iWorld
Prasar Bharati’s Waves OTT now on Jio Stores, expanding Indian content access
MUMBAI: In the bustling streets of Mumbai, where skyscrapers narrate tales of ambition, one name consistently towers above the rest—Mukesh Ambani.
The maestro of business expansion has struck again, this time joining forces with Prasar Bharati, India’s cherished custodian of cultural narratives.
In a move that seamlessly blends legacy with technology, the public broadcaster’s OTT platform, Waves, now graces the Jio Store shelves, promising a cinematic journey through India’s heart and heritage.
Imagine the allure: archives of Doordarshan’s golden era, the timeless melodies of All India Radio, and an array of fresh originals—all a tap away for millions of Jio users. This partnership isn’t just about streaming content; it’s a bridge connecting India’s storied past with its digital future, hand-delivered by Ambani’s ever-expanding empire.
Is there a realm Mukesh Ambani doesn’t touch? It seems unlikely, as Jio continues to rewire how India consumes entertainment, one milestone at a time.
Since its launch, Waves has rapidly garnered attention, amassing over one million downloads and positioning itself as a premier destination for Indian audiences. With this collaboration, Waves takes a strategic leap to become accessible across all Jio devices, leveraging the telecom giant’s expansive reach and connectivity.
Imagine how India’s rich cultural tapestry can now reach every corner of the nation? With Waves on Jio Stores.
Waves offers something for everyone:
. Original Content: Explore new fiction and non-fiction programming.
. Legacy Programming: Rediscover classic shows from Doordarshan archives.
. Live Events: Stream real-time happenings from across the nation.
. Gaming and E-Commerce: A unique blend of entertainment and interaction.
. Nostalgia Features: Enjoy photo albums and magazines highlighting India’s heritage.
This diverse lineup ensures that Waves caters to audiences of all ages and preferences. As the platform grows, its popularity underscores a collective demand for authentic Indian storytelling.
Prasar Bharati CEO Gaurav Dwivedi expressed his optimism about this partnership, “We are thrilled to take Waves to the next level by making it available to Jio users. The platform has already received a fantastic response, and with Jio’s vast subscriber base, we are excited to introduce our diverse and compelling content, which includes – Nostalgia, Live Channels, Magazines, Photo Albums, etc., to even more homes.”
A Jio spokesperson added, “We are excited to partner with Prasar Bharati to offer Waves to our users. This partnership offers a wider content offering to audiences at large and ensures that they are able to choose from the best.”
Why does this partnership even matter?
The inclusion of Waves on Jio Stores signifies a blending of modern technology with the cultural essence of India. It underscores Prasar Bharati’s mission to preserve India’s heritage while ensuring it resonates with contemporary audiences.
From classic TV dramas to innovative new content, Waves aims to deliver a robust digital entertainment experience that celebrates India’s diversity.
Are you ready to surf India’s cultural treasures with Waves?
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.
