Chasing Stars in Hollywood

Friday, January 3, 1992.

In the new box office week, as people began returning to work after the holidays, the box office earnings for a series of films released during the year-end period experienced a significant decline.

From January 3 to January 9, the box office for "The Flash" dropped by 49%, from last week's $53.18 million to $27.12 million this week.

However, in just three weeks, "The Flash" had rapidly reached a cumulative box office of $153.16 million.

With a third-week base of $27.12 million, it's not a problem for "The Flash" to earn another $100 million, easily surpassing $250 million in total North American box office, making it the runner-up in the 1991 North American box office.

"Toy Story," which had a steady box office trajectory, also experienced a 43% decline this week, with weekly earnings falling to $7.79 million, bringing its cumulative total to $166.83 million.

Following closely, films like "Captain Hook," "JFK," and "007: GoldenEye" all saw a 40% to 50% drop in their box office earnings this week.

Of course, according to usual box office trends, after this week's steep decline, next week's box office will adjust to levels similar to the year-end holiday period based on these films' media reviews and audience popularity.

Overall, this is just a shrinkage in box office revenue typical of a slow season.

After handling some accumulated work from the end of the previous year at Daenerys Entertainment, Simon flew to New York on January 6 and spent the following days busy with final preparations for the groundbreaking of Westeros Tower.

The specific design work for Westeros Tower was undertaken by the renowned North American architectural firm SOM (Skidmore, Owings & Merrill). David Johnston's girlfriend Leslie Wicket's design firm had also shown interest in the project. However, Simon couldn't hand over the design of such an important building to a mid-sized firm with little experience in designing super high-rise buildings just because of personal reasons.

The design of a super high-rise building involves much more than its appearance. It requires considerations for structure, load-bearing, earthquake resistance, ventilation, and a series of complex professional issues.

By comparison, SOM, established in 1936, has extensive experience in designing high-rise buildings.

Similarly, the construction of Westeros Tower was contracted to the historic Tishman Realty & Construction.

For the average person, Tishman might not be a household name. However, the series of projects this construction company has undertaken, such as the Twin Towers of the World Trade Center, are well-known.

Additionally, Tishman has built projects like Disney World in Florida and numerous Hilton hotels worldwide.

The selection of SOM was entirely Simon's personal decision, but the choice of Tishman also involved other factors.

Simply put, Tishman is akin to a local real estate powerhouse in New York.

This construction company, established at the end of the last century and run by the Speyer family, has built an intricate network of connections in New York's political and business circles, with even the Rockefeller family in the background. Both the current and former heads of Tishman have served as chairmen of the New York Real Estate Board.

The final design for Westeros Tower is 622 meters tall with 139 floors.

This includes 135 above-ground floors and 4 underground levels.

Simon and Janet's residence will occupy the top 50 meters of the building, spanning ten floors. The helipad platform from the original Avengers Tower is also retained in this building, making it one of the most challenging aspects of the design.

Standing at 622 meters, Westeros Tower will surpass the Empire State Building's 443 meters and the Twin Towers' 417 meters by 200 meters, becoming the tallest building in the world upon completion.

Such a landmark skyscraper can significantly boost the reputation of any architectural firm and make any construction company famous. As an established local player in New York, Tishman naturally wouldn't let such an important project slip through their fingers.

When news of the Westeros Tower project first broke, Tishman proactively reached out to Simon.

Simon had no intention of antagonizing this local powerhouse, especially since Tishman was qualified to undertake the project. After several rounds of negotiation, the contract was officially signed last year.

In return, Tishman provided considerable assistance with the building's approval process.

However, despite entrusting the main construction task to Tishman, Simon did not fully trust the company solely based on its long-standing reputation.

Simon hoped that Westeros Tower, like the Empire State Building, would stand for a century.

Therefore, every detail of the project must be flawless.

Westeros Company has organized a dedicated financial oversight team to monitor all expenditures of the Westeros Tower project in real-time over the next five years of construction.

Simultaneously, leveraging the Johnston family's connections, Simon assembled a technical expert group in Australia covering building materials, structural engineering, and various other aspects. This team will be stationed in New York for the next five years to closely monitor every detail of Westeros Tower's construction.

With dual oversight, there will be no opportunity for the construction team to cut corners.

After a week of continuous work, reviewing various details of the planned skyscraper, and signing numerous contracts ranging from material procurement to accident insurance, the project's preliminary preparations were finally completed. The six buildings between 59th and 60th Streets east of Madison Avenue in the Upper East Side will begin demolition next week.

Demolishing the original six buildings and completing subsequent cleanup is expected to take two months.

Including the initial land purchase costs, SOM's design fees, Tishman's construction deposit, and material procurement contracts, Simon has already invested over $400 million in the project.

Given Simon's highest standards for every detail of Westeros Tower, the subsequent annual expenditure over the five-year construction period will not be less than $200 million.

Upon completion, interior utilities and furnishings will also be significant expenses.

Overall, the total budget for Westeros Tower may exceed $1.6 billion, making it the most expensive single-building project in history.

In the original timeline, the rebuilt World Trade Center's highest-spec tower had a total cost of $3.1 billion.

That building, however, began construction in 2006, fourteen years after now.

It is currently 1992, and the dollar is very valuable, with most American billionaires' net worth under $5 billion.

Saturday, January 11.

After a busy workweek, Simon drove from Manhattan to East Hampton on Long Island to visit Steve Ross.

Late last year, Steve Ross's privately battled prostate cancer, which he had been fighting for five years, recurred, and he recently started chemotherapy.

