iWorld
ThuDo Multimedia welcomes Yeeshu Baijal as country director
MUMBAI: Two decades – long enough for a fledgling to become a master.
For Yeeshu Baijal, 20 years have been a journey of mastering the art of broadcast, shaping trends, and redefining industry standards.
Now, this seasoned leader steps into the spotlight as ThuDo Multimedia India appoints him as country director, entrusting him with the helm to steer their growth and innovation in the ever-evolving Indian OTT multimedia landscape.
Baijal’s extensive career includes significant roles at leading firms such as ABV International, where he served as sales head for SAARC countries. In this capacity, he was instrumental in driving business development and establishing strategic partnerships across the region. His leadership was pivotal in expanding ABV International’s footprint and enhancing its market presence.
Prior to his tenure at ABV International, Baijal held key positions at various organisations like TRIAX A/S regional manager; Viacom18 Media Pvt Ltd manager- network sales & development; Zee Turner Ltd area sales manager; Disney Star territory manager, contributing to their growth and success through his deep understanding of the broadcast and media landscape. His career trajectory reflects a consistent commitment to innovation and excellence in service delivery.
At ThuDo Multimedia India, Baijal will oversee the deployment of Sigma OTT—a comprehensive solution designed to meet the diverse needs of broadcast and media operators worldwide. Sigma OTT’s suite of products addresses critical challenges, including content protection through Sigma DRM and revenue generation via Sigma Interactive, a value-added portal for broadcasters.
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.
