iWorld
Leaving a Job is never easy, Hotstar gives you the best ways to #QuitInStyle
MUMBAI: In a field as exciting and opportunity-abundant as technology, a job that’s mediocre, mundane or downright mechanical just won’t cut it anymore. But, there’s never really an easy way to say goodbye. Is there? With its new #QuitInStyle series, Hotstar, India’s leading premium streaming platform, comes to the rescue with out-of-the-box, innovative, yet brutally honest resignation letters.
Taglined ‘Dare. Don’t Stay There’, the campaign showcases unconventional ways to bid adieu to your existing jobs and join the incredible Hotstar tech team to build the future of online video for the world.
Not all heroes wear capes. In an attempt to save the country, one disgruntled employee at a time, ‘Code Ninja’ dons a superhero persona and breaks free from the shackles of a routine workplace. Whether it’s through the countless work Whatsapp groups, e-mails, or in a blaze of glory, the campaign urges people to always #QuitInStyle.
The creatives strike a chord with the crème de la crème of the tech fraternity and paint a vivid picture of the exhilarating opportunities that await people who join the company. Launched as India’s singular destination for live sports, and a wide collection of movies and shows in 9 languages, Hotstar has registered stupendous growth, skyrocketing from 100 mn to 350 mn downloads in the year 2017 alone. The company is inviting people who dare to be a part of the team that is venturing into territories no video streaming platform has dared to before.
The campaign will run across Hotstar’s social media platyforms till 22nd January 2018. For more information, please visit the microsite: https://tech.hotstar.com/
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.
