iWorld
Sony LIV to stream the Australian Open
Mumbai: Sony LIV has always been the one-stop destination for Tennis in India, the home for the major grand slams, and the place where lovers of the game unite. Tennis has been steadily gaining traction in the country, evolving into a hotspot for ardent admirers. Sony LIV once again is all set to bring excitement to the Indian Tennis community with the Grand Slam extravaganza – the Australian Open, fondly known as the ‘happy slam’, promising an exhilarating start to the year for fans.
The platform has partnered with Hyundai Motor India as the co-presenting and highlights sponsor, while Tourism Australia and ACKO joined as the co-presenting and partner sponsor respectively. Hyundai Motor India traditionally focused on TV advertising, has made its first foray into the digital arena, marking a notable shift towards the digital space for premium properties. The immense enthusiasm for the Australian Open in India has propelled Sony LIV to secure impactful partnerships with leading brands, resulting in these productive deals.
Being home to numerous international tournaments, Sony LIV has been instrumental in fostering a significant surge in viewership by providing fans access to the game on the go. 24 grand slam winner Novak Djokovic has now become a household name in the nation as he is set to illuminate the Melbourne Park. Nevertheless, he will encounter fierce competition from the rapidly emerging 20-year-old sensation, Carlos Alcaraz, who is swiftly making his mark in the world of tennis. This is not all, after a long three-year wait, India’s top-ranked Sumit Nagal’s notable inclusion in the Australian Open will promise more action and thrill to the Indian Audiences.
Will Coco Gauff script another fairy tale run to a major final? Could Iga Swiatek kickstart 2024 with a bang? Or will Aryna Sabalenka successfully defend her title? Sony LIV promises to bring you all breathtaking and edge-of-the-seat competition for a span of two weeks. With Djokovic, Alcaraz, Sabalenka, Swiatek, Sumit Nagal and numerous other players gracing the court, the platform invites fans across the country to hop in and indulge in their passion for the sport they love.
Sony LIV head ad revenue Ranjana Mangla:
We are excited to present the inaugural Grand Slam event of the year, the Australian Open, on Sony LIV, setting the stage for a year filled with enthusiasm. Our commitment is unwavering as we strive to engage with the Indian Tennis community, streaming a bouquet of prestigious tournaments, including the Australian Open, Roland Garros, US Open, Davis Cup, Laver Cup, and more. We gratefully acknowledge the ongoing support of our sponsors—some renewing their partnerships, while others join us for the first time. Each sponsor shares our passion for sports and is eager to connect with our affluent subscriber base, solidifying us as a strategic choice for their communications.
Hyundai Motor India AVP & vertical head, marketing Virat Khullar:
This collaboration between Sony LIV & Hyundai states a joint dedication to excellence and performance, reaching out to affluent audiences. Hyundai recognizes the potency of the digital realm and has seen a significant shift among consumers towards digital content consumption. Hyundai has been actively engaging with premium sports content on digital, acknowledging the influence of such content in capturing the right TG. The inclusion of Australian Open in Hyundai’s scheme of things is to convey powerful brand story to cord-cutters who are interested in premium sport like tennis.
Catch the Australian Open streaming live only on Sony LIV!
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.
