iWorld
Netflix to open its first global post-production facility in Mumbai
KOLKATA: Streaming giant Netflix is all set to open its first live-action, post-production facility in Mumbai. The facility with 40 offline editing rooms for use by showrunners, directors, editors and sound designers, will become fully operational by June 2022.
With innovation and collaboration as the focus, it will pioneer advanced media management workflows to allow a seamless partnership with India’s post-production community, said the streamer.
“Indian audiences love high quality and diverse stories available on-demand to suit their tastes and moods. We saw this last year with an increase in viewing of stories across formats, genres, and languages. Whether it’s our favourite preschool hit series Mighty Little Bheem, International Emmy winning series Delhi Crime, or our beloved films like Guilty, Ludo, Pagglait, and Paava Kadhaigal… it’s been an incredible ride,” Netflix said in a blog post.
The US company has invested Rs 3,000 crores in local programming over 2019 and 2020 to build a universe of Indian stories. In March, it announced a lineup of 41 titles featuring more variety and diversity – from some of the biggest films and series to gripping documentaries and ingenious comedy formats. In 2020, it launched NetFX – a platform that enables multiple Indian artists to work on VFX for titles globally.
Moreover, the company is investing in the latest technologies and skill development through multiple certifications and training workshops in post-production, scriptwriting, and other aspects of creative production.
“We want to continue to contribute to the Indian creative community. Our goal is to keep improving the overall experience for our talent and industry partners and equip them with the best resources to tell authentic stories most engagingly. We are in a golden age of entertainment in India – this is the best time to be a creator and consumer of great stories,” the blog post read
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.
