iWorld
SonyLIV shows how hate converts to love in ‘Black Coffee’
MUMBAI: Can you fall in love with someone you have always detested? They say, don’t get too personal at work, but what happens when business leads you to your true love?
Addressing the complexities of love and taking on the concept of attraction, SonyLIV, brings to the small screen Black Coffee; a seven-episode web series by Beyond Originals.
The series is about love changing perceptions and breaking boundaries. The series is centred around a bestselling novelist, Dhruv Narang (Param Singh) and Hemal Shah (Harshita Gaur), two individuals who are leading their lives with fixed notions about love. The story underlines the bittersweet romance of the lead couple, their constant clashes and their journey from hate to love.
SonyLIV, EVP and head – digital business Uday Sodhi, said, “At SonyLIV, it is our constant endeavour to deliver content that not just entertains but also evokes emotions. We are happy to associate with Beyond Originals to bring entertaining yet relatable stories to the small screen. Keeping our brand ethos ‘We LIV to entertain’ in mind, we will continue to curate content that enhances viewer experience and establishes a connect with them.”
Beyond Originals Founder Yash Patnaik said, “Black Coffee is the first of Beyond Originals’ offering of digital content. Our previous series with Sony Kuchh Rang Pyar Ke Aise Bhi was well-received and appreciated by the viewers. I am hoping that Black Coffee continues to spread love and be appreciated.”
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.
