iWorld
Floyd Mayweather vs Conor McGregor boxing fight on Indian OTT VEQTA4
NEW DELHI: The much awaited boxing match between the two biggest stars from the world of boxing and Mixed Martial Arts, Floyd Mayweather and Conor McGregor, in Las Vegas can be seen in India on the country’s only dedicated sports OTT service VEQTA.
The OTT has bagged the broadcasting rights for the fight on 27 August at 9:00am (IST). VEQTA is the official broadcaster of the fight in India and will live stream the fight only on its digital platforms VEQTA.in and its Android and IOS Apps. This will be the first global mega sports event to be shown on OTT format in India.
VEQTA in an official statement said today: “India currently has around 220 to 250 million smartphones and is expected to touch more than 500 million by 2020 reported by an industry analyst. So with rising smartphone sales, falling data tariffs, 4G rollout and improvement in payment gateways, OTT market, an important growth driver in India’s digital space, is growing at a dynamic pace of 35-40 % Y-O-Y”.
VEQTA co-founder & director Gaurav Gill, “We will be Live Streaming all the action on VEQTA.in and the VEQTA Android & IOS Apps. Floyd Mayweather vs. Conor McGregor is a matchup that pits the legendary boxer Mayweather against the all-time MMA great McGregor in a one of its kind event.
“As the home of global sports in India, VEQTA’s aim is to bring the best premium sports content to fans from all across the globe. Fight sports is the second biggest sports category in India and has a relatively young audience for whom digital is fast emerging as the first screen. With this event VEQTA aims to reach out to the fans of boxing, mixed martial arts, fight sports and sports fans in general,” he added
Fans in the India will be able to watch the historic fight of the millennium live on VEQTA.in, on 27 August 2017 at 9:00am (IST), and the under-card fights will be broadcast Live on the platform from 6:30 am (IST) onwards. The fights will also be available on the platform for sports fans to view on a video on demand basis after the event.
The event will take place in the T-Mobile Arena on the Las Vegas Strip in Nevada, U.S.A. Las Vegas hosts most of the major boxing championships and UFC fights.
VEQTA will be Live Streaming all the action from the event on its digital platforms. The app can be downloaded and subscribed for Rs. 99 only, to get unlimited access to over 6000 hours of live sports all-round the year.
· Website – https://veqta.in/
· Android – https://play.google.com/store/apps/details?id=com.app.veqta&hl=en
· iOS – https://itunes.apple.com/in/app/veqta/id1044161618?mt=8
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.
