iWorld
MyTeam11 launches knowledge-based MyTeam11 Quiz
MUMBAI: Fantasy sports platform MyTeam11, with a user base of over 15 million users, today launched MyTeam11 Quiz, a one-of-a-kind, knowledge-based sports quiz contest for sports fans.
With the addition of MyTeam11 Quiz, the fantasy gaming giant also becomes the first fantasy sports platform in the industry to offer knowledge-based online competition.
MyTeam11 Quiz will be hosted on the MyTeam11 application comprising hourly competitions in a 10-question format on a daily basis, primarily testing a sports lover’s knowledge in various sports. The uniqueness about this quiz would be that winners apart from showcasing their in-depth knowledge in sports would also stand a chance to earn real cash rewards. Old users can access the daily quiz contests on their dashboard while new users can sign in by downloading the application from the website or app store.
MyTeam11 COO-co-founder Sanjit Sihag said: “Our users are ardent sports lovers who have high technical understanding and knowledge about their games. At a time when LIVE sports are suspended globally because of COVID-19, it was important for us to provide them with enough reasons to keep their minds engaged and sports quiz rightfully fits the bill.”
He further added: “Quizzing is a passion for many and I am confident that this will not only interest the ardent fantasy gamers but also attract a large sports-loving audience across the length and breadth of the country who like stimulating their brains using their knowledge in sports. As we progress we will also add other genres to diversify the quiz content and increase the mass appeal of the product.”
MyTeam11 is already the home for six major fantasy sports like cricket, Kabaddi, volleyball, basketball, football and hockey, the latest addition to the bouquet. The launch of MyTeam11 Quiz comes as the second major announcement by the brand after it launched SportsTiger, a multi-sport aggregator in February.
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.
