A_nobody
patreon
Chapter 230: A Proposal to Take Over
🕑 Added 2025-01-07 18:58:57 +0000 UTCHearing this, Duke was slightly stunned. He turned to look at Tom Rothman. The CEO of Fox had a serious expression. Clearly, he wasn't joking—no one would joke about something like this. Furthermore, based on his words, it was evident that this wasn't a spur-of-the-moment decision but rather the result of discussions between Fox and Paramount.
Should he take over the reins?
Indeed, Hollywood could move on without anyone, but the Titanic project had already been under James Cameron's control for almost two years. The challenges of someone else taking over now would be immense.
Not to mention the complications that arise when replacing a director at this stage. How long would it take to resolve the inevitable personnel conflicts? Would James Cameron hand things over smoothly? Most of the key department heads were members of his team—should they be replaced? If they were replaced, how long would it take for the new team to adapt? If not, well… that would create chaos on set.
Changing directors during the early stages of pre-production isn't uncommon, but doing so after such a lengthy preparation phase is extremely risky. The new director wouldn't have enough time to prepare. In Duke's opinion, taking over such a project is even harder than starting a new project of similar scale from scratch.
Becoming a "savior" isn't as simple as stepping in, continuing pre-production, and smoothly beginning filming.
"Tom, I have a few questions." Duke didn't refuse outright. "James Cameron's request for additional funding—it must be a substantial amount if it's putting Fox in a difficult position, right?"
Tom Rothman nodded gravely. Duke continued, "Cameron's style is well-known throughout Hollywood. He loves grand spectacles, and so do I. While I don't know the specifics of this project, have you considered that even with me as the director, substantial additional funding might still be necessary?"
"But your previous films," Tom Rothman countered, "have consistently delivered spectacular visuals with highly efficient budgets, and they've all been successful."
"You're ignoring one thing," Duke said, tapping his forehead. "My previous projects were products of extensive thought and planning here. Facing an entirely unfamiliar project, how much money do you think I could realistically save?"
He shook his head. "So, Tom, I don't think I'm the right fit for this."
Seeing Duke's resolute expression, Tom Rothman realized how difficult this matter was. After some thought, he added, "What about the other proposal? Fox delays part of your profit share payment?"
Duke said nothing, putting on an expression of deep contemplation, as if he were truly torn.
"How large is the funding gap?" Duke finally asked.
This project, which even banks refused to fund, had left Fox in a desperate position. Despite pressuring James Cameron, even if they forced him to "jump overboard," the massive investment still needed to be recouped.
After a brief hesitation, Tom Rothman revealed, "Cameron is requesting an additional $30 million! And knowing his style, that number will only grow. Without $50 million, Titanic can't possibly be completed!"
"What's the total investment so far?" Duke asked.
"Fox and Paramount have jointly invested $150 million."
Hearing this figure, Duke gradually made up his mind. "Tom, Fox can temporarily keep my profit share from Saving Private Ryan."
Tom Rothman's expression relaxed slightly. Then he asked, "What are your conditions?"
"You intend to inject these funds into Titanic, correct?"
Seeing Rothman nod, Duke tapped the armrest of the sofa thoughtfully and said with a slight smile, "Let this be Duke Studio's investment in Titanic. How about that?"
He wants to invest in Titanic? Rothman frowned. While Fox's lack of funds was one thing, allowing external funds into their project with Paramount was entirely different.
This raised a host of issues. Duke knew this and didn't expect Rothman to agree immediately. Furthermore, without Paramount's involvement, Rothman, as Fox's CEO, lacked the authority to make such a decision.
"Tom, this is just a suggestion."
Duke still remembered some details about the financial difficulties Titanic faced. Combining this with Rothman's comments, the situation seemed to be replaying itself. "You know better than I do how ambitious Cameron can be. I believe replacing him would be the worst decision. If Duke Studio can join, I can help fill your financial gap."
"I can't give you an answer," Rothman said after a long pause. "Fox and Paramount will need to discuss this."
Duke was merely trying to create an opportunity to get involved with the project. Investment isn't just talk—he needed to confirm certain things before entering negotiations with Fox and Paramount.
By the weekend, Duke arranged to meet Leonardo DiCaprio, using an excuse of visiting the set with its leading actor to fly to Baja California. There, he personally witnessed the chaotic production site and the life-size Titanic model built in an artificial lake. From Leonardo, he also learned that the female lead was British actress Kate Winslet, who had been nominated for Best Supporting Actress at the Oscars for Sense and Sensibility.
Duke vaguely remembered most of the key personnel involved. Moreover, Fox was reportedly being pushed to the brink of bankruptcy, while James Cameron was rumored to be contemplating suicide.
These details helped him make some judgments. Although the future was uncertain, every investment carried risks. There's no such thing as a guaranteed profit. After returning to Los Angeles from Baja California, Duke made up his mind.
Nancy Josephson was once again pushed to the forefront of negotiations, meeting frequently with Fox and Paramount. Paramount, eager to escape the financial black hole, quickly agreed to Duke's involvement. For them, the prolonged two-year pre-production had turned Titanic into a money pit, and they were desperate for a "savior."
Duke conducted extensive research, and the situation resembled what he'd read about before. The two-year-old project had become a laughingstock in Hollywood, with ridicule coming from the media, industry insiders, and even other studios. Some media outlets had even started weekly columns mocking Cameron and Titanic.
Meanwhile, Fox faced enormous difficulties. With declining profit projections and credibility, their negotiations with banks and film funds repeatedly failed. Titanic had already swallowed $150 million, yet production wasn't even close to beginning. No one knew when it would be completed—or if it even could be.
Even the third-party completion guarantor, AIG, was seeking to offload its liability or find someone to share the risk.
In other words, Fox and Cameron were both at turning points.
This was the perfect opportunity to step in. If they survived this phase, Fox might bite the bullet and see it through.
Thanks to Paramount's willingness to cooperate, Nancy quickly reached an agreement with them. After two weeks of grueling negotiations with Fox, James Cameron even returned from Baja California to participate in three-party talks in Los Angeles.
Fox's internal opinions were divided. While Rothman opposed letting Duke Studio participate, the financial director and others under immense pressure supported securing outside funds to avoid a collapse.
As for Cameron, he only cared about having the funds to complete his epic film.
By mid-July, with other funding options exhausted, Fox agreed to let Duke Studio invest. Once the formal agreement was signed, Duke Studio injected $50 million, bringing Titanic's total budget to an unprecedented $200 million.
According to the agreement, Duke Studio held a 25% stake, entitling it to proportional revenue from both domestic and international box office, as well as merchandising. However, the studio held no rights to the film itself.
Compared to investing two years earlier, the shorter funding cycle now seemed more favorable. Most importantly, Duke was no longer strapped for cash.
Though every investment carries risks, Duke was satisfied with the deal. If Titanic followed its original trajectory, a quarter of the profits would be astronomical—not just from the box office!
Duke also agreed to delay receiving the rest of his profit share from Fox, easing their financial strain and earning him goodwill.
After securing the investment, Duke turned his full attention back to filming Chicago. Starting in early April, production had continued for over three months, making it the longest and most challenging shoot of his career. Finally, after 100 arduous days, filming neared completion.
