iWorld
Bloomberg launches 24/7 news network on Twitter
MUMBAI: Bloomberg Media, the consumer-facing media organisation of Bloomberg, has launched the world’s first ever round-the-clock television streaming service on Twitter.
TicToc by Blooomberg officially goes live on Monday and aims to combine Twitter’s global reach and user commentary with Bloomberg’s news-reporting expertise. The new service will be staffed by a team of 50 editors, producers, social media analysts and marketers, most of which are based in New York. The 24-hour news network has got seven sponsors on board including Goldman Sachs, AT&T Business, CA Technologies, CME Group, INFINITI, SAS, and TD Ameritrade and will feature branded native content and unique integrations woven into the video programming, created by Bloomberg in partnership with each sponsor.
The first interaction of TicToc by Bloomberg will feature a mix of live video and reporting from Bloomberg journalists around the world, as well as breaking news content from consumers, curated and verified by Bloomberg editors with a real-time distillation of the related conversation on Twitter, it said in a statement.
“We are seeing a shift in the media landscape today: more content companies are partnering with platforms to create hybrid businesses that better serve consumers and society. With TicToc by Bloomberg, we are fusing the best of Bloomberg and Twitter to build a fast and credible modern news experience,” Bloomberg Media Chief Executive Officer Justin B Smith said.
“Twitter is where people go for breaking news, and now our global audience can turn to TicToc by Bloomberg at any time to see what is happening in the world no matter where they are. Combining the journalistic integrity of Bloomberg with the speed and global availability of Twitter makes this a collaboration we are really excited about,” Twitter Chief Operating Officer Anthony Noto said.
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.
