iWorld
Panorama Studios partners with One Digital Entertainment to launch ‘Bar Code’ web-series
MUMBAI: Panorama Studios is launching its first web-series titled Bar Code in partnership with One Digital Entertainment. The series will have 10 episodes and will be shot in real nightclubs in Mumbai.
Speaking on the new tie-up, Panorama Studios producer and MD Abhishek Pathak said ”With the current web-series space being heavily cluttered and with most of them being imitations of one another, we at Panorama Studios were on the lookout for something clutter-breaking and something that would stand out, and in Bar Code we found the right script which deals with the fascinating world of Bombay’s nightclubs, making it very exciting for us to to be launching it as the first web-series out of the variety of other web-content being developed at our studio.”
“Bar Code looks closely at what goes on behind the scenes in one of the most glamorous businesses in the world. The plot has an interesting hook, the characters, humor and the drama are very relatable while the whole look and feel will be very upscale and chic. The treatment of the music will have an interesting mix of EDM, Bollywood and Deep House, which should connect with youth segment across the country”, added writer-director Vignesh Shetty.
The casting process is underway and renowned actors are being considered to play the male and female leads. Production will begin in mid-June 2016.
Commenting on the association, One Digital Entertainment COO and co-founder Gurpreet Singh said, “Panorama Studios have delivered amazing stories in the form of bollywood movies so far and now with their entry into web shows, am pretty sure they will set new benchmarks in the industry. We are very delighted to partner with them and are looking forward to engage both the consumers and brands with such an innovative concept.”
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.
