iWorld
Best of SRK movies now available on Netflix
MUMBAI: What happens when the world’s leading internet TV network becomes the new home for one of India’s biggest film star? In one such deal of providing premium quality entertainment, Netflix and Red Chillies Entertainment (RCE) have announced a tie-up. All the new films starring Indian movie superstar Shah Rukh Khan will be exclusively available to more than 86 million members globally on Netlix.
This association marks the beginning of a long-term relationship between both companies and the first of its kind with any Indian film production company.
“Shah Rukh Khan is the most sought-after actor in the Indian film industry, and has played a huge role in bringing Indian cinema to the world stage,” said Netflix chief content officer Ted Sarandos. “His monicker “King Khan” speaks to his status as a cultural icon and to the incredible popularity of his films among audiences worldwide”.
The partnership will also give Netflix members both in India and around the world exclusive subscription video-on-demand access to dozens of RCE films as well as new films that will hit Indian theaters within the next three years.
“Red Chillies is surging ahead in global entertainment and for the first time, our great stories are going global on Netflix all at once and crossing all geographical barriers, waiting to be discovered over the world. No more waiting for our fans wherever they are,” said Khan.
The first title that will come on Netflix is Dear Zindagi which was released theatrically on 25 November. The highly-anticipated film directed by Gauri Shinde stars Shah Rukh Khan and Alia Bhatt.
Among other Red Chillies titles available on Netflix will be box office hits including Happy New Year, Dilwale and Om Shanti Om.
iWorld
Bill Ackman makes a $64bn bid for Universal Music Group
The hedge fund boss wants to list the world’s biggest record label in New York and thinks he knows exactly what ails it
NEW YORK: Bill Ackman wants to buy the world’s biggest record label. Pershing Square Capital Management, the hedge fund run by the billionaire investor, submitted a non-binding proposal on Tuesday to acquire all outstanding shares of Universal Music Group in a business combination transaction worth roughly $64.4 billion (around 55.8 billion euros).
Under the terms of the offer, UMG shareholders would receive 9.4 billion euros in cash, equivalent to 5.05 euros per share, plus 0.77 shares of a newly created company, dubbed New UMG, for each share held. Pershing Square values the total package at 30.40 euros per share, a 78 per cent premium to UMG’s closing price on April 2.
The deal would see UMG merge with Pershing Square SPARC Holdings, with the combined entity incorporating as a Nevada corporation and listing on the New York Stock Exchange. New UMG would publish financial statements under US GAAP and become eligible for S&P 500 index inclusion. Pershing Square says the transaction is expected to close by year-end, with all equity financing backstopped by Ackman’s firm and its affiliates, and all debt financing committed at signing. The transaction would cancel 17 per cent of UMG’s outstanding shares, leaving New UMG with 1.541 billion shares outstanding.
Ackman has a long history with UMG. Pershing Square first bought approximately 10 per cent of the company from Vivendi in the summer of 2021 for around $4 billion, around the time of UMG’s listing on the Euronext Amsterdam exchange. He has since trimmed that position, raising around $1.4 billion from the sale of a 2.7 per cent stake in March 2025, and resigned from UMG’s board in May 2025, citing new executive and board obligations arising from recent investments.
His diagnosis of UMG’s troubles is blunt. The company’s stock has fallen around 33 per cent over the past twelve months on the Euronext Amsterdam exchange, and Ackman lays out six reasons why. These include uncertainty around the Bolloré Group’s 18 per cent stake in the company, the postponement of UMG’s US listing, the underutilisation of UMG’s balance sheet, the absence of a publicly disclosed capital allocation plan and earnings algorithm, a failure to reflect UMG’s 2.7 billion euro stake in Spotify in its valuation, and what Ackman calls suboptimal shareholder investor relations, communications and engagement.
The Bolloré stake has long cast a shadow over the company. Cyrille Bolloré stepped down from UMG’s board in July 2025 as the Bolloré Group battled the French financial markets regulator over its stake in Vivendi, which holds a further capital interest in UMG. UMG had confidentially filed a draft registration statement with the US Securities and Exchange Commission in July 2025 for a proposed secondary listing in America, but put those plans on hold in March 2026, citing market conditions.
Ackman has kind words for UMG’s management, at least. “Since UMG’s listing, Lucian Grainge and the company’s management have done an excellent job nurturing and continuing to build a world-class artist roster and generating strong business performance,” he said. But he made his diagnosis plain: “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction.”
In other words, Ackman believes UMG is a great business trapped inside a broken structure. If the board agrees, he intends to fix that, loudly and in New York.
