Since the summer of 2020, Ackman has been on the hunt for a large company to merge with his SPAC and take public. Last fall, Ackman kicked the tires on businesses like financial data company Bloomberg, and was reportedly interested in fintech Stripe, but no deals ever culminated.
Once stagnant, the music publishing business has boomed in recent years due to the rise of streaming media platforms like Spotify and Tencent Music, generating growing revenues for publishers and artists. As streaming media went mainstream, large incumbent players like Universal struck partnerships with newer streaming media companies, and even taking on the likes of Tencent as investors.
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Billionaire Bill Ackman In Talks To Take Universal Music Public At $40 Billion-Plus ValuationUniversal Music, the largest publisher of music in the world, may be listed on public stock markets through a massive deal with billionaire investor Bill Ackman’s special purpose acquisition company, Pershing Square Tontine Holdings. Good luck on getting that $40B valuation to stick. good luck Of course he is 😂
Source: Forbes - 🏆 394. / 53 Read more »
Bill Ackman's Pershing Square nears biggest-ever SPAC deal with Universal Music, source saysBillionaire investor Bill Ackman is closing in on a deal to take Universal Music public in the largest special purpose acquisition company deal ever, a source told CNBC on Thursday. F Lol
Source: CNBC - 🏆 12. / 72 Read more »
Universal Music's New US Investor: Bill Ackman SPAC Closing In on 10% StakeUniversal Music is landing another anchor investor through a new deal nearing completion with Bill Ackman's Pershing Square Capital Management company's SPAC.
Source: billboard - 🏆 112. / 63 Read more »