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Jiostar strikes gold at Gema India with 32 wins across categories
MUMBAI: Jiostar didn’t just shine at this year’s Gema India Awards, it glittered. The entertainment marketing giant bagged an impressive 32 metals, including 15 golds and 17 silvers, making it one of the night’s biggest winners.
The victories cut across every corner of the creative spectrum, from promos and video campaigns to craft, design, social media and branded partnerships. Whether it was MTV Beats’ cheeky Jassi and Rinku promo, the stylish Diwali Diya animations, or the thought-provoking One for Change series, Jiostar proved it could deliver work that entertains, inspires, and breaks the clutter.
Formerly known as Promax, the global entertainment marketing academy of arts & sciences (Gema) has been celebrating cutting-edge TV and streaming marketing for 60 years. Winning at Gema is regarded as one of the highest accolades in entertainment marketing, and Jiostar’s haul cements its reputation as a creative powerhouse.
“These awards underscore the firepower of our teams and JioStar’s leadership in entertainment marketing,” said a Jiostar spokesperson. “It is a strong testament to our ability to set new benchmarks and shape the future of entertainment storytelling.”
From scripting (Showtime: kjo’s biopic) and sound design (Thunder thighs film festival) to bold key visuals (Lootere) and heartfelt social good campaigns, JioStar walked away with recognition across the board.
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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.
