Okay, here is an absolutely brilliant idea. And no, I'm not being sarcastic. According to this blurb at The Hollywood Reporter, News Corp. (NYSE: NWS) is interested in doing a sequel to the classic 1987 film Wall Street.
Some of you younger investors out there might not be familiar with the movie, but perhaps you're familiar with the now-famous quote "Greed, for lack of a better word, is good." It was uttered by the loathsome Gordon Gekko, whose alliterative name almost oozes corporate scandal and villainy. That character was played by Michael Douglas. Wall Street was directed by Oliver Stone and it portrayed the evil side of capitalism, replete with insider trading and share-price manipulation. It's considered a classic, iconic fictional snapshot of the current zeitgeist at the time: the only thing that mattered was upward mobility and accumulation of as much net worth as conceivable without consideration for the little guy. It came out around the time of the '87 market crash, so it had that going for it.
This is why News Corp. needs to fast-track the project. According to this source from May of last year, a sequel to Wall Street was already in the works. Obviously, the fact that The Hollywood Reporter mentioned the project this week means that execs at Fox feel that the timing for a sequel is approaching an optimal point. In fact, they really should try to get it out into the marketplace as quickly as they can, and hopefully with Michael Douglas reprising his role as Gekko (Douglas' return is not set in stone at this point). Not only could the movie gross a decent amount at the box office, but think of the synergy potential here.
News Corp. is fighting a battle with General Electric's (NYSE: GE) CNBC as we speak. The Fox Business Channel wants to take away as many viewers as possible from the stock-market network. Problem is, CNBC is a very powerful brand in its arena. Of course, that doesn't deter the pit bulls at Fox. If you had to describe the media company with only one word, that word would, by necessity, be a hyphenate: ultra-competitive. In fact, Fox Business Channel recently slammed BloggingStocks' own Jim Cramer in a recent promo (see a piece on this subject by Zac Bissonnette).
But, think about how a sequel to Wall Street could be used to promote Fox Business Channel. The property could be featured prominently throughout the movie. There would be no need to mention CNBC at all. All the big guns of the channel could be showcased: Alexis Glick, Neil "We don't need a bailout!" Cavuto, Dagan McDowell, etc. And don't forget, Fox News Channel could also be promoted. Imagine a scene between Bill O'Reilly and Michael Douglas. I have no idea what the sequel is about, but I'd have to presume Gordon Gekko will be responsible for some sort of market meltdown (if it isn't about that, it should be). We all know O'Reilly is pretty steamed these days about losing value in his portfolio and is out to strike fear in the hearts of all those greedy people on Wall Street (of course, that's a bit ironic, considering he is making multiple millions of dollars at a time when shareholders of News Corp.'s stock are currently suffering, but I digress). I can see it now: Gekko appears on The O'Reilly Factor and Bill blasts him out. Gekko, naturally, would have to come back at him in some suave, sophisticated manner that derails his verbal attack. I'm sure Bill wouldn't mind.
Honestly, I think Rupert Murdoch's business empire, which includes The Wall Street Journal (the paper could also appear in the project, I should point out), would benefit greatly from a Wall Street sequel. The product-placement angle is too great to ignore. And when the movie comes out, the synergy could be reciprocated. Fox Business Channel would pump the film endlessly. And I'd love to see Murdoch and Douglas (again, his involvement is not guaranteed) ring the closing bell at The New York Stock Exchange on the eve of the film's release! You have to wonder: would CNBC want to air something like that?
Disclosure: I own GE; positions can change at any time.
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Reader Comments (Page 1 of 1)
10-15-2008 @ 10:24AM
Dan Barnett said...
You're forgetting Fox's Republican bias. It wouldn't be a movie about greedy Wall Streeters, it'd need to be a movie about greedy Democrats trying to force upright bankers into making lousy (but lucrative) loans to poor (black) people. The hero (Bill O.? George Bush will be free soon?) races to the rescue & (cue music) IT'S MORNING IN AMERICA.