iWorld
Chingari App announces strategic partnership with Snow Records
Mumbai: Short video app Chingari has entered into a partnership with Snow Records, an independent newly launched music label. As part of the collaboration, Chingari app will promote all new albums to be released by Snow Records.
The association began with promoting “Bismillah 2,” the latest song launched by Snow Records. Sung by Jazim Sharma, the track features Surbhi Jyoti and Rohit Khandelwal. The song was promoted on Chingari app through a contest, influencer meet-and-greet with the star cast and videos shared by the creator community.
Commenting on the development Chingari co-founder and CEO Sumit Ghosh said, “Chingari being a successful start-up itself believes in extending support to and promoting upcoming artists, creators, brands and labels that have the capability of soaring high, given the right opportunity. Snow Records has great potential and talent associated with them. We are very excited to have them on board with us.”
The partnership is aimed at showcasing Chingari’s strength in reaching out to the masses, pan India. Brands can leverage this opportunity to promote their ventures through the app.
“We constantly try to create new trends for our creator community to make entertaining videos on, while enhancing their user experience, as well as encouraging our viewers to spend more time on the app,” stated Chingari co-founder and COO Deepak Salvi. “Associations like these help us in getting onboard such incredible songs like ‘Bismillah 2.’ It can be on our creators’ playlist at any given point of time and help them in creating engaging content. We are looking forward to many such songs that will be launched by Snow Records in the future.”
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.
