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Chapter 443 - Chapter 443: Thunderous Measures

[Chapter 443: Thunderous Measures]

On November 9th, PricewaterhouseCoopers finally completed a thorough audit of Universal Group and submitted their report. The conclusions in the audit matched closely with the inventory list provided by Panasonic Electronics at the time of contract signing.

The Federal Trade Commission had also approved the multinational acquisition. Linton secured loans for $2.3 billion from Wells Fargo and $2 billion from the Bank of California, using the funds to cover the remaining balance and finalize all the acquisition procedures for Universal Group.

To achieve tax benefits for the UPN TV Network, the ownership of Universal Group's shares was structured such that Linton personally held 70% of the shares, while UPN TV Network held 30%. This way, the $1.7 billion that UPN used for the acquisition could be accounted as reinvestment, allowing the company to avoid paying taxes on that income -- saving roughly $700 million in taxes. Since UPN was wholly owned by Linton, the shareholding structure ultimately had no effect on him personally.

---

On Monday, November 13th, accompanied by a legal team and representatives from Panasonic Electronics, Linton arrived at 100 Universal Plaza, the headquarters of Universal Pictures, to officially take over Universal Group.

At that moment, over 20 directors of Universal Group and general managers of its subsidiaries stood solemnly outside the building, anxiously awaiting the arrival of their new boss. A swarm of media reporters and paparazzi surrounded the area to witness the historic moment.

When Linton stepped out of the car, Lou Wasserman led the group in hurriedly greeting him and introduced everyone present to Linton.

After a brief greeting, everyone proceeded to the meeting room on the eighth floor. Lou Wasserman arranged for the media to be cleared out -- this upcoming meeting was clearly off-limits to the press.

First, under the supervision of their lawyers, representatives from Panasonic Electronics formally handed over the company to Linton, then promptly left.

...

Instead of calling a general meeting, Linton sent for a series of private meetings with the attending leaders, starting with Lou Wasserman. Each leader was summoned to a private conference room one by one.

The process was the same for each: upon entering the room, Linton used his Soul Induction ability and said, "You have 20 minutes to confess all your improper earnings over the past two years within Universal Group -- including any embezzlement, corruption, self-enrichment, or other misconduct -- every detail, large or small."

As the leaders spoke, Linton meticulously recorded every word, compiling individual files documenting their "illegal activities."

This unconventional way of taking command stunned the executives, but more than anything, it left them uneasy and anxious. The new boss played by no traditional rules, and they could only wait quietly in the main conference room without protest.

The strangest thing was that after each interview, the leaders came out looking completely bewildered, unable to recall what had been said during their meeting with Linton.

The entire process took seven hours. By the end of the day, just before the workday was over, everyone had completed their individual meetings.

...

Linton stared at the twenty-one folders filled with records of illicit dealings, an inexplicable anger boiling within him. He also felt a deep sadness on behalf of Panasonic Electronics.

Not a single executive was clean; all were thoroughly corrupt -- nothing but parasites preying shamelessly on Universal Group. The worst offenders were CEO Lou Wasserman and Head of Production Roman Garrett. Each had illegally profited over $50 million in the last two years through crude and brazen methods, without even bothering to conceal their actions.

Others were not far behind. None had illegal earnings below $5 million over the same period, a true testament to collective corruption and conspiracy within the company leadership.

The only slightly redeeming figure was Daniel, president of Universal Records. His illicit income stemmed mainly from Sunlight Records.

He had leveraged his authority to grant Sunlight Records special treatment, securing them a revenue share above market rates and providing promotional resources beyond their contract. Fortunately, Sunlight nurtured a superstar -- Shania Twain -- bringing decent returns to Universal.

Under Linton's Soul Induction, Daniel revealed all his secrets. He secretly held an 80% stake in Sunlight Records and had profited over $100 million in the past two years, with at least $20 million attributed to preferential treatment granted through his influence.

Thankfully, Daniel had acted wisely -- he had renegotiated the contract with Sunlight last month to align everything with market standards.

He often assisted other executives with distribution resources and advertising collaborations but remained within personal ethical boundaries, refusing to take part in direct profiteering. He had integrated himself into the corrupt group, but his conduct within projects stayed relatively clean.

Another surprising case was Leviett, Director of Distribution. Linton had initially considered him a prime target for removal.

Though Leviett had indeed received over $5 million in illegal gains over two years -- a hefty sum -- his was the smallest amount on the list, despite holding considerable power.

His main issue was similar to Daniel's: his wife owned shares in several companies connected to Universal's industry. Whenever opportunities or challenges arose, he used his influence to negotiate advantageous arrangements.

For instance, when Linton first approached him to distribute the movie Step Up, Leviett offered the most favorable terms, then coordinated with Daniel to get even better promotional resources for the company his wife had stakes in.

Leviett distinguished himself by maintaining certain limits; though complicit in the corruption, he avoided tampering with projects.

Daniel and Leviett's behavior would have been unforgivable in any ordinary company, but in Universal's current environment, they were practically model employees.

They also demonstrated strong professional skills, both being rare talents in their fields. Linton decided to give them a chance to prove themselves, albeit after administering some stern warnings.

Without delay, he called for a follow-up meeting.

---

After having his assistants, Mena and Xiaoran, make copies of all the files, Linton entered the meeting room with the packets in hand. He called each executive by name and asked them to collect their own "illegal conduct" files. Only Daniel and Leviett did not receive any.

Just as they feared the worst, Linton's chilling words echoed in their ears.

"Everyone has received your files. Take a good look at what you've done over the past two years at Universal. Based on your actions, any one of you could easily be sent to prison.

But these were all committed before I took over. I am willing to give you an opportunity: if you submit your resignations now, I will forgive everything. Otherwise, don't blame me for handing your files over to the police and prosecutors.

You have ten minutes to decide. The clock starts now."

Daniel and Leviett, who had just been anxious, now felt as if they were walking on air.

The other executives stared coldly at the files documenting their illicit exploits. Their hearts sank, and their spirits plummeted to the depths of despair.

*****

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