iWorld
Lomotif launches #MyFreedomRemix campaign to reminisce pre-Covid normal
Mumbai: As the nation gets ready to celebrate its 75th year of Independence, short-video platform Lomotif has announced its latest campaign called #MyFreedomRemix to reminisce about the freedom during the pre-Covid days!
The campaign is a nationwide initiative that will go on till 18 August and present creators across the country with a chance to recreate their interpretation of what freedom means to them by showcasing the most fun moments in a remix. The users can pick up a song from Lomotif’s playlist to express themselves, the platform said in a statement on Thursday. “All one has to do is to subscribe to the official #MyFreedomRemix channel and post the videos using the hashtag #MyFreedomRemix on the campaign channel in the app and tag @lomotif_india,” it added.
“Through the #MyFreedomRemix campaign, we want to encourage our users to express themselves in unique and creative ways and at the same time they can relive their memories from pre-Covid times,” said Lomotif co-founder & CEO Paul Yang. “The campaign aims to let the audience experience the freedom of dance, music, and creativity with Lomotif. We are all slowly trying to shake off the gloom that was upon the world and moving towards a new normal. This initiative is our way of getting everyone to groove and enjoy every moment of health and happiness. It’s time for all the Lomotif users to interpret their story of freedom with a creative zing,” Yang added.
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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.
