iWorld
VIVO IPL 2018 player auction clocks 5X viewership
As VIVO IPL 2018 fever gathers momentum, the player auction for the season witnessed record viewership numbers on Hotstar, India’s largest premium streaming platform. The highly anticipated event – a potent mix of famous team owners, and bids for the world’s best loved cricketers – registered record numbers on the platform with a 5X increase in viewership compared to the previous season.
While IPL has grown each year since its inception, 2018 promises to be an inflection point in its history as Hotstar and Star Sports reimagine it into a 6-month extravaganza, with technology at the heart of the experience.
With the intent to be the singular destination for all things IPL, Hotstar also today announced plans to roll out the fastest cricket scorecard in the country – with load time under 0.5 seconds. The new scorecard unit will be available to all Hotstar users when they open the app.
The seemingly simple feature packs in complex coding under the hood to provide the live score, with zero lag, to over 250 million varied devices across the country. With the fastest load time compared to any other cricket score feed, the feature is designed to minimize friction for the user, completely eliminating the need to search for the score anywhere else. The feature will be rolled out with the first Vivo IPL match on 6 April 2018.
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.
