Who is the entertainment capital of the 'king' - Wang Jun and Wang Changtian decade racingthe eve of the explosion in the entertainment industry, where, Wang Jun and Wang Changtian both grab the runners with very different approach to capital, Nike Heels Boots business expansion, their character determines their choice, they choose to change the fate of the text of their respective companies | Articles special correspondent Tao Lei Xiaoyu Photography | staff reporter Daishi Heng Edit | Shen sound Wang Jun, 48, Huayi Brothers Media Group boss. Troops grew Beijing courtyard Wanzhu. When the 'Abroad', worked as an artist, selling over BMW. Now, he more and more like a Hollywood mogul. Wang Changtian, 43, founder of Enlight. Born in a village near the Dalian. China was one of the best newspapers and television reporters, shrewd diligence, hands. Now, he more and more like a dervish. As a businessman, the real difference between them is: 'The two companies have not in a horizontal line near the light Huayi income doubled, profits have more than a lot..' He is an investment bank evaluator, and the two companies have in-depth cooperation. Wang Changtian who is leading. In 2004, Enlight's revenue more than 300 million yuan, China became the largest private entertainment and media companies. At that time, Wang Jun has been questioned, relying on 'a person (Feng)' approach can hold out long. He need not hold it much longer. In that year, Wang Jun won the TOM Group's investment. Soon, the list of shareholders of Huayi Brothers joined Ma, Jason Jiang, Yu Feng, Lu Weiding, Dr. Tan and other names. Next, Wang Jun began to enter the entertainment industry has experienced since the most glorious day. 'Assembly' to create a 260 million yuan at the box office, 'The Forbidden Kingdom' in the United States gains of nearly $ 50 million. Huayi Brothers TV shows, music, artist management and other services have taken advantage of the sky. TV drama 'shock troops' with the fire of Huayi's group of unknown artists. On the private market, Huayi Brothers has become a market value of nearly two hundred million US dollars of the company. CITIC Securities, China Merchants Securities investment banking executives frequently visit. If successful, Huayi Brothers will become the first domestic private entertainment and media enterprise separately listed. It seems to follow the conservation of energy, as in Beijing, Wang Changtian found his pace slowing. His ace TV program 'Entertainment Live' has been expelled from Beijing, Shanghai, Changsha. In the search for new business, Wang Changtian also began the contest with his capital (the word was replaced by 'cooperation' in Wang Jun there). He received SAIF investment. He abandoned. He got the chance to backdoor Nike Pepper Shoes listing. He abandoned. He can not stand, 'so low' prices. He had to endure before the trip so slow. In a fast-growing industry, four years mean? Perhaps there is no need for so long, is enough to make a company a meteoric rise, let another company do not stop before. Wang Jun Wang Changtian how how emerged miss Part I capital / circle WangZhongJun most admirable is two things:?? First, he may not be very good at sharing, but he is good cooperation, he has a more open mind; he comes second do, never acts. For example, when he talk with Hurray to sell a controlling stake in Huayi Music this thing, one thing is quite regret until today, including shareholders around him, he was also opposed to this thing, but Wang Jun at the table agreed and he would bite the bullet and do it. This is Wang Changtian there is unthinkable, at one minute before he will sign complications. Character is not the same as the way things are is not the same result. - ECapital CEO Ran Wang treat capital, Wang Jun initiative, Wang Changtian passive. In 2004, Wang Jun from the experience with the first workshop operation. Huayi Brothers film at the box office for the first time billions of dollars ('A World Without Thieves'), and Hong Kong Media Asia co-produced the film 'Kung Fu' Similarly sold for no profit 'Hoh Xil' and 'Cala, My Dog' earn a reputation. This is just the surface of scenery. Feng Xiaogang's film popular applause, but the profit is not high, and only a year. Huayi Brothers and Columbia film company from six to about cooperation started in 2001 is about to expire. Cooperation, Colombia assumed most of the investment. Investment of HK $ 160 million of 'Kung Fu' are two sides of the sixth film, Huayi Brothers is also just 5 percent share. After the end of cooperation, according to Colombia without investment in Huayi Brothers originally envisaged. In the film entertainment industry, many companies behind the 'gold master' is the real estate. Huayi Brothers, Paige, wheat fields are too large shareholder of Real Estate, the media patron is Bo Feng Lun. Investment 'just for fun' nature of the decisions developers have not put too much in this high-risk market. Wang Jun eager to break traffic bottleneck. How Huayi Brothers in the film industry has been established to acquire brand expansion, especially in the field has not been involved in drama, music, etc.? 