While the value of media had not yet been widely recognized by countries worldwide as it would be in later generations, many insightful individuals were already elevating its significance by this point.
Faced with this situation, the establishment of the News Group and the share subscriptions by Robert, Prescott, William, and others were all carried out with extreme discretion. Their utmost goal was to prevent their actions from being discovered by more people.
And they truly succeeded. Registered in the UK, not a single piece of news leaked out, thanks to the joint efforts of countless nobles and Leo.
At the same time, Leo also signed an IPO agreement with Brown Brothers Harriman Investment Bank. However, unlike the high-profile IPO of American Real Estate, all shareholders of the News Group demanded a complete "quiet period" throughout the entire process. Both the earlier inquiries and the subsequent roadshows were conducted on a one-on-one basis. It was not until the final step—entrusting the secondary market for sales right before the listing—that the matter was made public.
Robert once questioned whether this approach would affect the stock price after the listing. Leo's response was:
"Don't worry about us lacking exposure. Don't forget what the News Group does—it is in front of everyone every single moment, and our readers all understand its value. And they will be our best investors in the secondary market."
The mission in the UK was successfully accomplished. Robert had originally planned to hold a grand banquet at his family's castle to see Leo and the others off, but Leo declined, citing the need to remain low-key.
That night, after spending an intimate night with Audrey at the Langham Hotel, Leo left the UK.
On the plane heading back to the United States, William spoke to Leo with profound implication:
"Another super group—the Leo Newspaper Group—is about to go public. In the U.S. business community, you are now infinitely close to those tycoons from the Gilded Age."
Leo looked at William and quickly grasped his meaning. After the Gilded Age, why had no one in the United States ever again emerged to monopolize multiple industries like those tycoons did? Antitrust laws were certainly important, but what truly mattered was the people who pushed for these laws—they had no desire to see new tycoons rise.
These people came from complex backgrounds: founding fathers who had been dethroned by the tycoons, Wall Street financial capital that refused to see industrial capital grow stronger, local gentry in various states influenced by these tycoons, and politicians in the White House and Congress.
William's reminder was well-intentioned. He was advising Leo: "You can't take all the benefits for yourself. Even if you have to suffer losses, for your own safety, you must learn to share."
How could Leo not understand William's meaning? He was willing to compromise on almost everything else, but when it came to media—the ultimate "nuclear weapon"—Leo would never back down. Moreover, benefits given away easily would only make others see him as weak. Expecting to share in the gains without going through a fight was nothing but a pipe dream.
Fortunately, Leo had long prepared a plan for this situation.
Leo smiled and said to William:
"Thank you for your kind reminder. Don't worry, William—their attention will not be focused on the real battlefield. I have already found several alternative targets for them. Take a look at this."
As he spoke, Leo handed a newspaper to William.
William lowered his head and saw the headline:
"Hills Retail Announces the Launch of the ABCED Five-Tier Membership System."
"What is this?" William asked, looking up.
Leo replied:
"This is one of the battlefields!"
At the headquarters of Hills Department Store in New York, Claude Hills, the company's chairman, nodded in satisfaction as he looked at the data presented by Hutton LeBoeuf, the CEO:
"Well done. I have to say, the tactics come up with by this newly wealthy upstart's casual retail venture are actually quite effective."
Hutton nodded while smoking a cigar:
"It's truly a genius idea—using customers' money to open new stores. It really is a genius concept, using customers' funds to expand branches. But the retail industry has long passed the era where a single business patent can quickly build a chain enterprise. Besides, this kind of business strategy isn't even patentable."
"Are they still expanding at such a fast pace lately?" Claude Hills asked.
Hutton shook his head:
"How could they be? With the same membership system, the customer base we at Hills have nurtured over the years is in no way comparable to that new company of his. That said, they are indeed still expanding, just not as rapidly—their number of new store openings has only just caught up with ours."
Hutton's words made Claude frown. He asked:
"If, as you say, almost no new people are signing up for their memberships, then how are they funding their expansion? Do they have a higher profit margin than us?"
"That's impossible. Here at Hills, our profit margin is already second only to Macy's in the retail industry. I suspect that this newly minted billionaire simply can't face failure and is using his own money to put on a brave front. In fact, his own newspaper even reported that he cut short his vacation in the UK and rushed back to the United States because of setbacks in his retail expansion."
Claude took The Newspaper and unconsciously rubbed his fingers across the paper. He then lowered his head to examine the layout—it actually had a sense of design, and the printed text was no longer blurry as it used to be; every character was clear.
He asked in surprise:
"Has The Newspaper been redesigned?"
Hutton pointed to the small line of text below the iconic "The Newspaper" heading at the very top of the front page:
"No, this is a new product under The Newspaper, called The Daily American Tribune. Both its paper quality and layout printing are far superior to The Newspaper. Naturally, its price is also double that of The Newspaper."
