iWorld
No option but to protect digital IPs today: SonyLIV’s Manish Verma
MUMBAI: The increasing popularity of streaming platforms brings with it the threat of piracy. To tackle this menace, SonyLIV recently chose Intertrust’s cloud-based multi-DRM (digital rights management) service, ExpressPlay DRM, to protect content streaming and downloads, including both online and offline playbacks on all devices.
“We all want to protect content. If the content is available freely, the value of the content goes down. Piracy is one of the key concerns for all of us and we want to make sure that we minimise the piracy. It is one of the key considerations when we talk about content protection,” SonyLIV technology head Manish Verma said.
Verma said that they had been discussing the deal for six-eight months.
“When you are using a DRM, there is a lot of backend processing, packaging, content integration, etc., and we need to make the change across all these. When you get into such a strategic partnership, you need to keep in mind what is available now, what is going to be available in the future, what is the potential of the company and the evolution of the product,” he added.
Intertrust Technologies India strategy and business DVP Manas Mati said that it isn't just about security. As SonyLIV is available across many countries with live sports channels, it is also to ensure that it can give lower latency along with encryption services. As to what makes it different from competitors, Mati said they have better knowledge of content security standards and guidelines, having worked with a lot of large studios in the US with a larger geographical footprint.
“We always work in the future. For example, today we are streaming SD, HD content; we have customers who are streaming 4k content. That means if somebody wants to stream 4k content, we can bring the technology soon to them,” Mati added.
“This (DRM) is not an option anymore. Over a period of time, all the OTT players have started investing in content protection. We have no other option to protect the IP that we are producing and if you don’t do it, you will be at a loss. So it is a necessity to protect premium content and offers seamless buffering across devices,” Verma added.
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.
