GGP is Lying; Gravity Is Owned by China Reading (QI)

Discussion in 'Novel General' started by Truck-kun, Aug 3, 2017.

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  1. noob_senpai

    noob_senpai Well-Known Member

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    Yeah, at 51% they are in charge, but I think at 90% there is a threshold, which - in case they choose to go for a merger - makes it pretty much just a formality.
     
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  2. zg44

    zg44 Well-Known Member

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    You basically don't even need that.

    If you want a real-life example of this, look at Disney's 80% ownership of ESPN or Comcast's 70% ownership of Fandango.

    In both cases, Disney and Comcast exert complete control over the subsidiaries and make payouts to the minority owners (Hearst in the case of ESPN owns 20%, and TimeWarner in the case of Fandango owns 30%).

    But they can basically do anything they want with it as long as they're paying the fair share of earnings to the minority owner.

    In this case, Qidian exerts completely control over GT; GGP is just participating in 10% ownership of earnings at the site and managing it at Qidian's whim. He's lost any ability to oppose anything Qidian wants done at GT.
     
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  3. Destinyklien

    Destinyklien Well-Known Member

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    90% isn't need. A merger can go foward provided majority rules "for" the motion.
     
  4. Destinyklien

    Destinyklien Well-Known Member

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    That's an acquisition. If that case, is GT fails and falls into the red, it doesn't affect China Readings at all. A merger means GT becomes part of China Reading, not just being owned by China Readings. The latter means GT will essentially cease to exist
     
  5. noob_senpai

    noob_senpai Well-Known Member

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    Sorry, I am actually running around (as it's 3 in the afternoon and I didn't eat anything today, right now I am waiting for my food to be ready, but it will take quite some time.
    I forgot the term, so I have looked it up: I was talking about a squeeze-out or freeze-out merger, in which case they buy out the rest of the shares too and they do this even if he doesn't want to sell it.
    I think there are differences between countries, but I recall 90% to be mentioned in general. Then again, my memory is not the same as it used to be (and it doesn't help that I'm starving).

    So what I was trying to say is not only can they merge, they can do it without his approval and can force him out too.
     
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  6. zg44

    zg44 Well-Known Member

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    What I meant is that Qidian can operate GT as a subsidiary effectively without any changes. Their ownership stake of 90% grants them that ability. All GGP is entitled to is 10% earnings from GT's operations. If Qidian wants to merge it with something else they can do that as long as GGP's 10% stake is treated fairly.
     
  7. Destinyklien

    Destinyklien Well-Known Member

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    They can, but they'd still need to go through protocol which means an executive board meeting of the shareholders. Managing GT as a subsidiary is different than a merge. For a merge, they don't need ggp's permission/approval but they'd still need to go through the proper channels for a merge to occur.

    Edit : Although I highly doubt a merge with occur between Qidan and Gravity Tales. Gravity Tales is an American company, and if they merge, it'd be subject to monopoly laws (I assume)
     
  8. Mangochic

    Mangochic Well-Known Member

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    Never trust a person calling themselves a 'good' guy/girl its a red flag that they are not. A good person doesn't go around calling themselves good here and there, they let their actions speak for themselves.

    He straight up lied on Monday and misrepresent himself and Gravity Tales but he is now saying it was for the greater good. I wish he would stop pretending to be a white knight and just admit I took the money because I wanted to. I'd have more respect for him he did that.
     
  9. zg44

    zg44 Well-Known Member

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    GT is structured as an LLC partnership probably, so those types of decisions can be streamlined. It's not really that complex when you just have 2 owners.
     
  10. koddychi

    koddychi [RPG slayer] [Great Sage] [Dao of Cuteness]

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    :blobpopcorn::blobpopcorn::blobpopcorn:
    *looks at the current thread*
    *shock*
    Wow the truth is out. Well idc about the ownership of GT as long as the translators/editors dont get fucked up.
    Now let me have the honor to close the drama unfold in this thread.
    *pulls the curtain*
     
  11. 00petar00

    00petar00 Well-Known Member

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    I really wanted to give GGP a chance to explain himself because i didn't want to act like an immature guy and gut him here with other people just because of that leak even though it was a draft it looked pretty believable but i still decided to wait..

    Seems like i was naive but better to be sure, I always knew that something was really wrong with Gravity once translators started leaving, now i know why..

    I wouldn't have held it against him much if QI didn't steal chapters from WW and still host them with ad wall and make money off it.
    Ren always believed in him and tried to calm people down before GGP gives a response.. Just makes him look somewhat naive for believing that GGP is his friend. There's no one in this community that i respect more, You just can't talk badly about Ren and what does he get in return?

    GGP has continued to lie to us with his previous announcement and this one as well, Graviy still completely controlled by him? complete autonomy? a load of bullshit. Qidian was always strong arming translators and always looking for a weak point to exploit. Ren probably didn't want to sell WW to them and they decided to steal novels from him. Can't really believe that a company like that would be generous in any way and actually buy Gravity tales 90% and leave full control to GGP, its actually not possible for them to do that, its not in their nature.

    I would've felt much better if he came out clean with this announcement but as it is full of lies again, can't really have any goodwill towards GGP anymore.
     
  12. Clonetrooper11

    Clonetrooper11 Well-Known Member

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    I told you so. :rolleyes:
    Man, GGP must have been one expensive PR.
     
  13. sctcooper

    sctcooper Well-Known Member

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    Qidian is the grand-daddy pimp of all them gravitytales translator b*tches.
     
  14. Johnnycabra

    Johnnycabra Well-Known Member

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    Holy crap, I just woke up and we Qidian haters were right. This feels fantastic. That means whatever we speculate in the future will likely be true. We should just just bring out the pitch forks from the start.
     
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  15. Clonetrooper11

    Clonetrooper11 Well-Known Member

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    It's funny because even GGP's formal response was filled with lies/illustrated how much he had lied before.
     
  16. Johnnycabra

    Johnnycabra Well-Known Member

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    I tried to believe that the thing with GT and Qidian was a good thing but it did not make sense with the way Qudian does business. Now that it was revealed that the parent company of Qidian owns GT (51% if I read right) it makes sense. I tried telling people that was what businesses do with the whole misdirection and double speak to circumvent the truth, but Qidian lovers were like "your ful of it." Now I don't care what they say as we've been thinking logically, based on Qidians actions and the evidenece that pops out while they just speak what's on their mind without questioning whether it might be possible. All I can say VICTORY!! (but not really as this SH#T is really messed up about GT continously lying)
     
  17. CvkHawk1547

    CvkHawk1547 Well-Known Member

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    It isn't 51% dude but 90% basically QI/China Reading own GT/GGP ass.
     
  18. VixenKiss

    VixenKiss Machiavelli the Princess

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    Yes, as Hawk said, it's 90%. I think GGP only has 10% because of royalties or something.
    Well I mean as I wrote before, although so much evidence isn't 100% proof, it does allow us to make an educated guess, in which case we were right here (and I think all the other times as well? Idk).
     
  19. ultrafunfun

    ultrafunfun Well-Known Member

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    Do you think I am Lupin?...
     
  20. Johnnycabra

    Johnnycabra Well-Known Member

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    That's even worse, damn. That just tells me if anything bad involving Qidian is leaked, the speculations should be taken as truth as it seems they are pretty bad at this whole secrecy of intention thing.
     
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