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Intertrust and Jjadooz announce partnership to deliver virtual reality experiences to indian cinemas
MUMBAI: Intertrust Technologies Corporation, the world’s leading provider of digital rights management and secure content delivery solutions, and Jadooz, a provider of Virtual Reality (VR) content, today announced a partnership to bring the first of its kind VR entertainment to cinemas in mid-size cities across India. Jadooz VR will use Intertrust Kiora™, an all-in-one offline content delivery platform that will bring first-run movies to cinemas to create a novel entertainment destination for movies and gaming.
The creation of industry leaders across the fields of content, technology, virtual reality, and gaming, Jadooz will bridge the entertainment divide across emerging markets. Jadooz is focused on revolutionizing the e-sports, sportainment, and edutainment audience segments.
Bangalore-based Kiora provides a revolutionary software and hardware system combining world-class secure digital rights management with a content distribution architecture designed to distribute content over its own local wi-fi network. Kiora’s secure and open content delivery platform will empower Jadooz to deliver content through the cloud. Providing a seamless content streaming experience with Kiora Freestyle™, viewers will be able to simultaneously stream hours of content at 90 frames per second at a speed of 120Mbps.
“The main inhibiter to VR adoption is poor connectivity,” said Anahita Poonegar, General Manager, India at Intertrust. “Audiences exposed to HD TV quality expect VR content to have close to zero latency. Jadooz has an innovative solution that focuses on ensuring a great user experience for these audiences, and Kiora helps them deliver this novel customer experience.”
Co-Founders, Rahul Nehra and Rajat Ojha added, “Jadooz will transform the way entertainment is consumed across emerging markets and will bring the world of HD-VR-AR-MR within arm’s length of a common man. We are excited about our partnership with a global leader like Intertrust we and look forward to bridging this entertainment divide together.”
Gaming Guru Justin Berenbaum observed, “Jadooz will be the next-door entertainment destination and this game changer will help bring a new world of experience to one and all.”
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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.
