iWorld
RCB skipper Virat Kohli jumps onboard MX TakaTak app
Mumbai: Amidst the burgeoning cricket fever that has engulfed the nation, MX TakaTak recently announced itself as the official short video partner for seven IPL teams. Now, the platform has roped in global cricket icon Virat Kohli, who has signed on as a member.
The Indian captain will not only create fun and exclusive TakaTak Videos but also participate in hashtag challenges and livestreams, offering his fans a chance to get a closer look at him off the field as well.
Regarded as one of the top batsmen in the world, Kohli has remained one of the undisputed leaders in terms of the number of followers for an Indian sportsman across all major social media platforms. His posts on MX TakaTak will offer his fans insight into the candid moments from his life.
Kohli said, “I’m really excited to have joined MX TakaTak. It’s the leading short video app and gives me a new place to share moments from my life and to have authentic conversations with my fans across the globe.”
MX Player and MX TakaTak CEO Karan Bedi said, “Short video platforms have until now been at the early part of the adoption curve, primarily led by the rapidly growing online influencer community to showcase their talent and build their fan base. However, with legendary cricketer Virat Kohli, who is India’s biggest celebrity as well as one of the world’s top stars, creating an account on MX TakaTak, we are now in the cultural mainstream.”
He further added, “This space has changed a lot since the time we entered the market and has marked several high points in only a year. We are happy to be welcoming the Indian Cricket Superstar – Virat Kohli to the TakaTak family and look forward to being part of his life. With this move and many more to come, we want to offer our millions of users more delightful moments from their biggest idols’ lives.”
iWorld
Bill Ackman makes a $64bn bid for Universal Music Group
The hedge fund boss wants to list the world’s biggest record label in New York and thinks he knows exactly what ails it
NEW YORK: Bill Ackman wants to buy the world’s biggest record label. Pershing Square Capital Management, the hedge fund run by the billionaire investor, submitted a non-binding proposal on Tuesday to acquire all outstanding shares of Universal Music Group in a business combination transaction worth roughly $64.4 billion (around 55.8 billion euros).
Under the terms of the offer, UMG shareholders would receive 9.4 billion euros in cash, equivalent to 5.05 euros per share, plus 0.77 shares of a newly created company, dubbed New UMG, for each share held. Pershing Square values the total package at 30.40 euros per share, a 78 per cent premium to UMG’s closing price on April 2.
The deal would see UMG merge with Pershing Square SPARC Holdings, with the combined entity incorporating as a Nevada corporation and listing on the New York Stock Exchange. New UMG would publish financial statements under US GAAP and become eligible for S&P 500 index inclusion. Pershing Square says the transaction is expected to close by year-end, with all equity financing backstopped by Ackman’s firm and its affiliates, and all debt financing committed at signing. The transaction would cancel 17 per cent of UMG’s outstanding shares, leaving New UMG with 1.541 billion shares outstanding.
Ackman has a long history with UMG. Pershing Square first bought approximately 10 per cent of the company from Vivendi in the summer of 2021 for around $4 billion, around the time of UMG’s listing on the Euronext Amsterdam exchange. He has since trimmed that position, raising around $1.4 billion from the sale of a 2.7 per cent stake in March 2025, and resigned from UMG’s board in May 2025, citing new executive and board obligations arising from recent investments.
His diagnosis of UMG’s troubles is blunt. The company’s stock has fallen around 33 per cent over the past twelve months on the Euronext Amsterdam exchange, and Ackman lays out six reasons why. These include uncertainty around the Bolloré Group’s 18 per cent stake in the company, the postponement of UMG’s US listing, the underutilisation of UMG’s balance sheet, the absence of a publicly disclosed capital allocation plan and earnings algorithm, a failure to reflect UMG’s 2.7 billion euro stake in Spotify in its valuation, and what Ackman calls suboptimal shareholder investor relations, communications and engagement.
The Bolloré stake has long cast a shadow over the company. Cyrille Bolloré stepped down from UMG’s board in July 2025 as the Bolloré Group battled the French financial markets regulator over its stake in Vivendi, which holds a further capital interest in UMG. UMG had confidentially filed a draft registration statement with the US Securities and Exchange Commission in July 2025 for a proposed secondary listing in America, but put those plans on hold in March 2026, citing market conditions.
Ackman has kind words for UMG’s management, at least. “Since UMG’s listing, Lucian Grainge and the company’s management have done an excellent job nurturing and continuing to build a world-class artist roster and generating strong business performance,” he said. But he made his diagnosis plain: “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction.”
In other words, Ackman believes UMG is a great business trapped inside a broken structure. If the board agrees, he intends to fix that, loudly and in New York.
