved to be a hesitant decision-maker, taking a full five minutes before finally saying, "Eric, I need to discuss this with the team. I'll get back to you tomorrow, okay?"

Eric nodded and simply stood up to bid farewell to Cohen Blount.

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In the parking lot, Jeffrey didn't retrieve his own car but climbed into the passenger seat of Eric's.

"Eric, you really were too impulsive. Ten million dollars just like that! Look at how comedy films have done reasonably well over the years, but dark horses are few and far between. Let's just go for a buyout agreement tomorrow. We could negotiate a better price. Trust me on this; sometimes people only get one or two opportunities in life. Miss one, and it may never come again. With ten million dollars, you could continue making movies and do so much more." However, Eric was lost in the exhilaration of digging a pit for Columbia Pictures, his adrenaline pumping. He was convinced that the box office for Home Alone, which had even gotten into the Guinness records, would do just fine replicating its past success. He outright refused to believe that Columbia's old-school distribution abilities would fall short of history, so initially, he hadn't even considered how to leverage his position for the most benefit.

In a standard profit-sharing negotiation, his low-budget film would probably net him a maximum of twenty percent. When Cohen Blount had been stingy enough to drop it to eighteen percent, a light bulb had gone off in Eric's head, reminding him of how he could make the profit share variable - with a wager.

In the film industry, wager agreements on box office figures were rather standard. Usually, they represented a win-win for both parties, allowing them to hedge their risks while maximizing their benefits.

If they projected Home Alone's final North American box office at 280 million dollars like last time, signing the wager would mean Eric could secure thirty-eight percent instead of the thirty-five percent that might go to more established producers. Judging by Cohen Blount's reaction to his proposal, it seemed likely Columbia Pictures was leaning towards falling into the trap.

"Hey, Eric, I've said so much. Are you actually listening to me?" Jeffrey Hansen realized he was drying out from his own words while Eric sat lost in thought. A couple of light taps on Eric's shoulder finally got his attention.

"Alright, Jeffrey, I know your intentions are good, but think about it. Just months ago, I had nothing. What have I got to lose? Let me share something with you -- I've got a gut feeling that Home Alone's box office could potentially break two hundred million. Can you imagine how much I'd make with that wager agreement?"

Jeffrey looked at Eric as if he were a delusional patient.

Unfazed, Eric laughed, "Jeffrey, can you have a little faith in me? If this really works out, as the nominal producer, I'll definitely give you a generous cut. You could buy back Firefly Films from the bank, so why not help me out a little?"

Jeffrey had dreamed of reclaiming the company he had built with his wife, yet he didn't take Eric's words seriously. Realizing that he wouldn't be able to change Eric's mind no matter how hard he tried, he asked, "Alright, Eric. What do you need me to do?"

"Help me reach out to a law firm and an accounting office. Once Columbia accepts my proposal, I'll need someone to oversee and audit the execution of the agreement. If a dispute arises, I'll also need someone to handle the litigation."

Jeffrey replied, "That all sounds doable, but Eric, do you still have any cash? Even hiring two teams like that would cost a fortune."

"Of course I do," Eric said, popping open the glove compartment and pulling out a copy of the Jurassic Park novel. "I'm using the future royalties and film rights to Jurassic Park as collateral. Given its current sales, that could easily account for a million dollars. If the wager flops, they can take Jurassic Park on as payment; I'm sure those firms wouldn't refuse."

"Eric, you really are... out of your mind!"

"Every great genius carries a bit of madness to them."

Jeffrey threw his hands up, "Fine. You're not just crazy; you're cocky. Not even Aristotle could

put a stop to you."

"Aristotle is too busy. That line was actually from Stendhal."

...

Jeffrey eventually agreed to help contact the firms, while back in Columbia Pictures' conference room, several executives were discussing the wager terms Eric had proposed. "Alright, that basically sums it up. Let's hear everyone's thoughts," Cohen Blount recapped Eric's wager conditions, looking at the executives seated down the table, waiting for their

input.

After Cohen Blount finished speaking, most of the high-level executives in the room expressed disbelief. Should they label the boy as crazy or foolish?

Finally, Lester Reed from the distribution department chimed in first: "Mr. Blount, this is a great opportunity; let's go for it. According to our estimates, the highest box office potential for this movie is about fifty million. After signing the wager, it's easy to manipulate the

earnings to stay under fifty million, and we wouldn't even have to pay that ten-million-

dollar buyout fee."

After Lester Reed spoke, others echoed their agreement.

*****

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