Simon knew that this media mogul, who was the same age as Rupert Murdoch and Sumner Redstone, would likely pass away this year.

Ross was 65 this year.

For someone at the pinnacle of society, 65 is not considered old.

People like Murdoch and Redstone, of similar age, continued to control their media empires almost 30 years later.

For an ambitious person, losing to time is undoubtedly a great regret.

Ross was very pleased with Simon's visit and had instructed his family to prepare a sumptuous lunch in advance, also inviting some guests to accompany them.

After a lively lunch, Ross sent everyone away and took a walk with Simon around his East Hampton estate.

As one of the best summer resorts for New York's wealthy, East Hampton in its coldest season of the year was less appealing. A recent snowfall had blanketed the barren grass and withered trees, creating a desolate white scene.

With hands casually in his coat pockets, Simon chatted about the DC film universe with Ross and looked around again, saying, "It's quiet here, but it seems a bit too cold. Steve, I still suggest you go to Los Angeles, where the climate is more suitable for recuperation."

Steve Ross, also dressed in a thick black coat and wearing a hat, had lost most of his hair due to chemotherapy.

"I still prefer the East Coast, and besides, Time Warner's headquarters is here. You know, Simon, I can't leave now."

Simon understood.

Later this year, Ross's $79 million annual salary from 1991 would again become a media controversy. Moreover, after last year's merger, Ross had set up a ten-year salary agreement for himself, which would continue even after his death.

Simon sensed that the accumulation of over $100 million in annual salary for two consecutive years and the ten-year salary agreement clearly indicated Ross was preparing for his end.

The issues from the Time Warner merger had not been fully resolved, and Ross's enormous salary had sparked strong dissatisfaction among other factions within Time Warner.

Knowing too much about cancer's horrors, Simon understood.

Enormous wealth could ensure a person faced no financial burden after a cancer diagnosis, but cancer remains hard to cure and varies from person to person. Some live decades post-diagnosis, living normally, while others succumb quickly.

For Ross, switching to a more comfortable environment wouldn't make much difference.

Although Simon and Ross didn't have a deep friendship, this self-made media mogul, who thrived in both legitimate and illegitimate circles, had a strong charismatic personality, adept at garnering goodwill.

Clint Eastwood had been making films exclusively for Warner Bros. for the last decade, influenced by Ross. Spielberg regarded Ross almost as a father figure, and his "Schindler's List" was dedicated to Ross in the original timeline.

Though their interactions were few, Ross gave Simon a very positive impression.

After walking for a while, Ross's wife called them back to the villa, as Ross's health was unsuitable for prolonged exposure to the cold.

Back in the warm living room, seated on the sofas by the fireplace, Ross said, "There's one more thing, Simon, that I hope you

 can help with."

Simon nodded, signaling Ross to continue.

"It's about Terry and Bob. I hope they can succeed me as CEOs. I've spoken with Steven and the others. Of course, if they have your support, it will be easier for them to take over Time Warner."

Ross referred to Terry Semel and Robert Daly, his trusted aides over the years.

Terry Semel had been CEO of Warner Bros. Pictures for the past few years, and Robert Daly was in charge of Warner Bros.' communications division.

In Simon's memory, after Ross's death, Terry Semel and Robert Daly did indeed jointly take over as CEOs of Time Warner.

Daenerys Entertainment's current close collaboration with Time Warner, and Simon's purchase of 1 million shares of Time Warner stock during last year's stock issuance, though a small percentage without voting rights, meant Simon Westeros's stake in Time Warner spoke volumes.

Simon now had the power to support Ross's chosen successors.

Moreover, helping Terry Semel and Robert Daly ascend would certainly benefit future collaborations between Daenerys Entertainment and Time Warner.

At the very least, it would ensure no unforeseen changes in the DC film universe.

Since Terry Semel and Robert Daly jointly took over as CEOs in his memory, Simon didn't mind granting this favor. He earnestly nodded and said, "No problem, Steve. I'll support them. What about the chairman?"

Ross smiled wryly at this question.

Currently, Ross held both the chairman and CEO positions at Time Warner.

Pushing Terry Semel and Robert Daly to the joint CEO position was likely the extent of his influence.

"The chairman will probably be Gerald Levin."

Gerald Levin, a core executive from the original Time Inc. and a significant shareholder of Time Warner.

During the original merger, Levin was one of the key proponents from Time Inc.

However, due to Paramount Communications' intervention, the merger between Time Inc. and Warner Bros. was almost reversed, and many high-level executives from Time Inc. didn't gain much power or benefit post-merger. Ross's previously good personal relationship with Levin also deteriorated.

Due to Ross's suppression, Levin now held a relatively powerless vice chairman position.

However, once Ross passed away, Levin could likely leverage the original Time Inc. faction and perhaps Warner's internal dissenters to claim the chairman position more effectively than Terry Semel and Robert Daly.

Simon had considered some bolder ideas, such as acquiring all of Time Warner.

But these were just thoughts.

Skirting antitrust regulations to control MGM was already the limit of what current US antitrust and media industry regulations could tolerate.

Even with further deregulation in the media industry, given Daenerys Entertainment's current scale, acquiring Time Warner would be extremely difficult.

Moreover, Daenerys Entertainment needed competitors.

Time Warner was suitable for being such a competitor in the future.

Of course, mostly on the surface.

An internally conflicted Time Warner had little chance of competing with Daenerys Entertainment.

Steve Ross's proactive compromise, planning to give the chairman position to Gerald Levin, provided a perfect pretext for Daenerys Entertainment's "confrontation" with Time Warner.

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