iWorld
WarnerMedia announces three senior content hires in Asia
Mumbai: WarnerMedia on Friday announced three senior content hires in Asia to bolster its original productions teams in advance of the launch of HBO Max in the region.
In the Singapore-based team, Mark Francis has been appointed group lead of production and development (scripted and unscripted), and Wee Shi Ming has been named lead of entertainment content acquisition for North Asia content. They both will report to WarnerMedia head of content – entertainment for Southeast Asia, Taiwan and Hong Kong Magdalene Ew.
In Mumbai, Saugata Mukherjee joins WarnerMedia as head of content – entertainment, India. The newly-created role, like Ew, reports to managing director of India, Southeast Asia and Korea Clement Schwebig.
“These are vital roles as we look to ramp up our original content and programming ambitions in this region,” said Schwebig. “Saugata, Mark and Shi Ming have a great eye for a winning project and have enviable connections within the industry. With them all now in place over the past few months, we’re looking in great shape to entertain local audiences with a well-rounded and premium slate.”
Former Astro head of OTT content and iflix chief content officer Francis will lead a regional team to develop Asian original productions under the ‘Max Originals’ banner.
Wee Shi Ming, in the content acquisition team, started in late 2021 and will focus on securing Japanese, Korean, Chinese and Anime titles. Prior to this role, Wee was at Viu and Sony Pictures Television Networks, where she was head of acquisition and programming for Asian content. Wee now works alongside Katheryn Lim, who leads content acquisition for international and English-language entertainment titles, with both of them reporting into Ew.
Former SonyLiv and Disney exec Mukherjee also joined in late 2021 and is responsible for commissioning local originals, as well as acquiring and developing Indian content across all general entertainment genres.
In September 2021, WarnerMedia also announced the appointment of Audrey Wee as the physical production lead for its growing line-up of regional entertainment content in Southeast Asia, Taiwan, and Hong Kong. And in July, May-Yi Lee was named Lead of development and production – unscripted for the same region. Wee reports into Ew while Lee reports into Francis.
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.
