iWorld
Netflix India onboards Srivats TS as VP, marketing
Mumbai: Netflix India has brought on board Srivats TS as vice president, marketing. He will lead the marketing team in India and report to Netflix vice president, APAC marketing, Barry Smyth.
Prior to Netflix, Srivats was associated with food delivery platform Swiggy as senior vice president, marketing and consumer experience. He holds strong experience in building brands and businesses across traditional and new-age consumer technology companies.
Commenting on the new appointment, Smyth said, “Srivats is an original thinker and an incredible marketer. As we bring more great stories from India, he will lead marketing to drive conversations and form deeper connections with consumers.”
Srivats started his career with Nokia, where he worked for close to nine years in roles across brand marketing, consumer insights, and key account management. He then joined Swiggy in 2016 as head of marketing. Prior to that, Srivats led digital brand marketing at Quikr.
Speaking on his new role, Srivats said, “Netflix is home to incredible stories and characters that become a part of our lives and conversations. I am excited to be a part of this phenomenal team and find more creative ways to drive engagement with millions of Netflix fans in India.”
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.
