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Netflix Acquires Worldwide Rights to Leena Yadav’s Rajma Chawal
Mumbai/26 September- Leena Yadav and Rishi Kapoor will make their Netflix debut with Rajma Chawal, a light-hearted story about family in the age of social media. Rajma Chawal will be available exclusively on Netflix, worldwide, on November 30, 2018, before which it will premiere at the BFI London Film Festival in October.
Set in the chaotic, vibrant Chandni Chowk area in Delhi, Rajma Chawal captures the relationship between a father attempting to reconnect with his estranged son through social media, a new world for him. The film is an emotional roller-coaster, interspersing grief and the pressure of family expectations with humour, compassion and love. Rishi Kapoor plays the role of Raj Mathur, the father, along with Amyra Dastur, Aparshakti Khurana and Anirudh Tanwar in his debut role as Kabir Mathur, the son.
An internationally acclaimed film-maker, Leena Yadav navigates complex and dynamic family relationships with depth, sensitivity and the ability to find humour in unexpected places. Her first international feature film, Parched, premiered at Toronto International Film Festival in 2015.
Leena Yadav said, “The father-son dynamic is a universal human theme, and Netflix, with its global reach and ability to address a range of audiences with rich and resonant stories, was the ideal partner for us. Being on Netflix invites the whole world into the lives of a family in Chandni Chowk, and we are excited to bring the tumult, colour and vitality of both the family and the area to newer audiences.”
Swati Shetty, Director, International Originals and Acquisitions, Netflix, said, “Rajma Chawal takes the viewer along the highs and lows of of family dynamics, and we hope members around the world will relate to the story and its multi-dimensional characters. Technology and social media are changing human relationships globally, and we’re honoured that the stellar team behind this film chose to partner with Netflix on showing their take on this subject to the world.”
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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.
