The Battle for Paramount Pictures | Under Siege | 3
发布时间 2022-08-17 15:01:00 来源
摘要
It’s the fall of 1993 and Viacom owner Sumner Redstone thinks he’s got Paramount all sown up.But QVC chief Barry Diller is about to launch a counter-strike and ignite an all-out war for control of the movie and publishing giant.And as the fight intensifies, both men are depending on their partners to have their back. But they’re about to find their back-up isn’t as solid as they think.Binge all episodes early and ad-free with Wondery+. Join Wondery+ for exclusives, binges, early access, and ad free listening. Available in the Wondery App https://wondery.app.link/businesswars.Support us by supporting our sponsor!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
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Hey, prime members, you can listen to Business Wars ad-free on Amazon Music. Download the app today. Join Wondery Plus and Apple podcasts or the Wondery app to binge all four episodes of the Battle for Paramount early and ad-free. Download the Wondery app in your Apple or Google Play mobile app store today.
嘿，Prime会员，你们可以在Amazon音乐上免费收听Business Wars节目。今天就下载该应用程序。加入Wondery Plus会员，或者在Wondery应用程序或Apple播客上免费收听Battle for Paramount四集连播。立即通过你的Apple或Google Play手机应用商店下载Wondery应用程序。
Monday, September 20, 1993, the Waldorf Astoria Manhattan. In his hotel suite, QVC boss Barry Diller squints at his Apple laptop in Frowns. Yet another typo. He corrects the error and rereads the letter. The letter that will announce QVC's hostile bid for Paramount. A bid he hopes will scuddle Viacom's plan to merge with a Hollywood giant.
1993年9月20日，位于曼哈顿的华尔道夫·阿斯托里亚酒店。在他的酒店套房里，QVC老板巴里·迪勒皱眉看着他的苹果笔记本电脑。另一个错字。他纠正了错误，重新阅读了那封信。那封信将宣布QVC对派拉蒙的敌对收购。他希望这个出价将破坏维亚康姆与一家好莱坞巨头合并的计划。
Diller stretches in his chair. Any final comments, Herb? Herb Allen piers over Diller's shoulder. He's the founder of the Investment Bank Allenant company. He's also gunning to stop Viacom owner Sumner Redstone from buying Paramount. Three years ago, Allen started the first merger talks between Redstone and Paramount Chairman Martin Davis. He hoped those talks would earn his bank more than $20 million in fees. But the talks floundered until a rival investment banker persuaded Davis and Redstone to restart talks and Allen got left out of the deal. So he's getting payback by helping Diller assemble a rival bid for Paramount.
迪勒在椅子上伸着身体。有什么最后的评论吗，赫伯特？赫伯特·阿伦俯视着迪勒的肩膀。他是投资银行Allenant公司的创始人。他还在竭力阻止维亚康姆的老板萨姆纳·雷德斯通收购派拉蒙公司。三年前，阿伦启动了雷德斯通和派拉蒙董事长马丁·戴维斯之间的首轮合并谈判。他希望这些谈判能为他的银行赚取超过2000万美元的费用。但是这些谈判陷入了困境，直到一位竞争的投资银行家说服了戴维斯和雷德斯通重新开始谈判，而阿伦则被排除在协议之外。因此，他正在帮助迪勒组建竞争性收购派拉蒙的报价以报复。
They've spent a frantic weekend pulling the money together. Comcast agreed to kick in half a billion. John Malone's boss of cable giant TCI matched that. Now they're ready to strike. Allen checks the letter. Looks good. Sumner will frequently seize it. Probably. How much higher is our bid? Allen does the math. Both Viacom and QVC's rival offers for Paramount or a mix of cash up front and stock. And since stock prices change constantly, so too does the total value of their competing bid.
他们度过了一个忙碌的周末凑齐资金。康卡斯特同意投入五亿美元。约翰·马龙作为有线巨头TCI的老板匹配了这笔款项。现在他们已经准备好行动了。艾伦检查了信件。看起来不错。萨姆纳会经常抓住它。很可能。我们的出价高多少？艾伦进行了计算。维亚康姆和QVC对派拉蒙的竞标或前期现金和股票的混合。由于股票价格不断变化，它们的竞争出价的总价值也在变化。
Viacom stock price is down, so their offers worth about $7.5 billion right now. So we're 2 billion higher? Good. How will Sumner respond? My guess? With all out war. His tactic will be to question whether QVC's got the cash to buy Paramount. Redstone's deal with Davis stops Paramount considering rival offers that haven't secured all the funding they need.
维亚康姆的股价下跌，所以他们现在的报价大约值750亿美元。那么我们比他们高20亿美元？ 非常好。萨姆纳会如何回应呢？我的猜测？将会引发全面战争。他的策略将是质疑QVC是否有现金来购买派拉蒙。雷德斯通与戴维斯的交易阻止了派拉蒙考虑那些未获得所需资金的竞争性报价。
Diller furrows his brow. We still need another 1.6 billion in cash. Don't worry, Wall Street will throw money at any deal this big. I suppose I should call him. Yeah, you should. Diller calls Paramount Chairman Martin Davis. Yes. Martin, it's Perry Diller. I'm sending you a letter. It's an offer for Paramount $9.4 billion. That's $80.40 per share of which $30 is cash. There's no reply. Diller presses his former boss for a response. Well, I'll look at your letter and get back to you.
Diller皱起了眉头。我们还需要16亿现金。别担心，华尔街会向任何这么大的交易投钱的。我想我应该打电话给他。对，你应该的。Diller给派拉蒙主席马丁·戴维斯打电话。是的。马丁，我是佩里·迪勒。我给你发了一封信。这是对派拉蒙94亿美元的报价。其中每股80.40美元，30美元是现金。没有回复。Diller要求他的前老板回复。嗯，我会看看你的信，然后回复你的。
Diller expected more fireworks. It doesn't matter. They'll be plenty to come. After all, he's about to stick it to the guy who forced him out of Paramount back in 1984. The Cold War between Diller and Davis just turned hot. But only one of them can prevail. And the only thing that's certain is that neither of them will go down without one hell of a fight.
迪勒（Diller）原本预计会有更多的火药味。没关系，接下来还会有很多。毕竟，他即将向那个在1984年迫使他离开派拉蒙的人报复。迪勒和戴维斯之间的冷战已经变得炽热起来。但只有其中一个人能获胜。唯一确定的是，他们俩都不会放弃，必将进行一场非常惨烈的斗争。
Hi, I'm Sarah Haggi, co-host of Wonderree's podcast, Scample Insers. In our recent two-part series, Three Weddings and a Funeral, we dive into the story of a German con man who built an entire life on fake names, lies, and schemes, and the unlikely true-kind twist that brought this decades-long charade crashing down. Listen to Scample Insers on Amazon Music or wherever you get your podcasts.
