iWorld
Reliance launches JioTV for web
MUMBAI: After recently announcing a web version of its content platform, JioCinema, Reliance Jio has silently introduced the web version of its Live TV watching platform, Reliance JioTV. The launch of the platform has been imminent as the customers of Reliance are asking for a web version of the JioTV for quite some time.
Jio customers can now head over to jiotv.com on any browser. All the content and live TV channels that are available in the JioTV application are made available on the web version. Moreover, the web interface is similar to the interface of the JioTV application for Android. The channels are displayed in a line-based interface and users can toggle between the SD and HD channels.
Interestingly, unlike the Jio TV app on mobile phones, JioTV on the desktop can stream and play programmes with the help of internet service providers other than Reliance Jio.
With this move, Reliance Jio is allowing its customers to watch online content anywhere. Furthermore, users can access the website in any mobile browser. This essentially removes the hassle of downloading the application to watch the content.
JioTV has more than 525 channels and more than 90 channels in HD.
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.
