Canal+ is set to debut on the London Stock Exchange, marking the largest new listing in two years, with a projected market value of €6bn. The move, seen as a vote of confidence in the UK capital markets, comes as Vivendi spins off its media assets, including StudioCanal. The listing aims to bolster Canal+'s ambitions to compete with major streaming services like Netflix and Disney+.
UBS has reaffirmed its 'buy' recommendation for Universal Music Group (UMG) with a price target of 26 euros, indicating a potential 26% upside. The firm notes that label revenues from paid streaming grew approximately 8% year-on-year in Q3, consistent with Q2 performance, and highlights Amazon's bundling of audiobooks with Music Unlimited as a positive development.
UBS has reaffirmed its 'buy' recommendation for Universal Music Group (UMG) with a price target of 26 euros, indicating a potential 26% upside. The firm reports that label revenues from paid streaming grew approximately 8% year-on-year in Q3, consistent with Q2 performance, and views Amazon's bundling of audiobooks with Music Unlimited as a positive development.
Universal Music Group NV has rejected Bill Ackman's claim that his Pershing Square fund can force the company to relocate its domicile to the US or delist from Euronext Amsterdam. Ackman asserted a "contractual right" to initiate the move, coinciding with his push to delist Pershing Square Holdings from Euronext due to recent antisemitic incidents in Amsterdam.
Universal Music Group will relocate its primary stock exchange listing to the U.S. in 2025, as announced by Bill Ackman at the Delivering Alpha conference. This decision follows recent antisemitic attacks in Amsterdam and aims to enhance liquidity and valuation, given UMG's current market value of approximately $46 billion. Ackman, the largest shareholder, holds the right to force the relisting, which is expected to occur within 120 days of his demand.
Universal Music Group NV reported third-quarter revenue of €2.87 billion ($3.1 billion), surpassing analyst expectations of €2.83 billion. The growth was driven by an 8.2% increase in subscription income, attributed to subscriber growth and price hikes on some platforms.
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