Post by Mysterious-X on Oct 30, 2008 20:35:43 GMT -5
Future Entertainment Networks has made an offer to buyout Massive Media Limited. They have offered 8 billion dollars but insiders say the offer could go as high as 12 billion.
MML is currently worth 3 billion dollars.
CEO of FEN had this to say, "We feel that merging with Massive Media Limited would expand our reach to the Sports and DVD sector. This would compliment our television networks programing and give us a more affordable way to press dvds for our studios."
MML largest IP holding, Red Money Wrestling, makes this buyout complicated. MML does not hold any copyrights to RMW. All of RMWs copyrights belong to Victor Castro (Mysterious-X) and Wife Beater (Wifebeater).
After the offer was made Bergman sent a letter to both Wifebeater and Mysterious-X. The letter said "I am prepared to offer you 10 million dollars for your IP of RMW. I will also buyout your contract for 5 million." Both Mysterious-X and Wifebeater must accept for the deal to work.
Bergman is also on record saying that if they did not sign the contract then he would cut RMWs funding. Since all of the contracts (Except Wifebeater and Mysterious-x's) are made out to RMW instead of MML this could very well end the company. X is responsible for the company and lawsuits for unpaid wages would be directed at him.
Tom Bergman said this "RMW is independentally X. Many years ago he signed a contract where we would fund the company and all profits up to 125% of the budget we give them. A clause in that contract says the buget is set by the current CFO and can not go below 25,000 yearly.
With Venue rentals and salaries it costs about 125,000 a year to run the place and it pulls in about 130,000. We give them 127,000 to run the place. We only make around 3,000 from the establishment.
Without our money X cannot pay the salaries. So I was talking to my CFO and starting November 1st RMWs budget will be dropped to 25,000 yearly or 2083 monthly as opposed to 10,583. I will choke them until they have no choice but to sign the deal."
MML is currently worth 3 billion dollars.
CEO of FEN had this to say, "We feel that merging with Massive Media Limited would expand our reach to the Sports and DVD sector. This would compliment our television networks programing and give us a more affordable way to press dvds for our studios."
MML largest IP holding, Red Money Wrestling, makes this buyout complicated. MML does not hold any copyrights to RMW. All of RMWs copyrights belong to Victor Castro (Mysterious-X) and Wife Beater (Wifebeater).
After the offer was made Bergman sent a letter to both Wifebeater and Mysterious-X. The letter said "I am prepared to offer you 10 million dollars for your IP of RMW. I will also buyout your contract for 5 million." Both Mysterious-X and Wifebeater must accept for the deal to work.
Bergman is also on record saying that if they did not sign the contract then he would cut RMWs funding. Since all of the contracts (Except Wifebeater and Mysterious-x's) are made out to RMW instead of MML this could very well end the company. X is responsible for the company and lawsuits for unpaid wages would be directed at him.
Tom Bergman said this "RMW is independentally X. Many years ago he signed a contract where we would fund the company and all profits up to 125% of the budget we give them. A clause in that contract says the buget is set by the current CFO and can not go below 25,000 yearly.
With Venue rentals and salaries it costs about 125,000 a year to run the place and it pulls in about 130,000. We give them 127,000 to run the place. We only make around 3,000 from the establishment.
Without our money X cannot pay the salaries. So I was talking to my CFO and starting November 1st RMWs budget will be dropped to 25,000 yearly or 2083 monthly as opposed to 10,583. I will choke them until they have no choice but to sign the deal."
