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Netflix: DreamWorks’ Cobb to lead kids, family content team, deal with Orange renewed
MUMBAI: Two significant developments have taken place at Netflix, a leading internet entertainment service with 104 million members in over 190 countries, including India, enjoying over 125 million hours of TV shows and movies per day, including originals.
Orange and Netflix have inked a major agreement and Melissa Cobb will lead Netflix kids and family content team.
Orange, one of the leading telcos with sales of 40,9 billion euros in 2016, and Netflix have renewed the agreement signed in 2014 for the distribution of Netflix for Orange TV customers in France, and have expanded their partnership to all countries in which the Orange Group is present.
This strategic partnership will enable the Group’s subsidiaries in Europe, Africa and the Middle East to distribute Netflix in the future, bringing their customers exclusive content of this service to all their screens.
Netflix will be offered to Orange Poland customers in the coming months as part of its TV offers. Other launches will follow in 2018.
“We want to offer the best content,” notes Orange CEO Stéphane Richard.
Netflix CEO Reed Hastings said, “This partnership offers the possibility for millions of our customers to enjoy the leading entertainment service seamlessly, in one place.”
Cobb has joined Netflix as vice-president, kids and family, overseeing the creation and acquisition of series and films for children and families. Based in the Los Angeles office, Cobb reports to the chief content officer Ted Sarandos.
In her role, Cobb leads the content team responsible for bringing kids and family titles to Netflix members with an expanded focus on high quality series and event programming across the spectrum of kids and family entertainment, including both animation and live action.
Cobb joins Netflix from DreamWorks, where most recently she was the chief creative officer and head of studio for Oriental DreamWorks. Based in Shanghai, China, she oversaw all aspects of running the studio and U.S./China collaboration including creative oversight of all projects in development and production, business strategy, production strategy and more for a slate of high quality animated feature films targeted to a global audience.
iWorld
Bill Ackman makes a $64bn bid for Universal Music Group
The hedge fund boss wants to list the world’s biggest record label in New York and thinks he knows exactly what ails it
NEW YORK: Bill Ackman wants to buy the world’s biggest record label. Pershing Square Capital Management, the hedge fund run by the billionaire investor, submitted a non-binding proposal on Tuesday to acquire all outstanding shares of Universal Music Group in a business combination transaction worth roughly $64.4 billion (around 55.8 billion euros).
Under the terms of the offer, UMG shareholders would receive 9.4 billion euros in cash, equivalent to 5.05 euros per share, plus 0.77 shares of a newly created company, dubbed New UMG, for each share held. Pershing Square values the total package at 30.40 euros per share, a 78 per cent premium to UMG’s closing price on April 2.
The deal would see UMG merge with Pershing Square SPARC Holdings, with the combined entity incorporating as a Nevada corporation and listing on the New York Stock Exchange. New UMG would publish financial statements under US GAAP and become eligible for S&P 500 index inclusion. Pershing Square says the transaction is expected to close by year-end, with all equity financing backstopped by Ackman’s firm and its affiliates, and all debt financing committed at signing. The transaction would cancel 17 per cent of UMG’s outstanding shares, leaving New UMG with 1.541 billion shares outstanding.
Ackman has a long history with UMG. Pershing Square first bought approximately 10 per cent of the company from Vivendi in the summer of 2021 for around $4 billion, around the time of UMG’s listing on the Euronext Amsterdam exchange. He has since trimmed that position, raising around $1.4 billion from the sale of a 2.7 per cent stake in March 2025, and resigned from UMG’s board in May 2025, citing new executive and board obligations arising from recent investments.
His diagnosis of UMG’s troubles is blunt. The company’s stock has fallen around 33 per cent over the past twelve months on the Euronext Amsterdam exchange, and Ackman lays out six reasons why. These include uncertainty around the Bolloré Group’s 18 per cent stake in the company, the postponement of UMG’s US listing, the underutilisation of UMG’s balance sheet, the absence of a publicly disclosed capital allocation plan and earnings algorithm, a failure to reflect UMG’s 2.7 billion euro stake in Spotify in its valuation, and what Ackman calls suboptimal shareholder investor relations, communications and engagement.
The Bolloré stake has long cast a shadow over the company. Cyrille Bolloré stepped down from UMG’s board in July 2025 as the Bolloré Group battled the French financial markets regulator over its stake in Vivendi, which holds a further capital interest in UMG. UMG had confidentially filed a draft registration statement with the US Securities and Exchange Commission in July 2025 for a proposed secondary listing in America, but put those plans on hold in March 2026, citing market conditions.
Ackman has kind words for UMG’s management, at least. “Since UMG’s listing, Lucian Grainge and the company’s management have done an excellent job nurturing and continuing to build a world-class artist roster and generating strong business performance,” he said. But he made his diagnosis plain: “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction.”
In other words, Ackman believes UMG is a great business trapped inside a broken structure. If the board agrees, he intends to fix that, loudly and in New York.
