America 1919-Chapter 681

Chapter 681: 235.

Personnel changes at ABC (Happy Mid-Autumn Festival!)_2 Chapter 681: 235.

Personnel changes at ABC (Happy Mid-Autumn Festival!)_2 A few days later, Joseph Schenck arrived in Atlantic City and met with Donnie!

Joseph Schenck was already 46 years old this year, but his forehead had begun to bald.

After exchanging pleasantries with Donnie, Donnie also told Joseph Schenck the reason he had invited him to Atlantic City, which was to ask him to take the position of ABC’s president.

Facing this invitation, Joseph Schenck was momentarily unclear.

He originally thought that Donnie had invited him to Atlantic City to discuss United Artists, but unexpectedly, it was to offer him the presidency of ABC!

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“Mr.

Block, first, I have never worked in commercial radio and am not clear about the specific operations of commercial radio, and secondly…”

At this point, Joseph Schenck hesitated before continuing, “Secondly, you have only heard my name and some things I’ve done in the past, how can you be sure that I am capable of holding the position of ABC president?”

Donnie confidently laughed, “Firstly, even at present, commercial radio is still a brand-new industry.

Apart from me, I believe there are not many people in the whole of the United States who really know how to operate this industry.

Secondly, I chose you because I saw your capabilities in United Artists.

Charlie Chaplin is a genius in the arts, but not necessarily an easy person to work with in life and work.

Yet, you still managed to be so successful in the position of General Manager of United Artists.

This alone proves your abilities, which is why I need a talent like you!”

Hearing Donnie’s analysis of Charlie Chaplin, Joseph Schenck couldn’t help but give a bitter smile.

His days at United Artists were indeed tough, having come to blows with Chaplin more than once.

In fact, Joseph Schenck himself had already been thinking about setting up his own enterprise, but before the idea could mature, Donnie had found him!

“United Artists is just an above-average film company in Hollywood, whereas ABC is the biggest commercial radio station in the United States.

Moreover, I can assure you, your power in ABC will definitely be greater than your power in United Artists,” Donnie continued.

However, within these words was Donnie’s rhetoric.

He merely said that Joseph Schenck’s power in ABC would be greater than in United Artists, but did not completely hand over power to Joseph Schenck.

This was the contingency Donnie had prepared for himself – he allowed Joseph Schenck to manage ABC according to his own ideas, but not to let the development of ABC go beyond his own control.

Joseph Schenck felt tempted; just as Donnie had said, putting aside ABC’s position in the American broadcasting industry, just the market value of ABC alone was incomparable to United Artists!

If he could take charge of such a company, it would absolutely be a promotion in terms of status and position in his career!

“Thank you very much for your high regard, Mr.

Block!” Facing a young man more than twenty years his junior, when Joseph Schenck said this, he felt no discomfort; in fact, everyone who interacted with Donnie subconsciously ignored his youth.

“Although becoming ABC’s president is incredibly tempting, I still hope that you, Mr.

Block, can agree to one condition of mine!”

Donnie replied noncommittally, “State your condition!”

“I hope to acquire some shares in ABC and for you, Mr.

Block, to introduce me as a member of the ABC board of directors!”

Joseph Schenck made his request.

During this time, he had been considering his situation at United Artists and had come to the conclusion that his frustration there was because he did not own shares in United Artists; he wasn’t a shareholder, and therefore did not have as much say as Chaplin.

If he had been a shareholder of United Artists, then many of the plans he had in mind could have been realized!

Donnie gently tapped the tabletop, and after some thought, he replied, “I cannot agree to that request, at least not for now.

You have not yet generated any profit for the company.

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Although I have great faith in your abilities, I also have a responsibility to the board of directors.

Until you have made a contribution to the company, I cannot persuade the board to approve your inclusion as a director.”

Donnie was not surprised by Joseph Schenck’s wish to be one of ABC’s directors; after all, he had already harbored such ambitions during his time at United Artists.

In fact, it had been mentioned before that many American companies at the time did the same, granting management a portion of the company shares, making them insiders, so that they would be better motivated to create wealth for the company.

However, this arrangement would inevitably lead to the dilution of the founder’s shares over time.

Donnie would not give up his absolute controlling interest in ABC!

Therefore…

in Donnie’s mind, Joseph Schenck was merely an interim measure.

Once his own talent pool developed, Schenck could leave the position of ABC’s president.

Of course, this was something that definitely could not be mentioned to Joseph Schenck!

“Of course, as a tradition in the company, once you become ABC’s president, you will be eligible for the management’s profit-sharing.

As for becoming a shareholder and a board member, that requires you to demonstrate your abilities in this position and gain the approval of the majority of the board.

At that time, I will naturally introduce you to the board!”