iWorld
STARZ streamer Lionsgate Play launches in Sri Lanka
Mumbai: In a bid to expand its presence in Asia, the US-based streaming platform STARZ has launched its direct-to-consumer (DTC) OTT app Lionsgate Play in Sri Lanka, following its launch in India and Indonesia.
The premium subscription service will bring Lionsgate Play’s vast library of Hollywood blockbusters, film franchises, and premium original series and boxsets immediately accessible to the subscribers, the platform said in a statement on Tuesday.
The service has also launched at attractive price points to Sri Lankan consumers to enjoy the best of global entertainment affordably and at their convenience, it added.
“We are thrilled to bring Lionsgate’s global brand to Sri Lanka with the launch of the Lionsgate Play app,” MD of South Asia and Networks-Emerging Markets Asia, Rohit Jain said.
“Sri Lanka is a key market for us with its promising internet penetration, rapid growth in broadband, and the recent introduction of unlimited internet packs. We want to provide the finest, never seen before content that will captivate our audiences with bespoke entertainment drawing on the most exciting current releases and our premium library. The launch of Lionsgate Play will bring premium world-class entertainment right to the pockets of the consumers. We are certain that the launch will initiate altogether a new unparalleled entertainment experience to the island nation.”
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.
