iWorld
Hungama expands footprint in digital content space
MUMBAI: Hungama has expanded its footprint in the digital original space with the launch of its new Hindi show Bar Code. The new drama has been produced by Abhishek Pathak under the banner of Panaroma Studios. From 10 October, the show is available on its video on demand service Hungama Play.
“Hungama originals have helped us present stories that are different from those offered by the conventional medium, this narratives have widespread appeal and are appreciated by digital audiences globally. With Bar Code, we explore universally identified themes like friendship, ego, love and rivalry. We are certain that a strong content line-up and a robust worldwide distribution strategy will help us increase our user base on Hungama Play significantly,” Hungama Digital Media COO Siddhartha Roy said.
To reach the audience base, the company will leverage its distribution strengths. The new show will also be available to stream through Hungama Play on Vodafone Play, Idea Movies & TV, Amazon Fire TV Stick and other Android TVs along with Mi Video and Mi TV.
Though the company has dabbled with online music and short-form video content for a long time, it has jumped into the long-form video content bandwagon recently. In the first half of this year, the company announced four web series among which three have been released. Recently, the company also ventured into original in regional languages. It will soon roll out shows in several regional languages across genres.
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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.
