iWorld
Netflix launches Eyeline Studios in Hyderabad to boost India’s AVGC sector
New VFX hub in Hyderabad to tap local talent and drive global storytelling
HYDERABAD: Netflix has officially opened Eyeline Studios in Hyderabad, signalling a major long-term investment in India’s animation, visual effects, gaming, and comics (AVGC) ecosystem. The 32,000 sq ft facility aims to marry cutting-edge technology with creative flair, making India a key hub in global production pipelines.
The launch event saw Jeff Shapiro, CEO, Eyeline Studios, joined by chief minister of Telangana, Anumula Revanth Reddy, secretary, ministry of information and broadcasting, Sanjay Jaju, and actor-producer Rana Daggubati.
Eyeline Studios Hyderabad is designed to blend advanced visual effects, virtual production, and generative technologies with a collaborative workspace. It becomes the fifth global Eyeline location, alongside Los Angeles, Vancouver, Seoul, and London, linking Indian talent directly to international projects.
Anumula Revanth Reddy said, “Hyderabad and Netflix share a global outlook. This partnership strengthens our creative ecosystem and will create exciting opportunities for local talent to reach the world.”
Sanjay Jaju added, “Entertainment merges technology and storytelling. Hyderabad has the history and the talent. Eyeline’s arrival is a boost for our growing AVGC industry.”
Minister for IT, electronics & communications, industries & commerce, D. Sridhar Babu highlighted the government’s focus on skill-building, saying, “With Eyeline Studios, Hyderabad can become the world capital of storytelling.”
Rana Daggubati reflected, “Hyderabad has come a long way since 2005. Today, with Eyeline here, young artists have a phenomenal future in film and visual storytelling.”
Jeff Shapiro concluded, “India’s creative and technical talent is unmatched. Hyderabad provides the perfect foundation for long-term capability and global storytelling impact.”
The Hyderabad facility is set to hire specialised VFX and AVGC talent, strengthening India’s position on the world stage while offering locals a chance to work on high-end global productions.
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.
