iWorld
PCCW Media launches Now E OTT platform
MUMBAI: Hong Kong-based media company PCCW Media has launched an over the top (OTT) platform Now E that will have several Asian dramas, movies, sports and Hollywood content to offer.
It has partnered with several companies such as HBO, MOViE MOViE, Now Baogu, Viu, etc. The upcoming FIFA World Cup 2018 will also be available for watching. From July, all Hollywood and Asian content would be available on a pay per rent basis.
Users can start downloading later this month from the Google Play Store or Apple App Store. Each user can add up to five devices and watch two streams concurrently. The content can also be viewed on TV via Airplay or Chromcast.
PCCW Media Group managing director Janice Lee said, “PCCW Media is very excited to add a new member to our media service family. Now E means ‘Easy, Entertainment, Everywhere’ which will be a perfect fit for the individual with millennial lifestyle. Today, modern viewers consume more online video than other audiences. They prefer watching online for greater flexibility and demand for personalised content. We are confident that Now E will stand out from the rest as the most preferred OTT service as Now E is a single OTT platform which provides exclusive Asian and international movies, dramas and world-class sports events.”
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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.