嗨，我是Sarah Haggi，Wonderree播客《Scample Insers》的共同主持人。在我们最近的两部分系列中，《三个婚礼和一个葬礼》中，我们深入了解一个德国骗子的故事，他以虚假身份，谎言和计划建立了整个生命，并带来了一个不太可能的真实性质的扭曲，使这个持续数十年的骗局一落千丈。在Amazon Music或你任何得到播客的地方收听Scample Insers。
From Wonderree, I'm David Brown and this is Business Wars. On the last episode, Hollywood hot shot Barry Diller joined QVC as part of a grand plan to buy his old studio Paramount. T.C. I boss John Malone entered secret merger talks with phone giant Bell Atlantic and Viacom owner Sumner Redstone, convinced Martin Davis to sell Paramount to him. But now, QVC chief Barry Diller is out to snatch Paramount from Redstone's grasp. But Redstone's about to call for backup.
来自Wonderree，我是David Brown，这里是商业大战节目。在上一集中，好莱坞大佬Barry Diller加入了QVC，作为收购他之前工作室派拉蒙的宏伟计划的一部分。T.C. I老板John Malone进行了秘密的合并谈判，与电话巨头贝尔大西洋和维亚康姆所有者Sumner Redstone合作，说服Martin Davis将派拉蒙卖给他。但现在，QVC首席执行官Barry Diller正试图从Redstone的手中夺取派拉蒙。但是，Redstone正在呼叫后援。
This is Episode 3 under siege. Monday, September 20, 1993, three hours after QVC announced its bid for Paramount, Fort Lauderdale, Florida. In the downtown headquarters of Blockbuster Video, Chairman Wayne Heisinga looks up from his desk. Blockbuster president Steve Barard just entered his office, and he looks anxious. What's up Steve? QVC put in a bid for Paramount. Yeah, I heard. And? And nothing.
这是《围城》的第三集。1993年9月20日星期一，QVC宣布了对派拉蒙的出价，三小时后，在佛罗里达州劳德代尔堡市区的Blockbuster Video总部，董事长韦恩·海辛加从办公桌上抬起头来。Blockbuster总裁史蒂夫·巴拉德刚走进他的办公室，他看起来很焦虑。史蒂夫怎么了？QVC对派拉蒙提出了出价。是的，我听说过了。然后呢？没什么。
Like I said Friday, Paramount's too big, too risky. We can't afford it. Barard looks at his feet. Both he and Heisinga believe Blockbuster needs to prepare itself for the future now. A wave of new technology is closing in fast. And it'll allow people to watch movies on demand without ever leaving their sofa. And when that wave hits, Blockbuster's video rental stores will face extinction. To survive, Blockbuster wants to own a Hollywood studio like Paramount. That way, no matter how movies reach people's homes in the future, Blockbuster will be part of that future.
就像我上周五说的一样，派拉蒙太大了，太冒险了。我们负担不起。巴拉德低头看着脚。他和海辛加都认为Blockbuster现在需要为未来做好准备。一波新技术正在迅速逼近。这将使人们可以在从未离开家的情况下随需观看电影。当这波浪潮到来时，Blockbuster的视频租赁店将面临灭绝。为了生存，Blockbuster希望拥有一个像派拉蒙这样的好莱坞电影制片厂。这样，无论电影以后如何到达人们家中，Blockbuster都将成为未来的一部分。
But the price is daunting. Barard looks back up. What if we allied ourselves with a phone company? They're swimming in money. Heisinga isn't persuaded. America's regional phone monopolies are rich, but they're also slow and bureaucratic.
但价格太高让人望而却步。Barard再次抬头看着Heisinga说: 如果我们和一家手机公司联合呢？他们有很多钱。但Heisinga并不认同。美国的区域电话垄断公司虽然很富有，但它们也很慢和官僚。
But before Heisinga can reply, his private line rings. Only a select few know that number. And that means this call is important. Hold that thought. Heisinga here.
但是在海辛加回复之前，他的私人电话响了。只有少数人知道那个号码，这意味着这通电话很重要。稍等一下。我是海辛加。
Joining Biocom's bid would be a low-risk way for Blockbuster to buy into Hollywood. Heisinga leans toward the phone.
加入Biocom投标将是Blockbuster投资好莱坞的低风险方式。海星加紧观察电话。
Tempting, but maybe there's a better option. Heisinga flicks through his roletex and finds Barry Dillard's number.
诱人，但也许有更好的选择。海辛加翻阅他的名片夹，找到了巴里迪拉德的电话号码。
Dillard's hasty rejection of Blockbuster has handed Redstone a potent new ally in the battle for Paramount.
迪拉德的匆忙拒绝给了雷德斯通在争夺派拉蒙特控股方面一个强有力的新盟友。
September 21, 1993. 24 hours after QVC announced its bid for Paramount. Biocom headquarters, Times Square, New York.
1993年9月21日，即QVC宣布竞购派拉蒙公司的24小时后，在纽约时代广场的生物公司总部。
Biocom owner Sumner Redstone enters the Pat Conference room and pads towards his chair at the head of the table. As Redstone sits down, the executives in charge of Biocom's cable TV networks fall silent.
生物技术公司的所有者萨姆纳·雷德斯通进入帕特会议室，慢慢走向他在会议桌前面的椅子。当雷德斯通坐下时，负责生物技术公司有线电视网络的高管们静静地听着。
The executives exchange glances, mentally drawing straws for a who'll speak first. Eventually, one breaks the silence.
高管们交换了一下眼神，心里默默地抽签决定谁可以先发言。最终，有一个人打破了沉默。
Redstone turns to Tony Cox, the boss of the Showtime Network.
Redstone 转向 Showtime Network 的老板 Tony Cox。
Redstone scales. This is about our future. Your Biocom's top executives. You run MTV, VH1 Nickelodeon, and yet here you are, cowering before this bully.
这是关乎我们未来的事情，你们BioCom的高管们。你们经营着MTV，VH1和Nickelodeon，但在这个恃强凌弱的人面前却畏缩不前。这里涉及到Redstone权力的问题。
Redstone keeps raging. Don't you guys get it? Your company's future. Your life is at stake.
红石不断激怒啊，你们难道就不明白吗？你们公司的未来，你们的生命都危在旦夕。
The executives say nothing. They've never seen Redstone so....rile. There's no point arguing. His mind is made up. This lawsuit's happening.
