iWorld
Manorama Online revels in the spirit of Onam
Mumbai: It’s reassuring to note that, after a year and a half since the outbreak, humanity has found indigenous ways to circumvent the pandemic and digital has been the confidant in the new normal. Cut to Kerala, the best time of the year is around the corner, Onam.
This year, Onam for Malayalis across the world will be powered by meaningful digital connections. Be it choosing Onakkodi for the loved ones via video shopping, the joy of laying an ‘athapookalam’ (floral carpet) with childhood friends via an e-pookalam offering, enjoying Kathakali with family through a Livestream, preparing a sumptuous Onasadya together through recipe podcasts or through ordering in via food delivery platforms, indulging in Onakalikal through gaming platforms, watching the latest blockbuster in many of the OTT platforms, paying for an Onam Club donation via the payment platforms, Onam comes alive online in more ways than one.
manoramaonline.com catering to 36 million Malayalis, spread across 200 + geographies will be enabling Malayalis across the world to celebrate Onam online through nostalgic reportage, immersive online properties like designing digital pookalam, digital onakalikal (games), and multisensory experiences.
Its latest campaign – ‘Nothing will stop a Malayali from celebrating Onam’ turns the spotlight on the unstoppable Malayali spirit to celebrate Onam in all its fervor yet responsibly. The Local Network, agency of record for manoramaonline.com has conceived and executed this campaign.
“The pandemic has certainly impacted the way we live, work & play, but in Kerala, it has not lowered the spirit of Onam, thanks to festivities taking a virtual turn,” said Manorama Online, general manager, marketing, Boby Paul.
“Onam is a festival we cannot afford to miss, a once a year celebratory band in a Malayali’s life, come what may,” said The Local Network, creative director, Nitin Menon. “Cautious optimism is the need of the hour.”
Kerala, armed with one of the highest internet penetration rates in the country, ranks high in online news consumption and online shopping. This year, Onam is expected to mark the revival of the shopping season in adherence to the protocols by leveraging the seamlessness of digital experiences.
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.
