iWorld
Netflix announces 3 new India originals
MUMBAI: Netflix announced three new India original series, across genres and themes. The three new originals are Leila, Ghoul and Crocodile.
From drama to horror to mystery, these broad and diverse stories, upon completion, will debut exclusively to over 117 million Netflix members in 190 countries. These series join a larger slate of original productions out of India including Sacred Games, Selection Day, and Bard of Blood.
Netflix vice president of international original series Erik Barmack said, “We are proud to continue to invest in original content in India. These three series, from the scary to the supernatural, represent the tremendous diversity that Indian storytelling holds for a global audience. We are thrilled to work with some of the world’s most talented writers and producers to bring these stories to life for India and the world.”
Leila, from writer and executive producer Urmi Juvekar, based on a book by Prayaag Akbar, tells the story of Shalini, a free-thinking woman in search of the daughter she lost upon her arrest 16 years earlier. Set in the near future, this inventive, boundary-breaking story centres around longing, faith and loss.
Ghoul, a horror series based on Arabic folklore, is set in a covert detention centre. Nida, a newly minted interrogator who turned in her own father as an anti-government activist, arrives at the centre to discover that some of the terrorists held there are not of this world. Written and directed by Patrick Graham, and starring Radhika Apte and Manav Kaul, this unique and gripping series, with a supernatural twist, traces Nida’s battle for survival.
Crocodile, written by Binky Mendez, is a young adult murder mystery thriller series set in the seaside state of Goa. When her best friend goes missing, Mira sets out on her own investigation, uncovering secrets among her friends, romantic relationships and community.
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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.