高管们什么也不说。他们从没见过 Redstone 急得如此欲言又止。争论已经毫无意义了。他已经下定决心，这起诉讼必定会发生。
Wednesday, September 22, 1993. Two days after QVC announced its bid for Paramount, Midtown Manhattan. In the New York Hilton, the cable industry's biggest hitters are gathered for the Walter Cates Foundation's annual fundraising dinner.
1993年9月22日星期三，在QVC宣布收购派拉蒙两天后，位于曼哈顿中城的纽约希尔顿酒店，有线行业的最重要人物齐聚一堂参加沃尔特·凯茨基金会的年度筹款晚宴。
But the real attraction is Barry Diller and he's putting on a performance worth billions. He's wearing a tux and he's holding cord at QVC's table. There's a stream of Wall Street financiers groveling. Almost on cue. Another investment banker crouches at his side.
但真正的吸引力在于Barry Diller，他正在表演，价值数十亿美元。他穿着燕尾服，手握QVC的把手。有一群华尔街金融家屈膝前来。几乎是一声令下的事情。另一个投资银行家蹲在他身边。
Barry, I know you're going to win this battle. Have you considered which banks you're going to work with? I just want you to know we're ready to help.
巴里，我知道你会赢得这场战斗。你有没有考虑过要跟哪些银行合作呢？我只是想让你知道，我们已经准备好提供帮助了。
Dillard smiles and says nothing. He's not here to make deals. He's here to show the cable industry that bankers will crawl over burning coals to give him the financial power he needs to buy Paramount.
迪拉德微笑着，却没有说什么。他来这里不是为了谈判，而是展示银行家会穿过炽热的炭火给他提供财务力量，帮助他购买派拉蒙公司。
And that's because Redstone's latest line of attack is to claim the QVC can't afford its $9.9 billion bid. Diller wants to debunk that claim quickly. Under its deal with Viacom, Paramount can't consider rival offers that lack the necessary funding. And Paramount boss, Martin Davis, is using that as a reason to ignore QVC's offer.
这是因为Redstone最新的攻击方式是声称QVC负担不起其99亿美元的出价。Diller希望尽快驳斥这一说法。根据其与Viacom的协议，帕拉蒙特不能考虑缺乏必要资金的竞争性报价。而帕拉蒙特的老板Martin Davis正在以此为理由忽视QVC的报价。
So Diller wants to show everyone that money's no problem, especially the people sitting at Viacom's table. The investment banker kneeling by Diller's side pulls a business card from his pocket.
所以Diller想向所有人展示钱不是问题，特别是坐在维亚康姆公司桌子旁的人们。跪在Diller身边的投资银行家从口袋里拿出了一张名片。
I guess you're busy. Look here's my card. Call me, alright? I can get QVC preferential rates.
我想你很忙吧。瞧，这是我的名片。打电话给我，好吗？我可以拿到QVC的优惠价格。
That gets Diller's attention. How preferential? I'm after $1.6 billion. Ballpark? I think we get a range that for a fee of as low as $22 million. Diller slips the banker's business card into the pocket of his tuxedo. I'll let you know.
这引起了迪勒的注意。多么有优惠啊？我想要16亿美元，大约需要22百万美元的费用。迪勒将银行家的名片放入他晚礼服的口袋里。我会告诉你的。
The banker turns to see his rivals lined up behind him. Day two want to share in the spoils from the multi-billion dollar war for Paramount. Not that Diller's going to join hands with any of them this evening.
银行家转身看到他的竞争对手们排在他身后。第二天，他们想要分享来自对Paramount的数十亿美元战争的战利品。不过Diller今晚不会与他们任何一人携手。
He's too busy making sure that tonight's show of strength will make it impossible for Paramount's board to keep ignoring QVC. But he also knows that just five blocks north, his old foe Paramount chairman, Martin Davis, will be busy working on a plan designed to stop QVC from tanking his deal with Viacom.
他太忙了，要确保今晚的力量展示会让派拉蒙董事会无法忽视QVC。但他也知道，只有五个街区以北，他的老对手派拉蒙董事长马丁·戴维斯会忙于制定计划，以阻止QVC破坏他与维亚康姆的交易。
It's the fall of 2017 in Rancho Tejama, California. A man and his wife are driving to a doctor's appointment when another car crashes into them, sending them flying off the road. Disoriented, they stumble out of the car only to hear dozens of gunshots whizzing past them.
现在是2017年秋天，地点在加利福尼亚州的Rancho Tejama。一对夫妻在前往医生约定的时间时，另一辆车与他们相撞，使他们飞出了路面。他们感到头晕目眩，摇摇晃晃地走出车外，却听到数十声枪响从旁边飞过。
This is just one chapter of a much larger nightmare unraveling in their small town. This is actually happening, presents a special limited series called Point Blank, shedding a light on the forgotten spree killings of Rancho Tejama, where alone gunmen devastated a small town, attacking eight different locations in the span of only 25 minutes.
这只是他们小镇中更大的噩梦中的一个章节。这是真实发生的，呈现了一系列特别有限的节目，名为《毫不留情》，揭示了Rancho Tejama遗忘的连续杀人事件，孤独的枪手在短短25分钟内袭击了8个不同的地点，摧毁了整个小镇。
The series follows five stories of people connected to the incident, from a father that drew the gunmen away from a local school to the sister of the shooter. These are riveting stories that will stick with you long after you listen. Follow this is actually happening wherever you listen to podcasts.
这个系列故事跟随五位与事件有所联系的人，包括一位父亲曾将枪手引开从而拯救当地的学校，以及枪手的妹妹。这些让人震撼的故事将在你听完后长久留在你脑海里。不管在哪里听播客，都可以跟进这个正在发生的事件。
You can listen ad-free on the Amazon Music or Wondery app.
你可以在亚马逊音乐或Wondery应用上无广告地收听。
September 27, 1993. In Paramount's boardroom, Chairman Martin Davis tries to keep his cool, as another board member questions his call for them to ignore QVC's hostile offer. He is, ah, what is that noise? The lawyers say Barry Diller's letter asserting that QVC can get the finance, his evidence enough. Why delay talks?
1993年9月27日，在派拉蒙公司的会议室里，主席马丁·戴维斯试图保持冷静，但另一名董事对他呼吁忽略QVC公司的敌意报价提出质疑。这时，他耳边响起了什么声音？律师们称巴里·迪勒尔的信中断言QVC公司可以获得融资，这足以作为证据。为什么要延迟谈判呢？
Davis doesn't like this. Normally Paramount's board does his bidding, but the battle for Paramounts become a media circus, and the board members are spooked. They're hearing that if they don't respond correctly to QVC's bid, they can face stock colder lawsuits and federal investigations, but Davis wants to dodge talks with QVC for as long as possible.
