Mastodawn

"Scars to Your Beautiful" is a song recorded by Canadian singer-songwriter #AlessiaCara. #DefJamRecordings and #UniversalMusicGroup serviced it to #contemporaryHitRadio on July 26, 2016, as the third single from her debut studio album, #KnowItAll (2015). A #synthpop ballad, the song was recorded in 2015 at Glenwood Place Studios, based in #BurbankCalifornia, and was written by Cara herself, alongside the song's producers, #PopAndOak, #SebastianKole.
https://www.youtube.com/watch?v=MWASeaYuHZo

Alessia Cara - Scars To Your Beautiful (Official Video)

YouTube

TheBadPlace 5d ago

yahoo news | UMG will review Pershing Square bid but backs management team

Pershing Square has lodged an unsolicited, non‑binding €55 billion ($63.5 bn) proposal to acquire Universal Music Group (UMG). In its brief response, UMG confirmed receipt of the offer and said the board would review it “in accordance with its fiduciary duties” and assess the impact on shareholders, employees, artists, songwriters and other stakeholders. The company also reiterated its confidence in its current strategy and leadership under Sir Lucian Grainge, stating it would not comment further until the review is complete.

The hedge‑fund’s proposal includes appointing veteran entertainment executive Michael Ovitz to UMG’s board and negotiating a new employment contract and compensation package for Grainge. In an investor call, Pershing Square founder Bill Ackman emphasized that the deal’s fate hinges on the support of UMG’s largest shareholder, the Bolloré Group, and on board approval. He noted that the approach was not a surprise, having been hinted at during a dinner with Grainge and Ovitz, but that details remain limited.

Analysts at CMU suggest the cash component of the bid would mainly be financed by selling Universal’s stake in Spotify and by loading roughly €5.4 billion of new debt onto the company. The proposal, therefore, relies heavily on leveraging UMG’s existing assets to fund the transaction, raising questions about the long‑term financial implications for the label and its diverse group of stakeholders.

#umg #pershingsquare #universalmusicgroup #billackman #bollorégroup

UMG will review Pershing Square bid but backs management team

As expected there have been a few follow-ups to yesterday’s news that hedge-fund Pershing Square wants to buy Universal Music Group for €55bn.

Music Ally

TheBadPlace 5d ago

bing news | Bill Ackman thinks he’ll convince UMG shareholders to take his deal. JP Morgan isn’t so sure.

Bill Ackman’s Pershing Square has lodged an unsolicited, non‑binding cash‑and‑shares proposal to buy Universal Music Group (UMG) at a valuation of roughly $64 billion. The offer would give UMG shareholders €9.4 billion in cash plus 0.77 shares of a newly created “New UMG” for each share they hold. Pershing Square would fund about a quarter of the cash itself, while the balance would come from new investment‑grade debt and the sale of UMG’s €2.7 billion stake in Spotify. Ackman says the deal would also free up up to €750 million for UMG’s artists from the Spotify sale and could pave the way for a NYSE listing via Pershing Square’s SPARC vehicle.

The proposal hinges on the backing of Bolloré Group, which currently owns a 28 % stake in UMG, and the approval of UMG’s board led by Sir Lucian Grainge. While Ackman asserts “overwhelming shareholder support” and reports an encouraging response from Bolloré, JP Morgan analyst Daniel Kerven warned that Bolloré may not back the plan, noting there is nothing in Pershing’s offer that UMG could not achieve on its own with major shareholder support. Other analysts echoed the uncertainty: ING said the proposal raises “many valid points” but might fail, and Deutsche Bank called it “opportunistic and timely” but offered no prediction. Tencent, which holds about 20 % of UMG through a consortium, appears indifferent and was reportedly “out of the loop” before the announcement.

If the deal proceeds, Pershing Square would contribute €2.5 billion in cash, while €5.4 billion would be raised through debt and €1.5 billion would come from selling the Spotify stake. The financing structure means Pershing Square is putting up roughly a quarter of the cash, with the remainder financed externally and by liquidating an existing UMG asset. The transaction could open a window for other private‑equity firms—such as Blackstone and Apollo—to pursue UMG, which recently launched a €500 million share‑repurchase program citing a “meaningful dislocation” in its market valuation. UMG’s board has said it will review the proposal in line with its fiduciary duties but will not comment further until that review is complete.

#billackman #umg #pershingsquare #universalmusicgroup #bollorégroup

Bill Ackman thinks he’ll convince UMG shareholders to take his deal. JP Morgan isn’t so sure.

The music giant said it will review the proposal and analyze its implications for shareholders, employees, artists and songwriters.

Music Business Worldwide

TheBadPlace 5d ago

yahoo news | Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B ...

Pershing Square Capital Management, the hedge fund run by billionaire Bill Ackman, has lodged a non‑binding offer to acquire Universal Music Group at €30.40 a share – roughly a 78 % premium to the current market price. The proposal would give UMG shareholders €5.05 in cash per share (about €9.4 billion in total) and 0.77 shares in a newly created publicly‑listed entity for every share they own, with the combined company eventually listed on the NYSE under U.S. GAAP and eligible for inclusion in the S&P 500.

Ackman contends that UMG’s share price is chronically depressed, not because of weak fundamentals but due to a mix of structural and market headwinds. He points to the uncertainty surrounding the Bolloré Group’s 18 % stake, the long‑delayed U.S. listing, an under‑leveraged balance sheet, the absence of a clear capital‑allocation plan, and the market’s failure to value UMG’s €2.7 billion holding in Spotify. Despite these challenges, he praised CEO Sir Lucian Grainge and his team for delivering solid operational results while the stock lagged.

The deal is expected to close before year‑end, with full equity financing backed by Pershing Square and its affiliates and debt financing locked in at signing. Approximately 17 % of UMG’s existing shares would be retired, leaving the merged entity with about 1.54 billion shares while preserving its investment‑grade credit rating. Legal and financial advisers on the transaction include Sullivan & Cromwell, White & Case, Stibbe, and Jefferies.

#pershingsquarecapitalmanagement #billackman #universalmusicgroup #nyse #s&p500

Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal - EconoTimes

Pershing Square Capital Management, the hedge fund led by billionaire investor Bill Ackman, has submitted a non-binding proposal to take over Universal Music Group (UMG) at 30.40 per share a significant 78% premium over...

EconoTimes