"So this is just the tiered membership system applied to the newspaper industry?" Claude said.
Hutton nodded confidently:
"This Italian is indeed a business genius, but he will never be able to shake our position in the retail industry. On the contrary, I'm more worried about Macy's—their profit margin is already higher than ours. If they also implement a tiered membership system, they will definitely have an advantage over us."
In Claude's view, Hutton's worry was merely a minor issue. He waved his hand and said:
"Don't worry. Macy's is different from us. They are a high-end department store, and their refined management model means they can never open new stores on a large scale using customers' membership fees like we do. Of course, this is on the condition that Jack Strauss doesn't do anything foolish."
The Jack Strauss Claude mentioned was the head of Macy's. At that moment, he was on the top floor of Manhattan's Herald Square—the largest single-store retail space in the United States. He had just furiously scolded an executive who had submitted an expansion plan and thrown him out.
Still seething with anger, he answered a phone call that had been ringing for a long time. He snapped irritably:
"Who is this? This is Strauss speaking!"
However, the voice coming through the phone surprised him—it belonged to none other than Mr. Leo Valentino, the man his executive had just mentioned, who had created the tiered membership system.
The other party's voice was very friendly:
"I have a business proposal. I wonder if you'd be interested, Mr. Strauss?"
To be honest, Jack Strauss had no interest at all in a business offer from such a young and ambitious figure/tycoon in the retail industry. Although he himself came from a wealthy New York family and was a Harvard graduate, in the face of a super-rich magnate like Leo who wielded power in both political and business circles, a local gentleman like him had no right to refuse.
On the first floor of Macy's, Jack had specifically set aside a large space next to the main entrance to open Macy's Café Bistro. The purpose was to provide a place for tired shoppers to rest.
Jack ran all the way here, too impatient to wait for the staff to open the door for their boss—he pulled the door open and rushed in.
He looked around, but the café was quite crowded, and his eyesight was not good. For a moment, he couldn't see where his target was.
He grabbed a staff member and said:
"Where is the young man who just made the phone call sitting?"
It was the afternoon, and the café was filled with the sunlight of four o'clock. Guided by the staff, Jack finally saw Leo waiting in a corner.
The staff member might not have recognized Leo and thought he was just an ordinary young man, but as someone in the business world, Jack immediately identified his identity. This was indeed Leo Valentino—the real estate tycoon who had been making waves across the United States recently.
To be honest, Jack was a little shocked. What kind of efficiency was this? Wasn't he worried that I might not be here?
But the moment he sat down, Leo's words solved his confusion.
"I have many friends, and it just so happens that someone told me you're handling company business today," Leo said calmly, taking a sip of his coffee.
Jack had no desire to listen to this explanation at all, because it made him feel uncomfortable—as if he had no secrets at all in front of Leo.
Is this what a top-tier tycoon is like?
A sense of insecurity surrounded Jack. At the same time, even before the negotiation began, he could feel the negotiation style of this young billionaire: his words were gentle, but his tone was full of aggressiveness. This was an extremely dominant man!
"Mr. Valentino, what exactly is the business proposal you want to discuss with me?" Jack asked, forcing himself to be brave. He had a premonition that he might not be able to accept whatever business the other party was proposing.
"An acquisition, Jack. Name your price," Leo said.
Jack thought to himself, "Just as I expected." But he had no intention of selling the company at all. Having watched his father and other elders run the retail business since he was a child, he had always felt that he was born for the retail industry.
And he had good reason to think so. Under his leadership, describing Macy's as "thriving" was an understatement—it would be more accurate to say it was "advancing by leaps and bounds."
If Mr. Valentino was a celebrity across the United States, then Jack himself was a prominent figure in the retail industry.
In 1924, just three years after he joined the company, he planned and organized Macy's "Black Friday" parade in the name of celebrating Thanksgiving. This event completely changed the retail industry's understanding of business at that time, and in recent years, "Black Friday" had even been praised in newspapers as a symbol of American free culture.
In 1932, he took the lead in introducing colored bath towels, which completely transformed the bathroom products market. At the same time, he braved criticism to introduce products that were considered very avant-garde by people at that time—tea bags, roasted potatoes, and other time-saving semi-finished goods. As soon as they were launched, they sold out quickly.
Also that year, to attract more customers, Macy's launched an installment credit shopping method. Anyone who had spent over a hundred dollars at Macy's could enjoy this credit payment option by presenting proof of employment.
Jack could confidently say that just as the Italian mafia had its godfathers, he was the "godfather of retail." Department stores in other cities across the United States all bore traces of Macy's influence to one degree or another.
"I'm sorry, Mr. Valentino, but I have no intention of selling the company," Jack said.
Of course, besides his reluctance to let go of the retail industry, there was a more important reason: over the twenty years he had run Macy's, the company had opened branches in major cities all across the United States.