'In vain to establish a long brand, you do not have a little pity.' But he did not have enough hands capital, too close nor his ideal shareholders. With various other entertainment company executives, Wang Jun always liked dealing with entertainment outside of the circle of entrepreneurs. He frequently participated in meetings of various entrepreneurs, where each is a potential source of funding. By the end of 2004, he met when he was TOM Group CEO Wang at the Grand Hyatt hotel lobby. They only nodding acquaintances before, after some pleasantries, the king is looking for investment projects in the mainland media industry initiative to ask:! '? Huayi Brothers do need the money,' 'Need ah' Wang Jun first to 75 million yuan, a premium of 3 times Taihe repurchase a 45% stake in the hands of the group. Then, with Li Ka-shing's TOM Group background $ 5,000,000 in cash and $ 5 million Air Jordan 4 Retro investment in convertible bonds become a strategic investor Huayi Brothers, holding 27%. Nike Shoes At the same time, Huayi Brothers as financial adviser Wang Chao Yong also on behalf of its ChinaEquity $ 750,000 investment, acquire 3% of the shares. Wang Jun and his family's stake in the company rose to 70%. By the end of 2004, Wang Changtian just shelved investment negotiations with SAIF. In fact, the light in the eyes of venture capital 'gold mine.' In the private television production industry, light one more than the sum of income was ranked five companies. It has nine levels and 1 part of the weekly program, the daily production capacity over six hours, the Air Jordan 6 program in nearly 300 TV channels. Like many self-made domestic entrepreneurs as lay the country, when the 'capitalists' when the knock came, Wang Changtian psychological complex. 'On one hand we're not short of money, and was thinking, I took the money in the end why? There's nothing worth acquired company or situation you face After the acquisition it is the same with you. You do other business, such as movies, TV shows, the time is not ripe? 'early light alone the 100,000 yuan rolling development, the hardest when there is no one 'timely.' Now, it's TV business has accumulated a huge profit, but also need to 'icing on the cake' it Wang Changtian idea is:? First, put their own business selling a high price. Second, to minimize installed some of the core business, the greater risk is put to new business, let VC to 'pay.' After careful consideration, he put the financing target in two. Joint IDGVC SAIF, United Fidelity Legend Capital, their bid for $ 10 million, accounting for about 16% of the shares of light. Wang Changtian chose to invest grand SAIF became famous, and soon signed a letter of intent to invest. Since then, Wang Changtian SAIF made to increase the requirements, the latter accepted. Not enough time to enjoy the excitement of the successful financing, in consultation with the friends were Dangdang founder Peggy Yu and e Founder Justin Long after Wang Changtian ruefully think that they may still sell cheap. Although difficult, Wang Changtian or to SAIF Yan Yan, head of the requirements proposed fare increase again. 'Prices have again spoken time!' As the venture capital industry leader, has always been a strong style of Yan huff. October 2005, Softbank invested in favor of another private TV company joy media. Cooperation with TOM let Wang Jun's career to a new level. In order to complete this round of private placement, the company first combed the management structure, the establishment of a standardized financial sector and external auditing system. Wang Jun began to invest billions of such a big production like 'The Banquet,' while Huayi Brothers also won the Hong Kong Media Asia film 'Battle of Wits' invest $ 13 million opportunity. However, operating results landslides difficult to meet soon TOM Group Wang Jun's appetite, he needs to introduce new shareholders. In 2005, because of the sale of shares of Alibaba to Yahoo $ 1 billion high-priced, and get Yahoo China, Ma fame. He is Wang Jun's friend. Ma has not been elated when Wang Jun often invited him to dinner together. Useless 20 minutes, Ma gave a straightforward answer. He also gave Wang Jun, an important recommendation:. 'Like strategic shareholder of TOM shares should not be too high, not only in the army you can not take the money in this round, and I should pay to join' The end of 2005, TOM to $ 16 million The price reduction of 20% stake in Huayi, Wang brothers repurchase 5%, in the name of Ma's company took over 15 percent of Yahoo China. TOM Group's stake dropped to 7%. About the same time, Wang brothers also benefit from the letter on hand to repurchase 2% stake. Wang Brothers shares rose 77%. Ma's Yahoo China, Taobao Huayi quickly became the most important business partners. Ma also helped WangZhongJun outlined a strategic blueprint, which means greater demand for funds. They negotiated a financing in the target list of the next round, the Chinese media industry upstart Jason Jiang routed to the first one. 'Literary youth, imaginative, have feelings, let him cast the film, necessarily meet his dream.' The second is Yu Feng, 'his money just cash, badly in need of a good thing to vote, Huayi is a good thing . 'Lu Weiding is Ma's friend, Wanxiang Group, a small club. Wang Jun and Ma flew to Shanghai together. 