戴维斯不喜欢这个。通常，派拉蒙的董事会会服从他的命令，但是派拉蒙公司的争夺战变成了一个媒体马戏团，董事会成员感到害怕。他们听说如果他们不正确地回应QVC的出价，他们可能会面临股票冷藏诉讼和联邦调查，但是戴维斯希望尽可能避免与QVC谈判。
QVC is outbid Viacom by $2 billion. Unless Viacom eliminates that gap with a revised offer, Barry Diller will win Paramount. But Viacom owner Sumner Redstone needs time to secure additional funds. Some Davis can get him, provided he can get Paramount's board to behave.
QVC有一个20亿美元的高出维亚康姆的报价。除非维亚康姆拿出一个修订的报价来消除这个差距，否则Barry Diller将赢得帕拉蒙影业。但是维亚康姆的老板Sumner Redstone需要时间来获得更多的资金。一些人可以帮他，只要他能让帕拉蒙的董事会听从。
Davis decides to pray on the board's fear of legal reprisals. Look, normally I'd say yes, let's accept our legal advice and talk to QVC, but context matters. QVC is trying to disrupt our deal with Viacom, a carefully selected merger partner. Also Sumner Redstone is a litigious man, he'd almost certainly lose in court, but that doesn't mean he won't try suing. Davis takes a sip of water and continues.
戴维斯决定利用董事会对法律报复的恐惧来祈祷。看，通常我会说是的，让我们接受我们的法律建议并与 QVC 谈判，但背景是很重要的。QVC 正试图破坏我们与仔细选择的合并伙伴维亚康姆的交易。此外，萨姆纳·雷德斯通是一个好打官司的人，他几乎肯定会在法庭上输掉，但那并不意味着他不会试图起诉。戴维斯喝了一口水，继续说道。
You know, legal action would entail months of uncertainty and hurt our stock price. So why rush? Let's go slow and ask QVC to prove they have the finances up front. All I'm really saying is let's do this by the book. Davis sees some of the doubters nodding. This is his chance.
你知道吗，采取法律行动将导致数月的不确定性，损害我们的股票价格。那么为什么要着急呢？让我们慢慢来，要求QVC先证明他们前期有足够的资金。我真正想说的是，让我们按照规矩来做。戴维斯看到一些怀疑者点头。这是他的机会。
How about a vote? Who's in favor of asking QVC for financial proof before starting talk say aye? Aye.. Aye. Davis smiles as the board members fall into line. He's bought Viacom all the time he can. Now it's down to Viacom owner Sumner Redstone to marshal a counter strike big enough to stop Dillard's advance.
我们来投票吧，谁赞成在与 QVC 开始谈判之前要求他们提供财务证明，举手同意一下？同意！同意！戴维斯微笑着，董事会成员们跟进了。他已经尽他所能地买了维亚康姆的时间。现在，红石和维亚康姆的所有者需要组织一次足以阻止迪拉德前进的反击。
Redstone moves fast. Just hours after Paramount's board meeting, he secures a billion dollars of financing from a consortium of banks. Two days later, Blockbuster invests $600 million in Viacom. In return, Redstone gives Blockbuster a seat on Viacom's board. He also promises collaboration between Blockbuster and Viacom brands like MTV and Nickelodeon.
莱德斯通行动神速。就在派拉蒙公司董事会会议几小时之后，他便从一家银行联合财团成功获得了10亿美元的融资。两天后，百事达公司向维亚康姆投资了6亿美元。作为回报，莱德斯通让百事达公司获得了维亚康姆的董事会席位。他还承诺会让百事达和维亚康姆旗下品牌（如MTV和Nickelodeon）展开合作。
The following Monday, Redstone bags another powerful ally. Nine X, the phone giant that covers New England and most of New York. It agrees to buy $1.2 billion of Viacom non-voting stock to get in on the Paramount deal.
下周一，雷德斯通获得了另一个强大的盟友──覆盖新英格兰和纽约大部分地区的电话巨头九X。它同意购买12亿美元的Viacom无表决权股票，以参与Paramount交易。
In just seven days, Redstone's built a $3 billion war chest that he can deploy at will to fend off Dillard. And it's not a moment too soon. The day after Nine X aligns with Viacom, QVC provides Paramount with proof that it's got $4 billion at its disposal. Paramount's now out of reasons to keep ignoring QVC, but Dillard's triumph is short-lived. And that's because his biggest backer, John Malone, is missing in action.
在短短的七天时间里，雷德斯通就建立了一个30亿美元的战争基金，可以随意使用来抵御狄拉德。现在正是时候。在九星与维亚康姆联盟的第二天，QVC提供了向派拉蒙证明其可支配40亿美元的证据。派拉蒙现在已经没有理由继续忽略QVC了，但狄拉德的胜利是短暂的。这是因为他最大的支持者约翰·马龙失踪了。
October 11, 1993, a Black Tide dinner at the Pierre Hotel, New York. Barry Dillard pours himself another scotch and checks his watch. It's after 11, and he's hunkering down at tonight's Black Tide dinner as long as he can. And that's because after a week of silence, TCI boss John Malone wants to speak with him. The fight for Paramount is at a critical juncture.
1993年10月11日，在纽约皮尔酒店举行了一场黑潮晚宴。巴里·迪拉德倒了一杯苏格兰威士忌，看了看手表。现在已经11点过了，他想在今晚的黑潮晚宴上尽可能地呆久一点。这是因为在一个星期的沉默之后，TCI老板约翰·马龙想要与他交谈。对于派拉蒙公司的争夺已经到了至关重要的关头。
Dillard expects to start talks with Paramount soon. Viacom's about to beef up its bid, and Dillard's close to getting phone giant Bell South to join QVC's bid. So Malone's sudden disappearance sent alarm bells ringing. Malone's TV programming company Liberty Media is providing half a billion dollars towards QVC's bid for Paramount. Now's not the time for a major partner to go AWOL.
迪拉德预计很快将开始与派拉蒙谈判。维亚康姆即将加强出价，而迪拉德几乎已成功地让电话巨头贝尔南加入QVC的竞标。因此，马隆突然失踪引发了警报。马隆的电视节目公司自由传媒向QVC竞标派拉蒙提供了5亿美元的资金支持。现在不是重要合作伙伴失踪的时候。
With his afternoon, Malone resurfaced, and he's desperate to talk. But Dillard's dodging his calls, he senses that whatever Malone's got to say, it won't be good. A waiter approaches Dillard's table. Mr. Dillard, John Malone's on the phone for you again. He says it's urgent. There's a private room where you could take the call.
