iWorld
Shweta Jain joins Amazon Internet Services
MUMBAI: Former NDTV senior vice president of software solutions Shweta Jain has joined Amazon Internet Services as head of media and entertainment services for South Asia.
Amazon Internet Services is a local legal Indian entity that acts as a reseller for Amazon Web Service (AWS) in the country.
As head of the media and entertainment vertical at AWS India, Jain will work with media organisations helping them initiate/accelerate their cloud adoption for better efficiencies and scalability.
Jain has joined Amazon after a stint of more than 19 years with NDTV, where she worked closely with editorial and production teams.
“Super excited to join the AWSome India team of @Amazon Web Services, to head Media and Entertainment business across India and neighbouring countries. Joining AWS empowers my own belief in the power of cloud and the huge impact it can have on the media enterprises–big and small, traditional and contemporary,” Jain posted on her Linkedin profile.
“After a highly rewarding stint of nearly two decades at NDTV, where I enjoyed teaming up with many remarkably talented people doing some fantastic work, I’m now moving on to my next challenge,” she added.
Apart from her stint at NDTV, Jain was also the founder director of a digital business incubated at NDTV, managing the P&L of a B2B vertical publishing TV listings (EPG) of over 1000 channels to more than 50 platforms in India and abroad. She also founded UREQA, a content discovery and personalised recommendation app for Android.
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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.
