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Netflix acquires ‘Audrie & Daisy’ at Sundance
MUMBAI: Netflix has acquired Audrie & Daisy, a documentary film in competition at the Sundance Film Festival. The Netflix Original Documentary will premiere globally on Netflix in 2016.
Directed by award-winning filmmakers Bonni Cohen and Jon Shenk, Audrie & Daisy charts the parallel stories of two teenage girls from opposite sides of the country, both sexually assaulted by boys they considered to be their friends. Harassed online and taunted at school in the wake of their assaults, each girl is driven to attempt suicide.
The critically-acclaimed film examines the teen assault epidemic, the role of social media, and the impact of bullying directly from the perspective of the assailants whose interviews were secured as part of a landmark settlement agreement in their court case. Audrie & Daisy tells the rare story of a handful of girls and their families willing to speak out and fight back.
By highlighting the stories of these girls and their families and friends, Audrie & Daisy brings viewers closer to questions about truth, power, memory and trauma. Addressing a legal system that struggles to prosecute these type of cases and a society that struggles with victims rights, the film explores the pursuit of justice against the backdrop of powerful social media and communities that don’t want to believe this can happen in their own towns.
“From the early days of production on Audrie & Daisy, we dreamed of distribution for the film that could reach millions of teenagers and their families. With Netflix, our dream has come true. We are excited to work with a company that has helped the best documentaries reach the widest possible audience,” said Cohen and Shenk.
“We are inspired by the incredible filmmaking process and storytelling, as well as the great care and integrity Bonni and Jon brought to Audrie’s and Daisy’s stories. This is an important film for boys, girls and their families as a tool to address the complex terrain that teenagers around the world must navigate as they come of age. We are honored to be able to provide a global platform for kids and adults alike to engage with this courageous film and to support a vital conversation,” said Netflix vice president of original documentary programming Lisa Nishimura.
Audrie & Daisy is an AfterImage Public Media production, in association with Impact Partners and Actual Films.
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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.
