“Cleo,” said Stuart, “CleoWorld might be the right entity to pick up this asset. If it’s in Chapter Eleven, why not? It’s going to go at a fire-sale value, and you’re savvy enough, smart enough, with the deep pockets to turn it around.”
I sighed.
“Stuart, you know I can’t make decisions without any data or back-up. Get me some analyses and we’ll take a look at the deal. Hustler might be too far gone for any possibility of resuscitation. If their customer base has already scattered, we’d have to win them back and that would discount the purchase price.”
I could tell Stewie was impressed by my analysis. Who says you have to go to college to have real smarts? I’d been scrappy and worked my ass off and it had made me into a millionaire many times over.
“Alright, I’ll get Ben started on the valuation,” replied my attorney, referring to my investment banker. “But get ready for the auction to go hard and fast soon. This property isn’t going to stay on the block long.”
I paused for a moment. I wished Drake was here to help me do this analysis. As the CEO of News Enterprises, he’d know exactly how to guide me, how to evaluate a potential acquisition. But those days were gone now, and I scolded myself mentally. I hadn’t seen Daddy in four years! It was no use, and I clamped down internally, willing myself to shoulder on.
So it hasn’t all been rainbows and unicorns. I miss my Daddy … but I’ve become my own woman, with my own life.
CHAPTER FIFTEEN
Drake
As the chairman of News Enterprises, it’s my business to be aware of all the goings-on in the publishing industry. The news of Hustler’s demise was surprising, but not altogether unexpected. A traditional glossy just can’t get the same advertising dollars as before, not when they’re competing with a range of on-line sites, advertising live feeds, and worst of all, ever more start-up publications, all hoping to get a slice of the adult content industry.
And News Enterprises is a conglomerate overseeing a number of diverse publications ranging from business newspapers like World One, World Global and World Catch to smutty pubs like Yawker and Cumming. So we know what’s happening in all facets of the industry and had some space in our adult content line-up. Oh yeah, Yawker and Cumming outsell our other pubs three-to-one, porn and sex are real attention grabbers, the mark-up huge coupled with low production costs.
And we’ve got our finger on the pulse of the trade. Take for example, my number two. Lewis was in my office last week discussing Hustler’s impending bankruptcy auction. That’s right, they were selling off the magazine like an animal at market, finding a bidder through good old fashioned cattle calling.
“Drake, this could be a great opportunity to pick up a distressed asset,” he said. “Our finance guys have combed through the numbers and there’s hidden value there.”
“How so?” I remarked.
“Evidently, the magazine’s got a strong subscriber base of men in the 30-55 demographic, exactly who we want to hit. There’s some fat in staffing but that’s easy to cut after a potential acquisition.”
It was true, the 30-55 male demographic was highly sought after by advertisers and perhaps we could do some cross-marketing, grabbing eyeballs for our other male-oriented publications. Even if we kept Hustler going for only a year or two, that might be enough to steer customers to other trade glossies, acting as tastemaker and big brother in one.
I grunted.
“Alright, get me some numbers and we’ll attend the auction,” I said. It was a strategic decision more than anything. Even if we had no intention of seriously bidding for Hustler, it was good to press the flesh, scope out the competition, show your face when all the other players in town were at the races.
But admittedly, I had an ulterior motive. Would Cleo be there? It sounds crazy, but it was a real possibility. I’ve followed my little step all these years, watching her from afar, tracking her every move while reminding myself again and again that she was no longer interested, that she’d run off without any notice for a career on stage, leaving me with nothing.
And somehow my little step has morphed from run-of-the-mill stripper into adult entertainment magnate. I’d been stunned watching the transformation. First up had been the branded sex toys. I guess I shouldn’t have been surprised, after all she was an erotic dancer and guys would buy that shit up. So when she made her first million selling CleoWorld latex pussies, I’d had a good chuckle, throwing the catalogue onto my desk with a snort. Okay, I admit, I ordered one as well, using it in my shower in the mornings, dreaming of my luscious girl.