5 people to eat a meal, 'how much money each person after that the financial and legal thing dig, accounting for the number of shares, on the spot finalized. A.' In the third round of financing in Huayi Brothers, Jason Jiang, Yu Feng , Lu Weiding jointly invested $ 20 million. TOM sell the remaining 7% stake, acquired a 20% stake in return close to the last round of transfer. Jason Jiang et al., Shares also attracted Focus Media CEO Tan Zhi. A few months later, Dr. Tan and Delong Holdings chairman Ding Liguo again a premium subscription of 10 million yuan Huayi Brothers issuance of new shares, to catch the last train. After four financing, Wang Jun family and its core team still maintained a 60% stake in Huayi absolute control. When Wang Jun triumph when Wang Changtian finally realized that money is always enough. January 1, 2005, light flagship program 'Entertainment Live' is adjusted out of the five years has been broadcast four programs Beijing platform. This scene soon in Shanghai, Changsha and other places again. Soon, Wang Changtian as 'Entertainment Live' to find a new platform in Beijing landing light up a joint venture with China Education Television visual media. In the light of the contents of the support, China Education TV Station and Beijing TV station began three momentum no small competition. Before long, the cable TV users in Beijing suddenly find themselves no longer able to receive education three television program signals. Looking back now, Wang Changtian still think they do not accept the SAIF investment is right, 'the second half of 2005 the industry took a downturn, me too. Financing is conditional, reach (performance) will be miserable, certainly more powerful diluted share. Even without dilution, investors may have to disappoint you, think of ways to solve you. 'to light interesting venture capitalists still flooded, but eager to develop new business, Wang Changtian has opened a higher price. In 2006, he told reporters, 'If you look from the perspective of financing for the construction of the Internet and wireless would more than $ 10 million, if coupled to provide video content to reach $ 20 million.' Of course, 'even in the absence of financing, We will invest at least $ 10 million. '' He always said that the light value higher than the market value for the piece. 'One investment banker, who has done a financial adviser to Wang Changtian sigh. In 2006, Enlight results fell short of expectations due to various reasons. It is said that more than 400 people attended the annual meeting, Wang Changtian tears remorse, 'the company will have today's situation, is to do my parents I'm sorry everyone, I did not let our brothers and sisters here live a better life ...... 'In 2007, under the Renaissance CEO package where the match, the light and in the Nasdaq-listed company SP Hurray (Nasdaq: HRAY) reached a merger agreement. March 2008, the agreement terminated. Although both sides accuse each regard, the key reason may or price. Hurray market capitalization of about $ 100 million, according to the agreement, the light occupies 42% of the combined stake of 65% at best. And as early as four years ago, SAIF and other venture capitalists have been valued to light more than 70 million US dollars. Next person / chain WangZhongJun entire operating on one word - 'Man,' he is to seize the people. This is one of his ideas. The practice is the pattern of light, we can make great emphasis on future industrial production. - Feng Wang Changtian WangZhongJun found. Then, he found a number of Feng Xiaogang. When heavily dependent on Feng Xiaogang Wang Jun repeatedly asked, 'Feng Xiaogang's sick how to do', he began to consider: '? What can replace Feng enable enterprises to balance,' he saw a steady income drama business. Drama is China's main TV stations around the sources of advertising revenue, the national 1974 television channels broadcast television in 1764, television advertising accounted for more than 50% of the total revenue of all levels of television advertising. Wang Jun decided to enter the TV series was widespread opposition within the company. 'Boss, Chinese production of more than 10,000 TV sets a year, to sell more than 70 sets, set on more than 4,000 real money.' 'We'll do that 4,000 sets, why do people lose money ah? Know they What's capacity is, is your own ability of. 'Wang Jun replied. 'Why are we successful movie? Rely on 'big-budget, big plus the biggest names in film and television'.' Wang Jun will soon list a domestic drama producer list of the top ten, and then one by one negotiations. He first went to the Zhang Jizhong. 'Actually, I do not know, we think this drama who fire a few years, Zhang Jizhong fire, to see him.' Just 30 minutes of negotiations, signed WangZhongJun Zhang Jizhong, the conditions are also included in the equity of Huayi Brothers. Then Zhang Guoli, Zhao Baogang, 'There is no talk about coming in, which is normal, my friend did.' Kang Honglei is Wang Jun, persuaded. Eventually, the Huayi Brothers signed a total of five well-known TV series producer, acquired their company. He is generally paid by the company earnings these shows 10 times. In cooperation with the best producers, to protect the profitability of Huayi Brothers drama business. By 2007, the annual output of more than 500 set drama Huayi Brothers, Huayi Brothers to become a stable source of cash flow. Wang Jun and other media organizations with different artistic talent management approach. In Huayi Brothers internal, director Feng Xiaogang, Zhang Jizhong television producer, artist manager Li Xue and so have their own studio. Similar to a small studio, independent