iWorld
YuppTV expands its offering by launching 18 Sri Lankan channels
MUMBAI: YuppTV has expanded its offering with the launch of 18 Sri Lankan TV channels across a variety of genres such as general entertainment, news, music, spiritual etc. As part of the association, prominent Sinhala, Tamil and English channels such as Siyatha TV, Derana TV, Dan TV, Channel C, Nethra TV and Prime TV will be made available on the YuppTV platform worldwide.
Speaking on the partnership, YuppTV founder and CEO Uday Reddy said, “At YuppTV, we have always sought to enable the best, most preferred entertainment options for our users across the globe. We have constantly enhanced our content offerings to appeal to the sensibilities of our diverse consumer base. Allowing access to these channels through our platform will add to the delight of our Sri Lankan expat viewers as they will be able to watch their favorite programmes from anywhere in the world.”
The platform aims at catering to approximately 3 million Sri Lankan expats across the globe with the majority concentrated around Europe, Middle East and Canada. Two of Sri Lanka’s most popular TV channels namely Shakthi TV and Sirasa TV were already available on the OTT platform.
With this partnership, the service provider will also provide live TV access of Sri Lankan channels to subscribers at a very affordable price. These new channels will be part of Sri Lankan TV packages and can be accessed through the YuppTV website or via its app.
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.
