iWorld
French cinema finds an ally in Hotstar
MUMBAI: Hotstar is saying je t’aime to its new French tie-up. Along with Bonjour India, Star India’s over-the-top (OTT) platform, Hotstar, is giving the country a peek into classic French films. Bonjour India is a festival presented by Cultures France and the French embassy in India.
To celebrate the Indo-French partnership as well as shape the next decade of human exchange between the countries, Bonjour India launched ‘The Experience: A Journey with France’ and the platform 10 Years-10 Films in Mumbai on 14 December.
The third edition of Bonjour India is an extravaganza spanning over four months to celebrate the Indo-French association through hundreds of events across India. It will cover 100 projects in 33 cities across 20 states and union territories from November 2017 to February 2018. The themes for these projects are smart citizen, high mobility and go green.
While reviving a community of French cinema lovers by giving them access to recent French films through various media, 10 Years-10 Films will also facilitate the acquisition of French content by Indian VOD platforms.
Hotstar CEO Ajit Mohan said, “They (Bonjour India) have helped us to choose and arrange 10 films, which are the best of French cinema with English subtitles. Our responsibility is to take them to India’s audience, especially the youth who have not been exposed to these kinds of movies.”
Hotstar will, however, also screen three of the movies in cinema halls to reach a variety of audiences. Attaché for Innovation and Multimedia at French Institute India – French Embassy in India, Pierre Laburthe, handpicked the iconic films, across genres, and pitched it to Hotstar.
Laburthe sees a big market French cinema in India. He said, “We are launching an online festival ‘10 on 10’ because, in the last few years, it has been very difficult to have French films in Indian cinema. We wanted to be online and so we partnered with Hotstar and we have one iconic film for each past decade.”
“People don’t know that we have a common history, so we have created this structure to put it in the public space, where people can discover the relationship through these aspects. We will talk about culture, films, education, science, business and everything in a multidisciplinary event,” he added.
Some of the French films that are available now on Hotstar are Villa Amalia, Tomorrow, 9-Month Stretch, Happiness Never Comes Alone, Sils Maria, A Few Hours of Spring, Of Gods and Men, and Irreplaceable. These films will be seen only on Hotstar as the French embassy has acquired the digital rights only for Star India.
Also Read: Guest Column: How 2018 could become a landmark year for OTT entertainment in India
Hotstar announces partnership with awesomeness
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.
