iWorld
Bengali OTT platform Mukti Prime to launch on 8 March
Mumbai: Mukti Production LLP is set to launch a new Bengali OTT platform Mukti Prime on 8 March. Interdisciplinary artist Sujoy Prasad Chatterjee will oversee the content on the app, which has been created by Partha Chatterjee.
The app will be available for download on the Google Play Store for Android users and App Store for iOs users. “It will showcase content such as web series, Bengali films, short videos, short films and other original content across genres,” said the statement.
The platform has already announced a slew of Mukti Prime originals including the series “Condom Kelenkari,” “Ganesh Murti,” “Morichika” and “Chittorgarh Murder Case.”
“Mukti Prime is offering subscribers three plans – basic, standard and premium that give access to all its content for a period of 12 months. The basic plan priced at Rs 199 can be accessed using a single device, the standard plan priced at Rs 299 can be accessed by up to three devices and its premium plan at Rs 599 can be accessed by up to six devices,” according to the statement.
India’s regional OTT space is increasing in competitiveness with the share of regional language consumption on OTT platforms expected to cross 50 per cent of time spent by 2025 from 30 per cent in 2019, overtaking Hindi at 45 per cent as per FICCI-EY report. There are more than 45 OTT platforms in the country.
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.