麦龙下午出现了，他很渴望交谈。但迪拉德一直回避他的电话，他感觉到无论麦龙要说什么，都不会是好消息。一名服务员走向迪拉德的桌子。迪拉德先生，约翰·麦龙又给您打电话了，他说很紧急。有一个私人房间可以接电话。
Dillard's size. He can't hide forever. He knocks back his scotch and stands. He follows the waiter to the private room, and takes Malone's call. Mary, you're a hard man to reach. I can say the same with you. You've been MIA for days. No, there's a reason for that. A reason I can only tell you about now. I'm selling TCI and Liberty Media to Bell Atlantic for $33 billion.
迪拉德的规模达不到藏匿的程度。他喝下威士忌，站起来。他跟着服务员走进私人房间，并接到马龙的电话。玛丽，你很难联系上。我也可以说同样的话。你已经失踪了几天。不，有个原因。现在我只能告诉你。我正在将 TCI 和 Liberty Media 以 330 亿美元卖给 Bell Atlantic。
Dillard steadies himself against the wall. He thought his $9.4 billion bid for Paramount was the big play, but from Malone, it's a side show and Bell Atlantic's the main event. Dillard tries putting on a good front. Congratulations. I get it. I really do. You have to do right by your company. I just wish your timing was different. You know, this will severely hurt our bid for Paramount.
迪拉德紧贴在墙上调整自己的状态。他以为他94亿美元的并购派拉蒙电影公司是大手笔，但对马龙来说，那只是一个配角，而贝尔大西洋才是主要活动。迪拉德试图展现出良好的形象。祝贺你，我明白了。你必须为你的公司着想。我只是希望你的时间安排能不同。你知道，这将严重损害我们对派拉蒙电影公司的收购计划。
I disagree. You still have my support. Using the $500 million you're contributing to QVC's bid? Yes. You have my backing. Dillard's not sure what that's worth anymore.
我不同意。但你仍然有我的支持。你会使用你投入QVC报价的5亿美元吗？是的。我支持你。Dillard现在不确定这值多少钱了。
Even if the money's still there, Dillard knows Malone's deal with Bell Atlantic brings other complications, including torpedoing Dillard's efforts to secure additional funding from another phone giant. I don't know how the Paramount bid recovers from this. We need Bell South's money, but they won't want to share Paramount with Bell Atlantic. There'll be regulatory fallout, too. There's no way Washington will waive through your deal with Bell Atlantic. You know, if QVC gets snarled and all that antitrust red tape, Martin Davis will use the uncertainty to persuade Paramount stockholders to reject our bid.
即使资金仍在那里，迪拉德知道马龙与贝尔大西洋公司的协议带来了其他复杂情况，这包括挫败迪拉德获得另一家电话巨头的额外融资的努力。我不知道帕拉蒙特的投标怎么会从这种情况中恢复过来。我们需要贝尔南方公司的资金，但他们不想与贝尔大西洋公司分享帕拉蒙特。这也会导致监管后果。华盛顿不可能允许你与贝尔大西洋公司的交易顺利通过。你知道，如果QVC被纠缠在反垄断的红色条款中，马丁·戴维斯将利用不确定性来说服帕拉蒙特股东拒绝我们的出价。
These things can be overcome. You'll see. Dillard hangs up and puts his head in his hands and despair. This is the second time that Malone's pulled the rug from under him, and he's not sure his bid can recover, and with Viacom preparing a new hire offer, Dillard needs new friends fast.
这些事情可以克服的，你就等着瞧吧。Dillard挂断电话，双手抱住头，心怀绝望。这已经是Malone第二次在他面前扯下地毯了，他不确定自己的竞标能否恢复，而现在维亚康正在准备一份新的聘用提议，Dillard需要尽快结交新朋友。
He starts by recruiting two more backers, cable operator Cox Communications and Advanced Publications, the owner of Vogue Magazine. Cox in advance pledged another billion dollars to QVC's bid. Not that Paramount's listening. Paramount's board Greenlit talks with QVC a week ago, but Chairman Martin Davis still hasn't set a start date for those discussions.
他先招募了两个支持者——有线运营商Cox Communications和Vogue杂志的所有者Advanced Publications。 Cox已经承诺向QVC的竞标计划再投入10亿美元。但派拉蒙却没在意。一周前，派拉蒙的董事会批准了与QVC的谈判，但董事长马丁·戴维斯仍未确定谈判的开始日期。
Fed up with waiting, QVC takes action. It formally announces its hostile takeover bid and offers Paramount stockholders $80 a share. The shopping channel also sues Paramount to force it into talks.
对于等待不耐，QVC采取行动。它正式宣布进行敌意收购，并向派拉蒙股东提供每股80美元的报价。这家购物频道还起诉派拉蒙公司，以迫使其进行谈判。
But while QVC waits for its day in court, Viacom strikes. On October 23rd, Viacom raises its offer for Paramount to $80 per share to match QVC's bid. But while the two offers both value Paramount at $9.6 billion, Viacom has the edge.
但是在QVC等待它的庭审之际，Viacom出击了。10月23日，Viacom将其对Paramount的出价提高到每股80美元，以匹配QVC的竞标。虽然两个报价都以96亿美元的价格估值Paramount，但是Viacom更有优势。
And that's because Paramount must pay Viacom hundreds of millions in compensation if it bales on its merger deal with them. Meanwhile, Paramount continues stonewalling QVC, ignoring its repeated calls for talks.
这是因为如果派拉蒙公司退出与Viacom的合并交易，就必须支付数亿美元的赔偿款。与此同时，派拉蒙公司继续对QVC抱有敌意，无视其反复呼吁举行谈判。
Then, Viacom upgrades its offer to $85 a share to put itself firmly ahead of QVC's $80 offer. But Diller won't be outdone.
然后，维亚康姆将其出价升级至每股85美元，以将自己牢牢领先于QVC的80美元出价。但迪勒不会被打败。
To stop his lunch for Paramount getting waylaid by antitrust probes into John Malone's deal with Bell Atlantic, he asks the cable kingpin to withdraw the half billion he promised towards QVC's takeover attempt. Then, Diller gets Bell South to pledge $1.5 billion towards QVC's bid.
