iWorld
ALT Balaji announces Dhimaner Dinkaal – its first Bengali original
MUMBAI: The clear message that came out of Indiantelevision.com’s second VIDNET was that you have to have exclusive or original programming. And delivering it in India’s regional languages – well that is something OTT players will have to do if they want to get granularity in their traction.
Almost as if taking it as a cue, The Balaji Telefilms promoted ALT Balaji has looked to the east of India while announcing the launch of its second regional show Dhimaner Dinkaal. The language you may have got it by now from the title is Bengali. The digital series has well known Bangla artistes like Saswata Chatterjee, Sreelekha Mitra, Khoraj Mukherjee and Sudipta Banerjee and has Saugata Nandi helming it.
Dhimaner Dinkaal is the story of an ordinary man (Dhiman played by Chatterjee) who lives a life of simplicity away from the madness of technology and internet. The show will explore how his life takes an unexpected turn when he is forced into embracing the new world of technology.
Dhiman is confined to his old habits; he still believes that internet and modern technology are just a farce in third world countries. Dhiman lives in a contrasting world where his wife’s and daughter’s lives are dominated by internet but he prefers to breathe in a space devoid of technology. What happens when he is forced into the digital world? When his life turns upside down because a stranger enters via social media, will he be able to maintain his sanity?
“ALTBalaji is the No 1 repository of exclusive and original digital content in Indian languages today. After launching with 6 Hindi and a Tamil show, we continue our commitment to Indian languages. We are confident that this will be a favourite for Bengalis in and out of India,” says ALT Balaji CEO Nachiket Pantvaidya.
At launch, ALT Balaji had stated that it would be gradually be rolling out 32 originals on its digital OTT service over the next few months. And the introduction of Dhimaner Dinkaal at this time could be the first of many other shows that could be at the entry gate just waiting to be revealed to its four million odd audience that has downloaded the app, say sources. They further indicate that the 15 part Bengali series is quite likely to have a second season and has a budget of about Rs 600,000 per episode.
Subscribers can only expect the slate of show launches to be spurred to a faster clip following the move by the Mukesh Ambani headed Reliance group to pick up a 24.92 per cent stake in Balaji Telefilms for Rs 413.28 crore.
Clearly, the action in the Indian OTT space has only just begun.
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.