Although Macy's was not a public company and was fully owned by the Strauss family—so the outside world had no idea how much it was worth—as the leader, Jack knew well that Macy's was worth at least $100 million at that time.
Everyone said that this young man in front of him was a real estate tycoon, but Jack was no novice in the business world. He knew very well that real estate was a capital-intensive industry. Although these tycoons all had impressive net worths, the actual amount of cash they held was far less than that of a retail magnate like himself. At the very least, many of his friends in New York's real estate industry often came to him to borrow money when they couldn't afford to repay their loans.
Jack didn't think Leo could come up with much money. He was already quickly figuring out how to refuse—he, Jack, would never sell Macy's, no matter what.
"$90 million for 60% of Macy's shares. And you, Jack, will still remain the leader of Macy's. As you know, I'm very busy—I won't get involved in the specific management of Macy's; I will only put forward some suggestions. And if you think my suggestions are unreasonable, you don't have to implement them," Leo said.
Leo's words made Jack put down the coffee cup he had just picked up. He took a long breath, but still couldn't calm his pounding heart. Damn it— the offer was too good, and he was tempted.
Leo's offer directly valued Macy's at $150 million. Moreover, he was allowed to retain his position as executive chairman, and he could still participate in the management of Macy's. As for Leo's statement that he could ignore his suggestions, Jack had been in the business world long enough to know that such words were just for show; taking them seriously would be truly foolish.
At this moment, Jack felt as if there were an angel and a devil in his mind.
The angel said he should stay true to his original aspiration and not sell the company.
The devil said, "Even if you sell, you will still be the second-largest shareholder. And as long as the company doesn't go public, no one can shake your position. This is $90 million! With this money, plus your family's existing wealth, the dream of your family becoming billionaires for generations will come true in your hands. What's more, this is the United States. With such a large amount of cash flow, as long as you manage your assets well, your family will expand beyond New York State and become an influential family in the United States. At that time, you will be the greatest person in the Strauss family."
Watching the torn Jack, Leo sat up straight, leaned closer to him, and said in a low voice:
"Jack, there's no rush—you can take your time to think. But allow me to make a prediction: after I leave, a lobbyist in a dark suit will come to find you. If you're still sitting here, he will come directly to this café. But I don't recommend that, because then you will think he was sent by me. You can go back to your office, and someone will call you and ask you to meet this person. But I don't know who will be making that call. In any case, it will be someone who is likely to influence your judgment.
"This lobbyist will try to persuade you to reject my acquisition and will incite you to start a business war against me. He may say that many people will support you. But you can ask him who those people are. Trust me, his answer will be very vague. Apart from the person who called you, he won't reveal even one more name.
"Of course, I can tell you who they are right now."
Leo paused, looked at Jack's questioning eyes, and said confidently:
"They are all the losers who have been waiting for me to fail! For three years, ever since I left that small town, they have been doing everything they can to stop me. Yet here I am today, talking to you about an acquisition.
"So, Jack, when that time comes, think carefully: do you want to join the winner and enjoy victory and greater wealth, or join the losers and become a pawn for those fools who are trying to stop a chariot with their bare arms?"
"I can choose not to choose," Jack said.
Leo looked down at him with pity and said:
"From the moment I entered the retail industry, from the moment you met me—you no longer have the right to choose not to choose."
Seeing the look in Jack's eyes, as if Leo were making up a story, Leo stood up and smiled:
"Facts speak louder than words. At the same time, you need to understand: if I wanted to acquire your company, I wouldn't need to set up such a stupid scheme."
After speaking, Leo glanced at the man in the dark suit who had been casting sidelong glances at him the entire time.
My enemies are still so stupid—they always forget that I used to be a top scout.
Leo patted Jack on the shoulder and walked out of Macy's Café Bistro.
Watching Leo's car drive away, to be honest, Jack thought Leo had too vivid an imagination. He shook his head and stood up—only to see the man in the dark suit at a nearby table looking at him and standing up as well.
Leo's words instantly popped into Jack's mind. He didn't wait for that man to come over; he hurried back to his office.
Just as Leo had said, a billionaire wouldn't need to use such tactics. He decided to wait and see if a call would really come.
The moment he sat down and his hand touched the documents on his desk, the phone rang. To be honest, Jack was shocked.
"That will be someone who is likely to influence your judgment."
Leo's words echoed in his mind as the phone rang.
Jack answered the call half-believingly. He wanted to see who could possibly influence his judgment.
"Hello, Strauss? This is Dewey," the voice on the other end said.
Their conversation was short. After hanging up the phone, Jack's admiration for Leo reached a new level. The Governor of New York—a top political heavyweight and the Republican candidate in the recent election—was someone the Strauss family could never afford to offend.
