"You need to be prepared."
Liam looked at his old man with confusion etched on his face. Currently, he was at home for Christmas.
With the end of year approaching, Liam came back to visit his family for Christmas. At the moment, Liam and his parents were lounging in the Hall, sharing some eggnog.
"Derek, is this the right time to broach this subject?" Liam's mom asked with reproach clear in her voice.
"Stella, you might feel that this is not the right time. But, I have figured out some things recently. He needs to understand his situation. I want him to be prepared," Liam's father shook his head and sighed.
"What are you talking about, old man?" Liam asked, placing his glass of eggnog on the table.
"There are some things you need to be aware of. Earlier, I thought it was just some minor complaints that I can smother easily, but recently I have learned that your recent rise has made some people restless," Liam's father said in a low tone, with his brows furrowed.
"Oh, is someone targeting me?" Liam asked, arching his eyebrows.
Recently, Liam had always felt that there was more to the matter in regards to the rejection of extra funding he applied for MusixZ TV. And it looked like his suspicion had come true.
"Initially, I thought this issue would pop up only after a couple of years. But, I was confident that you will have established yourself by then. So, I didn't tell you. But, your performance at MusixZ has been phenomenal. It had brought forth the conflict forward," Liam's father sighed, rubbing his brows.
"While our family owns 70% share of Hastings TV Network, we only have 53% of voting rights. While that is a majority, it can't be said to be an overwhelming right to decide things unilaterally in the company. Apart from me, your Uncle Kyle's family has 31% of voting rights and the remaining voting power is shared among the minority shareholders."
"Wait, doesn't Uncle Kyle's family only have 14% of shares? How come he has more voting rights?" Liam asked in confusion.
"Well, this goes back to when the company went public. I wasn't willing to reduce my shares as I was afraid of being ousted from power without majority shares of the company. But, we needed more funds to develop the TV Network. So, your Uncle Kyle voluntarily gave up several of his shares in exchange for increased voting rights."
"I wasn't worried about it at that time since I had 53% of voting rights. So, the true power still rested in my hands. Combined with my contributions to the TV Network, I had an overwhelming voice in the company as well. So, it didn't seem like a big issue."
"I sense there is a but…" Liam said, paying all his attention to what his old man was going to say.
"Indeed. Things were smooth in the initial stages. Both Kyle and I had the same goal. To expand the TV Network and make it a major national TV Network. So, we were able to suppress all the dissenting voices with our combined voting rights. However, things began to change once the TV Network reached a certain level."
"Your Uncle Kyle and I began to have some ideological differences on which path the TV Network needs to take. While we argued sometimes, most of the time we were able to reach a decision that was able to satisfy both of us. In truth, we have always been compromising with each other for years."
"But, a few years back, your Uncle Kyle retired and let his son Damien take over his position. Well, Damien is young. And some of his ideas are too radical. We butted heads often. Unlike your Uncle Kyle, Damien wasn't willing to compromise on a lot of things. So, a rift began to form within the board," Liam's father sighed.
"Damien is neither patient nor accommodating like your Uncle Kyle," Liam's mom chimed in from the side. "He is young, reckless, and full of energy. After he took over his family's business, he has been quite aggressive in his actions and wants to expand the family's influence further regardless of the cost."
"I know, Damien is a prick," Liam snorted.
"Well, you aren't exactly wrong," Liam's mom chuckled.
"Stella! Don't encourage him," Liam's father admonished. "It isn't as if he is any better. He is also reckless and aggressive."
"Hmmph, at least my son shows results," Liam's mom snorted.
"You! Shush!" Liam's father turned towards him with a serious expression on his face. "Liam, do not underestimate Damien. While Damien hasn't shown great results like you did with MusixZ TV, he has been on the board for a few years now. Moreover, he is quite capable when it comes to wooing minority shareholders to his side."
"The only reason he hasn't ousted me yet from the position of President of Hastings TV Network is my influence in the company. He has powerful people who are politically connected backing him. He has been constantly pushing to reduce my power in the company in the last couple of years."
"Why wasn't I aware of this?" Liam asked, as his brows furrowed.
"It was never a serious issue. My prestige in the company has long been established. Even your Uncle Kyle can't do anything to me. How can that little brat do anything? So, that was never a big issue," Liam's father waved his hands complacently.
"No, Damien can't do anything to me. Even he realizes that. The only way he could even try to shake my position was through non performing assets like MusixZ TV. Even then, most members on the board considered it to be a failed expansion direction. Such things are pretty common and didn't have much impact."
"Then, shouldn't the problem be solved now? After all, I have made MusixZ TV turn around in its performance. So, things must be even more easier now, right?" Liam asked in confusion.
"Ah, that's where that little brat's smartness lies," Liam's mom sighed. "Unlike what you are thinking, Damien didn't attack your performance. Rather, he took the opportunity to whisper in the shareholders' ears that your father was getting old and is out of touch with current trends."
"In short, he has raised the question about your father's suitability to run the TV Network as the uncontested decision maker by pinning the underperformance of MusixZ TV to his age issues and incompatibility with current trends. He shifted the focus from your performance to your father's age."
Liam was quite surprised to hear this change in direction. His father was now sporting an ugly look on his face. It was clear that he hadn't considered that Damien would make such a move. Not just his father, even Liam was surprised by the shift.
"It's nothing but a power grab," Liam's mom huffed irritably. "That best knows he can't shake your father's position as the President. So, he used this opportunity to reduce your father's power in the TV Network."
"That's quite… clever," Liam admitted reluctantly.
After all, his father's age was really there. The TV industry inherently shifts as per current trends. Raising the question about someone of his father's age being able to keep up with the current trends was both a smart and cunning tactic.
His father couldn't exactly refute it. The past performance of MusixZ TV only served as proof. So, his father was now cornered. He couldn't wriggle out of this.
The most ironic part was that it was Liam's stellar performance that had put his father in such a bind. If Liam had taken more time to turn things around, then it could have been explained away as Liam's ability. However, such a rapid turn around meant that such excuses couldn't be used. No one was a fool.
In the end, did he just screw over his old man with his performance? If that's the case, then his old man was too pitiful.
"Petty tricks," Liam's mom snorted in dissatisfaction. "If not for your father holding things together, can the TV Network reach such a height?"
"Enough Stella," Liam's father said in a strict tone, causing his mother to huff and turn around. "Liam, I hope you now see the issue. Damien's move is a bit tricky to handle. While my position as the President isn't in jeopardy, it is almost a sure thing that some of my powers will be reduced. Damien will most likely be the beneficiary of this power shift."
Liam nodded in agreement.
"If you have been a bit mature and had a long list of accomplishments, it wouldn't have been an issue. I could have easily transferred some of my responsibilities to your shoulders and kept things in check."
"Unfortunately, your tenure in the company is not long. Moreover, you are still young. I have been using Damien's youth to suppress him to some extent in recent times. By that same logic, you, who are younger than me, will not be the ideal candidate for the power shift in the board's eyes."
Liam scowled hearing that.
"Don't look at me like that," Liam's father huffed. "Do you think I want to relinquish some of my power into an outsider's hands? I am the one who doesn't want such things to happen the most. Hastings TV Network was something that I built from the ground up. It contains all my life's work. Things like power, once shifted to other people's hands, will be hard to get back."
"So, what are we going to do?" Liam asked, massaging his brows.
"Well, what else can I do? I can only be shameless," Liam's father chuckled.
"What?"