iWorld
Sunburn Goa announces DJ Alesso to perform at EDM Festival 2024
Mumbai: Sunburn Goa, Asia’s premier electronic dance music (EDM) festival as per the press release, is set to light up 2024 with an announcement that will have fans buzzing around the globe, revealing that the sensational Swedish DJ and EDM legend Alesso is making a spectacular return to the festival stage. Joining him for this high-octane celebration is the globally adored KSHMR, the genre-defying ARGY. Prepare for a mind-blowing experience at Sunburn Goa 2024, set against the stunning backdrop of Goa’s shores from 28 to 30 December 2024.
Alesso has been a force in the global electronic dance music scene since his breakthrough in 2011. His ability to blend progressive house with melodic elements has earned him a loyal fanbase worldwide. Known for his explosive performances and chart-topping hits, is back to set the stage on fire. With a career studded with RIAA-certified Platinum tracks and collaborations with stars like Katy Perry, OneRepublic, and Marshmello, Alesso’s flair for creating unforgettable anthems is a perfect match for Sunburn Goa’s high-energy atmosphere.
Alesso commented, “I’m excited to be performing at Sunburn. I love India. It has such a long history with music and it shows in the culture and people. I can’t wait to meet all my Indian fans.”
KSHMR added, “I’m beyond excited to be a part of Sunburn Goa 2024. The immense love you see for the music at Sunburn is nothing short of extraordinary and I can’t wait to bring my unique sound to this incredible festival.”
ARGY said, “So excited to be a part of something magical at Sunburn Goa! The festival’s vibe is legendary and I can’t wait to contribute to the magic.”
Sunburn Festival CEO Karan Singh said, “We are absolutely delighted to announce Alesso, KSHMR and ARGY performances at Sunburn Goa 2024. Their exceptional talent and vibrant energy are a perfect match for the festival’s spirit. With the overwhelming support from our fans, this year is bound to be unforgettable. We can’t wait for everyone to experience these phenomenal performances and create incredible memories with festival-goers from all over the world.”
As per the press release this year, Sunburn Goa will plunge into the mystical depths of the underwater world, creating a surreal and immersive experience. Don’t miss your chance to experience the magic of Alesso, KSHMR ARGY and many more at Sunburn Goa 2024; get your tickets now on BookMyShow!
Tuborg Zero Packaged Drinking Water Sunburn Goa 2024 is presented by Absolut Mixers, Driven by Hyundai, Powered by Reliance Digital and Styled by Jack & Jones.
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.
