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Bloomberg|Quint partners with Penguin Random House India to delve into India’s unique business history
MUMBAI: India’s premier business and financial news brand Bloomberg|Quint in partnership with Penguin Random House India is taking its coverage of India’s business ecosystem back to the beginning with an exclusive six-part show titled ‘Tales of Trade’, edited by management guru Gurcharan Das. Based on a book series by leading academicians and scholars, ‘Tales of Trade’ will have the authors delve into some of the most fascinating stories in the history of Indian business with an episode every week, starting February 24 with Bibek Debroy. Through the series, Bloomberg|Quint will introduce its audience to the startling and delightful ways in which these historical events are relevant to modern-day institutions and has an impact on the practice of doing business in the country today.
The ‘Indian way of doing business’ – with all its infinite cultural, regional, and linguistic variations – is the product of a rich legacy full of adventure, risk, and romance, tempered by Indian principles and values. The series’ 6 episodes will use provide an immersive, in-depth snapshot of India’s business history with an engaging narrative. The episodes will cover the Indian Railways, the East India Company, Managing Agencies, Mumbai’s 19th century merchants, the Marwari community, and the interplay of dharma and business in medieval India. Gurcharan Das will be joined by Bibek Debroy, Tirthankar Roy, Omkar Goswami, Lakshmi Subramanian, Thomas Timberg, and Donald Davis in his explorations of the rich and complex tapestry of India’s economic history.
Commenting on the show, Gurcharan Das said, “Tales of Trade is a six-part documentary series based on Penguin’s ‘Story of Indian Business’ conceived, edited and curated at my end. It is an exciting tale of adventures in the bazaar and the romance on the high seas beginning from ancient times of trade with the Roman world to today’s most successful business communities. The series takes you on exciting journey through conversations with scholars who reveal forgotten fables and rediscovered texts. With a 5000 mile coastline, the tales cover ancient Tamils who carried Indian culture to greater Asia; the caravans of 20,000 camels on the Silk Route who crossed the Hindu Kush mountains to trade with Central Asia and Russia; of risk taking Marwaris who spread across India in the 19th century with the coming of the railways; of the trail blazing merchants who shaped modern Mumbai; of Gujarati merchants from Kachch who traded along the golden triangle of Mandavi, Muscat, and Zanzibar; and of course, the story of the world’s first and most powerful corporation the East India Company.”
Talking about the partnership, Preeti Chaturvedi, AVP- Marketing and Publicity, Penguin Random House India, said “We are constantly looking for ways to make our books more discoverable and accessible to a wider readership. Tales of Trade is a series we are really proud of and we are confident that the partnership with BloombergQuint will help a relevant audience engage with the stories in an exciting format.”
Bloomberg|Quint reaches more than 2 million monthly users across its on-site and partner platforms. More than 50% of Bloomberg|Quint’s audience comprises of C-level executives and entrepreneurs. During Budget 2017, Bloomberg|Quint delivered over 50 million in reach, including 15 million video views and more than 25k shares on social media, ahead of several legacy players in the space. (Source: Google Analytics, Partner & Social Analytics). It was also recently rated as the most viewed business news brand on Facebook amongst new-age publishers. (Source: Vidooly, Facebook Video Report) and has been voted ‘Business Website Of The Year’ (Digipub Awards 2017)
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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.
