iWorld
Monet TV mobile media solution unveiled
MUMBAI: China-based mobile media solutions provider EyeMail Technologies, Inc. (ETI) and the California-based TruVideo, which provides patented technology products and end-to-end services for enabling multimedia on cell phones, have announced the release of Monet TV.
Monet TV brings an exciting new mobile media viewing experience to the handset market. The venture was proposed and introduced by FreeVerse Partners, a Tokyo company as part of ongoing business development on behalf of TruVideo, stated an official release.
“ETI has created a suite of inventions around digital lifestyle,” ETI CEO Gary Zhang said. “Monet is our flagship product which leverages our experience and innovation in mobile media solutions. We are confident that with our partnership with TruVideo, we can bring the best mobile media experience to handset users.”
Monet TV will be launched in Asia beginning with Singapore on Symbian equipped handsets. From there deployment is scheduled throughout Asia and eventually globally. Monet TV will feature exciting embedded video and interactive content combined with a rich user interface designed for intuitive and easy use by the viewers, the release 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.
