iWorld
Winter came early as Westeros rides into town
MUMBAI: Winter didn’t wait for the premiere. It arrived early, with dragons, banners and buzzing fandom, as JioHotstar hosted an exclusive, fan-first screening of HBO’s A Knight of the Seven Kingdoms, giving Indian audiences an early return ticket to Westeros.
More than a conventional preview, the evening was designed as an immersive plunge into the sprawling mythology of the Game of Thrones universe. The venue was transformed with themed installations and interactive zones that echoed the scale, symbolism and drama of George R.R. Martin’s world, turning the screening into an experience rather than just an episode drop.
Adding to the atmosphere was a strong showing from the creator community, with personalities such as Anisha Dixit, Rohan Shah, Kashish Kapoor, Shubhi Joshi, Andre Borges, Aryan Giri, Omkar Palande, Tanmay Jadhav and Shiv Thakare mingling freely with fans. The easy interaction blurred the line between audience and influencer, creating a shared celebration of a franchise that has long thrived on collective fandom.
The event underlined JioHotstar’s growing emphasis on immersive, fan-led storytelling, extending engagement beyond the screen and into real-world experiences that mirror the scale of the content itself.
A Knight of the Seven Kingdoms begins streaming on JioHotstar from 19 January, with new episodes dropping every Monday. The series will be available in English, Hindi, Tamil and Telugu, ensuring Westeros speaks to fans across regions as the saga unfolds once more.
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.
