iWorld
Pritish Nandy’s Ogle to be India’s Netflix
MUMBAI: Backed by Pritish Nandy Communications’ digital arm, PNC Digital, Ogle, an upcoming digital platform, promises to bring an array of international and national content to Indian viewers.
From streaming international television shows, Hollywood to Bollywood movies, it also promises to bring international TV shows within 24 hours of them being aired.
According to media reports, Pritish Nandy hopes to give users in India a service similar to that provided overseas by Netflix Inc., Hulu.com and Amazon.com’s Instant Video. It will bring content to viewers irrespective of the device. It can be used on televisions, PCs, tablets and smartphones.
Consumers can access Ogle through any device through a browser or an app. If it’s a Smart TV, the app can be downloaded onto the TV. Otherwise, the company will provide a set-top box to display the content on a traditional TV.
Launching on 22 September Ogle will offer multiple plans to subscribers. The basic plan that offers unlimited access to Ogle’s services on five pre-registered devices, is priced at Rs 500 per month and an additional Rs 1,000 per month (taxes additional) will provide free unlimited access to stream content, as per the reports. Another plan offered is a Rs 1,500 per month plan that also offers a 2 Mbps broadband connection without any limit in addition to the benefits of the Rs 1,000 per month plan.
Ogle promises to carry over 150 international television shows (all seasons) as well as over 500 English movies. It has already lined up Indian content as well as a large library of music from India and across the world to add in the coming months after launch. The company plans to add more genres including concerts, sporting events and probably also become a distribution channel for content that regular distributors are not interested to distribute.
Ogle was acquired by PNC Digital in July from its developer Harshawardhan Sabale, who now leads the business as chief executive of PNC Digital.
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.