Knock, knock, knock. There was a knock on the door. The secretary walked in and said,
"Sir, there's a Mr. George South who wants to see you. He doesn't have an appointment, but he says you'll definitely want to meet him."
Even before meeting this man, the arrogant confidence he exuded, along with the condescending, commanding tone Dewey had used just now, made Jack feel displeased. This was exactly the style of the "losers" Leo had mentioned—a stark contrast to Leo's willingness to personally meet for business talks in the small café downstairs.
The man named George South walked in. After a brief greeting, he cut straight to the point:
"Mr. Strauss, I wonder if Mr. Leo just came to talk to you about acquiring Macy's?"
Jack frowned and replied,
"That's a business secret. I don't have to tell you."
"I advise you to reject him, because it will only do you great harm and no real good," the lobbyist said, ignoring Jack's words entirely, his calm tone carrying a hint of condescension as if he were giving instructions.
"Are you telling me how to do my job?" Jack said, annoyed.
"No, no, no, Mr. Strauss. I'm just telling you a fact—many people don't want you to join Valentino's camp. If you do, you'll become their enemy. Trust me, the Strauss family is not worthy of being their enemy," the lobbyist said.
"Who are 'they'?" Jack asked.
"You have no right to know unless you reject Valentino. All I can say is that Governor Dewey is one of them. Think about your retail dream again—with everyone's support, defeating Valentino is not impossible. When that happens, you'll gain the friendship of many people, and you'll become a true VIP," the lobbyist said.
His words left Jack in a daze. It was as if he were back in the café just now, with the sun shining down, and Leo saying to him:
"He will definitely say that many people will support you. But you can ask him who those people are—trust me, his answer will be very vague. He won't reveal even one more name besides the person who called you."
Every word had come true!
At the same time, Jack remembered Leo's confident words:
"Three years. Ever since I left that small town three years ago, they've been doing everything they can to stop me. Yet here I am today, sitting and talking to you about an acquisition."
Yes. Those so-called "important figures" who seemed unattainable to him, those who the lobbyist claimed could crush him easily—they could only use such underhanded tricks to plot against that young man. What was even more ridiculous was that their schemes were completely transparent in that young man's eyes. No wonder they kept losing. At that moment, Jack made up his mind.
Jack's silence made the lobbyist sitting opposite him break into a smug smile. In his eyes, Jack must have made the "right" choice.
"Mr. Strauss, this is an invitation. Come to Governor Dewey's estate tomorrow—Mr. Dewey will tell you about the support we're offering you. I hope you'll perform well then. Trust me, that Valentino has only gotten this far because of luck. His downfall is already counting down," the lobbyist said.
After speaking, he put down the invitation and walked confidently toward the door. He relished this feeling of bullying others with someone else's authority. So what if Jack was the president of Macy's? He was just a nobody who could be left speechless with a few words.
"Tell the people behind you—I reject this invitation," Jack said.
"Tomorrow night at eight... Wait, Mr. Strauss, what did you say?" The lobbyist had thought Jack was asking about the time. He turned around to answer, then realized what had been said, and spoke in disbelief.
"I said I reject it! Now get out of my office, you scumbag!"
At forty years old, Jack had run the company for nearly thirty years. The aura of authority he exuded—even without anger—immediately silenced the harsh words the lobbyist had been about to spit out.
Intimidated by the aura, the lobbyist bluffed,
"You... you'll regret this! I'm telling you, there won't be a Macy's anymore next year!"
With that, he fled the office in a panic.
Soon after, the phone on Jack's desk rang again. Even without answering, Jack knew it must be Governor Dewey again. But having already made his choice, Jack hung up without hesitation. He stood up, walked to the window, and looked down at the bustling crowd of customers in Herald Square. He took a deep breath—this was a matter of life and death for both Macy's and the Strauss family.
Just then, he suddenly saw the annoying lobbyist walking out of Macy's. The man glared angrily at the office on the top floor, then put his hand in his pocket and fumbled for his car keys as he walked toward the car across the street.
Jack's gaze gradually drifted away—he was already thinking about his next move. But his unfocused eyes suddenly fixed on the lobbyist again, because he saw a garbage truck speeding toward the man!
Bang!
The lobbyist's body was hit and sent flying in the middle of the street. Herald Square descended into chaos.
At that moment, Jack was shocked to see that not far from where the crowd was gathering around the lobbyist's body, the door of a Lincoln suddenly opened. Mr. Valentino—whom he had just met—stepped out. His sharp gaze cut through the distance of the floors and the thick glass, directly meeting Jack's eyes.
Jack watched as Valentino took off his hat and gave him a slight smile, then got back in the car and finally drove away.
Hiss!
What had just happened made Jack realize that the upcoming battle would be far more intense than he had imagined. Because with this small act, Mr. Valentino had told him—for him, this was not a battle for survival... it was a battle of life and death!