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Universal Music In Play

T

TheBigA

A US investment company has made an offer to buy Universal Music Group. This would bring ownership of the label back to the US:

www.hollywoodreporter.com

Universal Music Group Gets $63.5 Billion Takeover Offer From Bill Ackman’s Pershing Square

Lucian Grainge, CEO of the musical home of the likes of Taylor Swift, and his team "have done an excellent job... However, UMG's stock price has languished due to a combination of issues that are unrelated" to its music business performance.
www.hollywoodreporter.com www.hollywoodreporter.com


www.cbsnews.com

Universal Music targeted in takeover bid by hedge fund Pershing Square

American hedge fund Pershing Square announced it's offered to buy Universal Music Group in a merger, saying it believed the world's biggest music label was undervalued by stock markets.
www.cbsnews.com www.cbsnews.com
 
This is sort of how it began with radio in the 80s, when all the investors came in buying stations. Big investment companies like Bass Brothers and KKR. Then the FCC started to deregulate, and next thing we knew, things were different. Some see this as similar. This isn't about music. It's about money. Whenever it's only about money, the business itself goes to pot. That may happen here. It depends on how those on the inside handle it.
 
Six weeks later, UMG says thanks, but no thanks to Ackman:

barrettmedia.com

UMG Rejects Ackman's $64 Billion Takeover Bid

"We remain committed to leading the industry by attracting the world's top talent"
barrettmedia.com barrettmedia.com


Universal Music Group has officially told Bill Ackman’s Pershing Square Capital Management thanks, but no thanks.

The company announced Friday that its board had unanimously rejected Pershing Square’s unsolicited April 7 acquisition bid, concluding that the $64b offer “fundamentally and materially undervalues UMG” and fails to deliver “superior value creation” for shareholders, artists, songwriters and other stakeholders.
Click to expand...

Next step is to see if Ackman raises his bid.
 


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