为了防止约翰·马龙与贝尔大西洋的交易引发反垄断调查影响旗下派拉蒙的午餐，迪勒请求这位有线电视大亨撤回他承诺给QVC收购计划的5亿美元。接着，迪勒让贝尔南方承诺向QVC的收购计划注资15亿美元。
For Diller, swapping Malone for Bell South is a win-win. He's up by $1 billion, even after foregoing Malone's funding. Diller immediately uses Bell South's money to hide QVC's bid to $10.8 billion, putting the home-shopping channel comfortably ahead of both Viacom's $10.1 billion offer, and the $7.4 billion Paramount was worth when the takeover fight began a month ago.
对于迪勒来说，用贝尔南德替换马龙是一种双赢的策略。即使放弃了马龙的资金，他也赚了10亿美元。迪勒立即利用贝尔南德的资金将QVC的出价提高到108亿美元，从而将家庭购物频道舒适地领先于维亚康姆的101亿美元报价和一个月前收购战开始时价值74亿美元的派拉蒙公司。
But Diller's inflated bid won't mean jack if Paramount keeps ignoring QVC. And he's counting on getting Paramount's full attention. Once he gets that day in court.
但如果派拉蒙继续忽视QVC，迪勒充气的出价就没什么意义了。他指望得到派拉蒙的全力关注，一旦他在法庭上得到了那个机会。
November 16, 1993. The Court of Chanceree, Wilmington, Delaware. In his Pat Court room, Vice Chancellor Jack Jacobs listens as QVC's attorney shines an unflattering light on Paramount's deal with Viacom.
1993年11月16日，在特拉华州威尔明顿的司法法庭上，副法官杰克·雅各布斯倾听宣韵电视公司的律师对维亚康姆与派拉蒙公司间的交易进行批评。
They call it a merger, but it's a sale. Full of Paramount will transfer to Viacom, which will get 70% of the voting stock. And since it's a sale, Paramount is legally required to seek the best price for stockholders.
他们称之为合并，但其实是出售。带着Paramount的全部资产将转让给Viacom，而后者将获得70%的表决权股票。既然是出售，Paramount在法律上被要求要为股东谋求最优的股价。
The attorney picks up a glass of water and takes a long sip. QVC's case hinges on convincing Jacobs that Paramount is being sold to Viacom. He wants that point to linger for a moment before he goes on.
律师拿起一杯水，慢慢地喝了一口。QVC的案子关键在于说服Jacobs，让他相信Paramount被卖给了Viacom。他希望这个观点能够停留一会儿，然后再继续说话。
And yet Paramount refuses to talk to QVC. Just yesterday it rejected QVC's latest offer of $90 a share, despite it being far above Viacom's current offer of $85. Vice Chancellor Jacobs peers at the attorney through his big square spectacles. You're over your allotted time. Sorry, Your Honor.
不过派拉蒙拒绝和QVC沟通。即使QVC最新出价达到每股90美元，比维亚康姆目前的每股85美元高得多，昨天派拉蒙还是予以拒绝。雅各布高级法官透过他那大方眼镜盯着律师。你已经超过规定时间了。对不起，阁下。
In summary, Paramount is being sold in the courtship compelate to give QVC a fair hearing. He also asked the court to strike down the protections included in Paramount's merger deal with Viacom that deliberately disadvantage rival bids. All QVC wants is a level playing field.
总之，派拉蒙正在被出售，以给予QVC公正的听证。他还要求法院废除派拉蒙与维亚康姆合并交易中的保护措施，这些保护措施有意削弱竞争对手的竞标能力。QVC想要的只是公平的竞争环境。
Jacobs turns to Paramount attorney Barry Osterger. Mr. Osterger? Paramount's lawyer springs up from his chair. Thank you, Your Honor.
Jacob转向派拉蒙公司的律师Barry Osterger。Osterger先生？派拉蒙公司的律师从椅子上弹了起来。谢谢您，法官大人。
QVC just argued that by entering a strategic agreement with Viacom, Paramount has put itself up for sale. That is totally illogical. Osterger starts pacing the courtroom.
QVC刚刚争辩说，通过与维亚康姆达成战略协议，派拉蒙已经把自己卖了。那完全没有逻辑性。奥斯特格开始在法庭上走来走去。
QVC claims that Paramount hasn't considered its offers. Well, my client would be overjoyed to hear a real offer from QVC, but its offers so far have been conditional. Flimsy, short on substance. Paramount has no choice but to reject these not offers.
QVC声称Paramount没有考虑过它的提议。嗯，我的客户会非常高兴听到QVC的真正报价，但迄今为止它们的报价都很有条件。轻浮，缺乏实质。Paramount别无选择，只能拒绝这些不是报价的报价。
Jacobs interrupts. And what would qualifies a bona fide offer in Paramount's eyes? An offer with solid financing that's not subject to regulatory approval. I see. Continue.
雅各布斯打断了，那么在派拉蒙公司的眼中，什么样的正式报价才能合格呢？它应该是一个具有可靠融资且不受监管批准限制的报价。我明白了，请继续。
QVC claims Paramount chairman Martin Davis only agreed to a deal with Viacom because he learned QVC was preparing a hostile takeover. That's pure coincidence. Paramount and Viacom have been talking for years. QVC was not a factor in their strategic alliance and its case is without merit. Osterger sits down.
QVC声称，派拉蒙主席马丁·戴维斯只是因为得知QVC正在准备进行敌意收购，才同意与维亚康姆达成协议。这是纯属巧合。派拉蒙和维亚康姆已经谈了多年。QVC并没有成为他们战略联盟的因素，它的案件没有任何价值。奥斯特格尔坐下。
Jacob's address is the court. Thank you both. I'll deliver my ruling as soon as I can. Court adjourned.
Jacob的地址就在法院。谢谢你们两位。我会尽快宣布我的裁决。法庭休庭。
After weeks of offers and counter-offers, sniping in the press and financial wheeling and dealing, the battle for Paramount now hinges on Jacob's decision. The arguments have been made. The evidence submitted. The deposition is given.
经过数周的出价和还价，媒体中的抨击和金融交易，派拉蒙的争夺战现在取决于雅各布的决定。已经提出了论据，证据也已提交，已完成了资料呈堂。
There's nothing more that Martin Davis, Barry Diller or some Nurett Stone can do, but wait and hope that the court takes their side.
马丁·戴维斯、巴里·迪勒或努雷特·斯通无法再做更多的事情了，只能等待并希望法庭支持他们。
These three media power players are used to deciding their own destinies. But now, their fates are out of their control.
这三位媒体势力强大的人惯于决定自己的命运。但现在，他们的命运已经超出了他们的掌控范围。
November 24, 1993. Paramount headquarters, Manhattan. In his corner office, Paramount chairman Martin Davis eases back in his chair with his phone pressed to his ear.