accounting, the person in charge has a business initiative. Wang Jun performance of these studios will be ranked bottom out of every two years, and the introduction of new blood. In Hollywood, a similar workshop proved to be Air Jordan Fusion a successful business model in line with creative talent. Wang Jun is not only good friends become shareholders will also be happy to let the artist become shareholders of Huayi Brothers. Huayi Brothers shares have had only director Feng Xiaogang, Zhang Jizhong joined later also used to attract equity incentive. Today, including Li Bingbing, Huang Xiaoming, Kang Honglei, including more than 80 people all have Huayi Brothers shares. It is also inspired by Ma. Years, Huayi Brothers Media Group, which owns a number of companies invested Pictures, film distribution, music production, advertising, cultural brokers. Established from the screenwriter, director, production to marketing, theatrical distribution and other basic full movie production system. With years of worry-run connections and personal credit, it is not difficult to find the money to Wang Jun. Wang Wenjing, chairman of UF shares Wang Jun often received a phone call a few years, he lent a total of nearly 100 million yuan Wang Jun. When preparations Huayi Brothers film 'Assembly', is expected to 100 million yuan of funds required, Wang Jun, raised 50 million yuan, the gap partly from short-term loans to investment banks. China Merchants Bank president Ma Weihua Wang Jun is also an old friend. Today, in addition to dealing with bankers, investors, and industry giants, WangZhongJun need to do is head of the group from time to time and studio eating dinner, or occasional crew visit. More often he would sleep in till noon, and then go to Sanlitun about the 35 friends to play poker. On weekends he would go to the outskirts of the racecourse walk with his valuable horses, look at art market. Company specific production business to his brother - Huayi Brothers CEO Wang Lei. Wang Changtian vision for the future more clearly than Wang Jun earlier. Murdoch is the most admired Wang Changtian media giant. 'He really is an excellent strategist, and a very good businessman. You look at his entire layout of the company's business, doing really great. Again handwriting on the acquisition, his price is often much higher others, so that you Even the possibility of refusal are not. 'do' all media 'has been Wang Changtian dream, but seriously do not comply with China's reality. In 2003, Enlight jointly with the State Administration of Radio, a weekly entertainment - 'Star Big Star'. The newspaper's circulation was known as hundreds of thousands of copies, but because of 'let the gossip landing', two did not cross the break-even point, Wang Changtian can only be stopped. After 2004, Wang Changtian has and Nanjing, Xi'an, television, and education Taiwan joint venture, trying to intervene on the television channel of the overall operation. This road was quickly blocked administrations, and even pay digital TV channels do not get anywhere. 1 year after March 2005, Wang Changtian retreat study was America's most popular Internet companies Myspace.com. The traditional media began to adhere WEB2.0, devoted most of his energy into the Internet business, the light was recruited into the company's network division team of hundreds of people. But the existence of traditional and Internet media people who thought a huge difference, e network (www.ewang.com) destined to be a fantasy, the Internet did not complete the transition of new media Wang Changtian dream. 'From the industrial layout is concerned, in fact, we finally are the same thing, that is both a movie, TV, music, artist management should have. But you will see that people say are a step in the realization Nike King of light often That said, finally in the original circle. bankers 'who with' two kings 'have cooperation said. Venture past 10 years, the light of the entrepreneurial team has remained relatively stable, a number of veteran entrepreneurs remain in the company, with a minority stake. Wang Changtian owns a majority stake. 2004 was a period of light ever outermost of the management team. Wang Changtian really recruited a group of professional managers come in, but now most have left, now in charge of Enlight Zhao is one of the only two people. Whether it is television or film industry, market competition is far from adequate, the market structure is also far from certain, Wang Jun and Wang Changtian story is just beginning, if two people since this far across the twilight between the end of this decade race, that's a bit too boring. Once Wang Changtian pass several capital to capital but now have a more definite desire, 'if we look at the first two years, you took the money to do it? There's nothing good company acquisitions, on television you can not buy, nothing better to do, and now is not the same to take the money, and now I know what I want to buy the company. '' I simmering strength, must take the company made a relatively high market capitalization, so that these people feel so many years in the company not for nothing. 'Wang Changtian said. His greatest joy was in every day after work and colleagues went out for dinner, and each time he would carefully choose a different restaurant, sometimes through the Internet; sometimes through newspapers, advertisements.