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ECOA appoints Shemaroo’s CEO Hiren Gada as its new president
Mumbai: According to a recent announcement made at the 58th annual general meeting of the Entertainment Content Owners Association of India (ECOA), Shemaroo Entertainment’s chief executive officer Hiren Gada has been named as their new president.
In further development, RK Duggal, Ashok Jain, and Narendra Hirawat were onboarded as the association’s next vice president, secretary, and treasurer, respectively.
Speaking on the announcement, Gada said, “It’s an honour to be elected as the president of this prestigious association that has been safeguarding the interests of the entertainment content owners of India. I am grateful to all my colleagues and members of the ECOA for entrusting me with this responsibility. I am excited to collaborate with industry leaders to future-proof content ownership and distribution with the emergence of technology and web 3.0.”
ECOA is a comprehensive apex body dedicated to the causes, growth, promotion, protection, and welfare of all entertainment content owners in India across all genres, languages, and formats.
On 15 October 1963, Lim Billimoria and a few other Indian film exporters formed the Indian Film Exporters Association to promote and facilitate the export of Indian films abroad.
The association represents, protects, and promotes the overall well-being of all Indian entertainment content owners. It is a non-government and non-profit organisation that plays an important role in securing the holder’s various legitimate content rights.
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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.