1993年11月24日，位于曼哈顿的派拉蒙总部。派拉蒙主席马丁·戴维斯在他的角落办公室，靠在椅子上，手机贴在耳朵上。
Viacom owner Sumner Redstone is on the line. Yeah, I also thought the court's decision would be here by now, but I'm told it's definitely coming. What if the ruling isn't as cut and dry as we expect? What if QVC win?
维亚康姆老板萨姆纳·雷德斯通在电话那边。是的，我也以为法庭的决定早就到了，但我被告知它一定会来的。如果裁决并不像我们想象的那么简单呢？如果QVC赢了怎么办？
No chance. I've been here before. When I tried to muscle in on the Time Warner merger, I was the hostile bitter and the courts rebuffed me. QVC's in the same situation I was then. That is reassuring.
没有机会了。我以前已经经历过这种情况了。当我试图插手时代华纳的合并时，我成为了敌对的恼怒者，法院驳回了我的请求。QVC现在遇到了和我当时一样的情况。这很令人放心。
Are your news really serious? Got the various press statements right here.. Use your collection of idiot quotes that say nothing. Newspapers will run them anyway.
你们的新闻很认真吗？这里有各种媒体声明.. 使用你们收集的那些毫无意义的白痴引语。不过，报纸肯定会报道它们。
Good. Let's talk again when the ruling arrives.
Sure. I'll call the moment I get the verdict.
好的。裁决出来后我们再聊吧。
没问题。我一得到裁决就会立刻打电话。
Davis checks his watch. It's 1.30 p.m. Davis rises from his chair and hits to the window. He looks down at Central Park and sees cops arresting someone. Checks his watch again. Still 1.30. He opens his office door.
戴维斯看了一眼手表，现在是下午1点半。他从椅子上站起来，走向窗户。他往下看，看到中央公园有警察正在逮捕某人。他再次看了一下手表，时间还是1点半。他打开办公室的门。
Anything? His secretary looks up. A carrier just delivered something for Don. Not sure what, though. Davis's heart leaps. Don Orsman is Paramount's chief counsel. That delivery could be the ruling.
有事吗？他的秘书抬起头。刚刚有个送货员给唐送了一些东西。不知道是什么。戴维斯的心跳加速了。唐·奥斯曼是派拉蒙公司的首席法律顾问。这个送货可能就是裁决书。
Davis lurches forward, gaining speed as he hurries down the long corridor towards Orsman's house. He doesn't bother knocking. Orsman looks up from the thick document on his desk. He looks like he's seen a ghost.
戴维斯冲向前方，在长长的走廊上匆忙前行，加速前进。他没有敲门。奥斯曼从他桌子上厚厚的文件中抬起头来，看起来像是见了鬼。
Davis shuts the door and leans against it. No. No. He can't. He can't win. Tell me it's not true. Tell me that Barry Diller isn't about to take my company.
戴维斯关上门，倚靠着它。不行，不行。他不能赢。告诉我这不是真的。告诉我巴里·迪勒不会接管我的公司。
2900 miles west at a health club in Beverly Hills. Barry Diller emerges from the locker room. It's mid-morning in California and he's spent the past hour working out in a futile attempt to distract himself from the imminent court ruling.
在加州的比佛利山健身俱乐部，巴里·迪勒走出更衣室。此时是上午中旬，他已经用了一个小时的时间进行锻炼，试图转移自己对即将出台的法庭判决的注意力，但这样做似乎徒劳无功。他在2900英里之外。
He slings his gym bag over his shoulder and heads to the payphone by the reception desk. He feeds in some coins and calls his answering machine to check for messages. You have one new message. Message received today. Playing message one. Barry, Spartan Lipton, the court ruling saying call me. Lipton works for QVC's outside counsel.
他把他的健身包斜挎上肩，走向接待台旁的公用电话。他投入了一些硬币，打电话到自己的语音信箱查收留言。您有一条新留言，今天收到的。播放第一条留言。巴里，Spartan Lipton，请接我电话，法庭的规定。Lipton在QVC的外部法律顾问处工作。
Diller's heart races as he returns Lipton's call. It's Barry. I just got your message. What's the ruling saying? One and not just one, the judge grossed it paramount. Wow. The judge said paramounts board failed in their duties to stockholders. They now have to auction paramount to the highest bidder.
迪勒一接到利普顿的来电，心里兴奋不已。利普顿说，他刚刚看到迪勒的留言。迪勒问道：“仲裁结果怎样？” 利普顿回答：“法官不仅仅是裁定了 Paramount 公司必须被拍卖，而且法官还认为 Paramount 公司董事会未能正确履行对股东的责任。现在他们必须将 Paramount 公司拍卖给出价最高的买家。” 迪勒听后惊呆了，表示“哇，真的吗？”
Diller's eyes widened. And auction? Viacom's offers worth a billion dollars less than ours. We're going to win, huh? Sure looks that way. Well paramount appeal. They already have, but I don't see him coming back from this. So go celebrate.
迪勒的眼睛睁大了。拍卖会？维亚康姆的出价比我们少十亿美元。我们会赢的，是吧？看起来是这样。派拉蒙上诉了，他们已经做过了，但我不认为他能从这里反弹。那就去庆祝吧。
Diller turns around. The health club's deserted, except for a pair of bodybuilders. Diller rolls his eyes. Great. Biggest moment of my whole freaking life and the only people here are two meatheads with a combined IQ of 80. Diller grabs the gym bag and makes for the exit to find somewhere better to celebrate.
Diller转身。健身俱乐部空无一人，除了两个健身者。Diller翻了翻白眼。太好了。我一生中最重要的时刻，只有这里有两个智商总和为80的肌肉头。Diller拿起健身包，向出口走去，希望找到一个更好的地方庆祝。
Paramount's appeal fails. And with QVC's offer worth way more than Viacom's, Diller looks set to win. Now, Redstone must decide whether to raise the stakes or fold.
派拉蒙的上诉失败了。而QVC的报价远高于Viacom，迪勒看起来将会获胜。现在，雷德斯通必须决定是加注还是放弃。
December 9, 1993, Manhattan. In his apartment at the Carlisle Hotel, Viacom owner Sumner Redstone is hosting an emergency gathering of the key people behind his attempt to buy paramount. Like him, they thought paramount was theirs. But now that glittering prize is about to be snatched away by Diller.
