iWorld
‘Bombay Velvet’ song to premiere on Hotstar
MUMBAI: One of the most anticipated releases of Bollywood this year, Anurag Kashyap’s Bombay Velvet starring Ranbir Kapoor and Anushka Sharma, will be premiering one of its song on Star India’s video on demand (VOD) platform hotstar.
In what is seen as a first for cinema anywhere in the world, Fox Star Studios will premiere the song titled ‘Mohabbat Buri Bimari’ on hotstar during the Indian Premier League (IPL).
The song will play out at 7.45 pm on 17 April on hotstar, just before the Pepsi IPL 2015 match between Mumbai Indians and Chennai Super Kings.
With the increasing popularity of the hotstar platform, the song premiere is likely to attract a few million fans and give a dramatic fillip to one of Fox Star Studios’ biggest movie releases of 2015.
With a million downloads in the first six days and nearly 15 million downloads since launch, hotstar has seen one of the fastest adoption of any digital service anywhere in the world.
Fox Star Studios India chief marketing officer Shikha Kapur said, “We are excited about this premier. We believe this innovation will be a trailblazer for Indian cinema and an example of how it can engage with an audience that is young and on a mobile phone. We live in times where the digital doorway is omnipresent and is fast becoming the most effective and astute way to reach out to consumers. Bombay Velvet is a special film. And its song is being launched on a special platform, hotstar.”
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
