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Virtual Fireside Series: Catch Eros STX Global’s Pradeep Dwivedi live on 18 Sep
KOLKATA: Taking ahead its virtual fireside series with eminent professionals of the media and advertising industry in India, Indiantelevision.com will be hosting Eros STX Global CEO-India Pradeep Dwivedi on Friday 18 September at 11.30 am. The session will be helmed by our founder, CEO, and editor-in-chief Anil Wanvari.
Dwivedi is an industry veteran with nearly three decades of experience across media, marketing, publishing and advertising. He has worked at multiple brands and publishing houses in different capacities and played a key role in the growth. Dwivedi started his career with Eicher Motors, and went on to work with GE Capitals, Standard Chartered Bank, and American Express. His longest stint has been with Tata Tele Services which extended just a little over eight years. Post that he served with Dainik Bhaskar Group as chief corporate sales and marketing officer and later served in the capacity of chief executive officer with Sakal Group.
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Eros International recently changed its corporate name to Eros STX Global Corporation recently following the completion of rare Bollywood-Hollywood merger. The opportunities are flaring up for both sides of the business – OTT and studio segment. At this crucial juncture of the business, Pradeep Dwivedi is spearheading the Indian market of the newly merged entity.
Dwivedi will be sharing his experiences of sailing through the times of pandemic, the changing landscape of the media environment, new trends and developments in the content space, merging of Bollywood and Hollywood at Eros STX Global and leadership & life lessons.
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.
