iWorld
Cricket fever: Mumbai Indians to start streaming on Netflix from march 1, 2019
MUMBAI: Netflix announced today that its unscripted sports docu-series, Cricket Fever: Mumbai Indians will premiere on the streaming service on March 1, 2019. The docu-series will follow the Mumbai Indians on the road through the course of the 2018 IPL season, as they sought to defend their 2017 IPL crown. The docu-series is produced by Condé Nast Entertainment and the executive producers are Al Edgington, Joe LaBracio, Jeremy Finn, Jamie Stewart and James Maby.
The series documents the unseen action, both on and off the field, starting with the 2018 IPL auction, when the entire team was re-organised, and closes with the end of their IPL campaign. It charts the emotional arc of the team, including the intense pressure the team faces with the weight of “Maximum City”, Mumbai’s millions of citizens on their shoulders. The docu-series documents highly personal and never-seen-before journeys of the young and talented team, led by captain Rohit Sharma, owners Nita and Akash Ambani, as well as the brilliance of their coach- Sri Lankan legend, Mahela Jayawardene.
The series launches worldwide exclusively on Netflix on March 1, 2019.
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.