1993年12月9日，在纽约曼哈顿的卡莱尔酒店公寓里，维亚康姆的老板萨姆纳·雷德斯通正在举行一次紧急会议，与他一起的是他试图收购派拉蒙影业的关键人物。像他一样，他们认为派拉蒙是他们的。但是现在这个闪闪发光的奖品即将被戴勒夺走。
Among those in attendance are the bosses of Viacom's biggest backers. Wayne Heisinga, chairman of Blockbuster Video and Barry Ferguson, CEO of Phone Giant 9x. And Redstone wants to know if they're still with him.
出席会议的人中有维亚康姆最大支持者的老板们。有 Blockbuster Video 的主席 Wayne Heisinga 和 Phone Giant 9x 的 CEO Barry Ferguson。Redstone 想知道他们是否还支持他。
If both been so supportive and made big investments in Viacom, I really view you as partners. So I wanted to ask what more you're prepared to do.
如果你们俩都一直非常支持维亚康姆，并做出了重大投资，我真的视你们为合作伙伴。所以我想问问你们还准备做什么。
9x boss Ferguson shakes his head. We can't offer more than the 1.2 billion we already have. We've taken enough flat for making that investment while doing the layoffs.
老板弗格森摇了摇头。我们不能提供比我们已经拥有的12亿更多的资金。我们在进行裁员时进行这项投资已经受到足够的批评了。
Blockbuster's Heisinga leans forward. Paramounts are once in a lifetime company. We've come this far. We should get it. We want it, so let's work out how far we'll all go to get it.
Blockbuster的海辛加向前倾身。派拉蒙是一家一生只有一次的公司。我们来到了这里，应该拿到它。我们想要它，那么让我们想一想我们愿意为了得到它去到哪个地步。
Redstone sits back in his chair, stone-faced. He knows what Heisinga wants. I won't dilute my control of Viacom anymore. I'd rather lose paramount than do that.
Redstone坐在椅子上，面无表情。他知道Heisinga想要什么。我不会再削弱对Viacom的控制，我宁愿失去Paramount也不会那么做。
Heisinga looks disappointed. I'm not sure there's a way forward then. Nobody can justify the kind of money we need unless they get some Viacom voting stock as part of the deal.
Heisinga看起来很失望。我不确定是否有前进的方法。除非他们在交易中得到一些维亚康姆投票股份，否则没有人能够证明我们所需要的钱是合理的。
The room goes quiet. But then Viacom's CEO Frank Biondi speaks. OK, I have an idea. Not that anyone's going to do it. Let's hear it anyway. OK, what if someone buys up to $2 billion of the new Viacom stock we're offering to paramount stockholders? It's mainly non-voting stock, but there's some voting stock in there. Viacom could then use that money to enhance its offer for paramount.
房间变得安静。但是维亚康姆公司的首席执行官弗兰克·比昂迪发言了。好的，我有一个想法。虽然不会有人去做它。我们还是来听听吧。好的，如果有人购买我们提供给派拉蒙股东的新维亚康姆股票，高达20亿美元怎么样？主要是无表决权的股票，但里面也有一些表决权的股票。维亚康姆公司可以利用这笔钱来增加对派拉蒙的收购报价。
The 9x CEO folds his arms. No way. That's a lot of dough for a sliver of voting stock. Heisinga edges forward. I'll do it.
那9X公司的首席执行官交叉着双臂说：“不行。为了仅仅一点投票权的股份，那太贵了。”海辛加向前靠近，说：“我愿意买下它。”
The room stares at Heisinga in disbelief. But for Heisinga, this is about Blockbuster's future. Tomorrow's world of on-demand movies won't need video rental stores. He knows Blockbuster's long-term survival depends on owning the content it currently rents to customers.
房间惊讶地注视着海辛加。但对于海辛加来说，这关乎着Blockbuster的未来。明天的点播电影世界将不需要视频租赁店。他知道Blockbuster的长期生存取决于拥有它目前租给客户的内容。
"I'll do it. But on one condition," Redstone leans forward.
"我会做这件事。但有一个条件。" Redstone 前倾了一下。
"Name it."
请给它一个名字。
"I want an unconditional merger with Viacom and fast. Now by unconditional, I mean if we get paramount, we merge. If we don't get paramount, we merge. Whatever happens with paramount, Blockbuster and Viacom merge."
我想要和维亚康姆无条件地快速合并。现在说无条件，我是指如果我们获得了派拉蒙，我们就会合并。如果我们没有获得派拉蒙，我们会合并。无论派拉蒙发生了什么，租赁店公司和维亚康姆都会合并。
Redstone smiles. He thought paramount was lost and Diller had won. But now, there's hope. And the chance to add Blockbuster to his empire too. But only if He and Heisinga can pull together a merger of their companies in record time, promising, but far from a done deal.
Redstone 微笑了。他认为 Paramount 落败、Diller 获胜。但是现在，有了希望。还有将 Blockbuster 加入他的帝国的机会。但是只有他和 Heisinga 能够在创纪录的时间内合并他们的公司，这是很有前途的，但远非轻松完成的交易。
On the next episode, Blockbuster has second thoughts. Viacom gets desperate and paramount ways up the final offers.
在下一集节目中，Blockbuster开始重新考虑。维亚康姆变得绝望，派拉蒙则进行了最后的出价。
I'm wondering, this is episode three of the Battle for Paramount Pictures for Business Wars. A quick note about recreations you've been hearing: in most cases, we can't know exactly what was said. Those scenes of dramatizations, however, are based on historical research. If you'd like to read more about John Malone, we recommend Cable Cowboy by Mark Robyshell.
我想知道，这是《商战》节目中“争夺派拉蒙影业”的第三集。关于重现的说明，我们需要注意的是：在大多数情况下，我们无法准确知道当时的对话内容。然而，这些戏剧化的场景都是基于历史研究而来的。如果你想了解更多关于约翰·马龙的信息，我们建议阅读马克·罗比谢尔的《有线牛仔》。
I'm your host David Brown. Tristan Donovan wrote this story, voice acting by Michelle Philippi. Karen Lo is our senior producer and editor, edited and produced by Emily Frost. Sound designed by Jason Freeman. Our producer is Dave Schilling. Our executive producers are Jenny Lauer Beckman and Marshall Lewey, created by Ernan Lopez for.
我是你们的主持人David Brown。这个故事是由Tristan Donovan创作的，声音演员是Michelle Philippi。我们的高级制片人和编辑是Karen Lo，由Emily Frost剪辑和制作。由Jason Freeman设计音效，我们的制片人是Dave Schilling。我们的执行制片人是Jenny Lauer Beckman和Marshall Lewey，由Ernan Lopez创建。