iWorld
Kuku FM and Penguin India launch 15 exclusive Hindi audiobooks
MUMBAI: Kuku FM has joined hands with publishing giant Penguin Random House India (PRHI) to launch 15 exclusive Hindi audiobooks adapted from Penguin’s bestselling titles.
This partnership not only expands both brands’ storytelling universe but also caters to India’s booming demand for regional audio content. With digital audio consumption skyrocketing, the collaboration brings a treasure trove of literary works to life in a more immersive and accessible format.
The curated collection includes works by some of India’s most celebrated voices Gaur Gopal Das, Devdutt Pattanaik, Harish Bhat, Indra Nooyi, Raghuram Rajan, Ankur Warikoo, and Neena Gupta, among others. These audiobooks, produced and adapted by Kuku FM, promise high-quality narration, cultural resonance, and a deeply engaging listener experience.
“Our customers have higher expectations from us every day, and at Kuku FM, we love rising to that challenge. They know what they want and need plenty of choices. We aim to bring the best books to them in their language and give them a unique yet engaging listening experience,” said Kuku FM CEO & co-founder Lal Chand Bisu.
“We are excited to partner with an iconic publisher like Penguin to not only expand our library but also ensure that we’re opening up a whole new world of entertainment and knowledge for every Indian in more accessible formats.”
Titles will be available on the Kuku FM Android app from April 2025, priced from Rs 175 making bestselling reads more affordable than ever in audio format.
PRH India vice president & product Vijesh Kumar added, “At Penguin, we are committed to making books more accessible and inclusive, ensuring they reach readers in the formats they love. Our exclusive partnership with Kuku FM marks an exciting milestone as we bring some of our most celebrated titles to Hindi audiobooks for the first time. With storytelling evolving beyond the page, audiobooks offer a dynamic and immersive way to experience books welcoming both avid readers and new audiences alike.”
The collaboration aligns perfectly with the projected growth of India’s OTT audio market expected to hit $1.8 billion by 2025 with over 100 million users.
“The collaboration is a critical extension of Kuku FM’s highly curated portfolio of stories and we are excited to expand this universe further with PRH India who are known to have some of the most storied authors and books in their library,” said Kuku FM head of content acquisition Prerna Vohra.
PRH India manager & audio Vidhi Nangia added, “Audiobooks are seeing tremendous growth globally, and India is no exception, with the market expected to grow over 30 per cent annually. Recognising this shift in how audiences engage with literature, Penguin is thrilled to partner with Kuku FM to introduce 15 Hindi audiobooks by beloved authors such as Bhat, Warikoo, and Nooyi. Kuku FM’s commitment to exceptional curation and production ensures that our cherished works are presented with the utmost quality. This collaboration marks the beginning of a promising journey to make our stories accessible to an even broader audience.”
The exclusive collection of Hindi audiobooks includes Tata Stories by Bhat, Bravehearts of Bharat by Vikram Sampath, and My Life in Full by Nooyi. Listeners can also enjoy Jeevan ke Adbhut Rahasya and Energise Your Mind by Das, along with India’s Most Fearless 1 and India’s Most Fearless 2 by Shiv Aroor and Rahul Singh. The line-up features Mythakon se Vigyan Tak by Gauhar Raza, Jaya and The Book of Ram by Pattanaik, and Breaking the Mould by Rajan and Rohit Lamba. Also included are Make Epic Money and Build an Epic Career by Warikoo, Sach Kahun Toh by Gupta, and Manoj Bajpayee by Piyush Pandey.
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.
