Universal Music rejects Bill Ackman’s $65bn takeover bid Business Universal Music’s board has rejected billionaire Bill Ackman’s takeover proposal, arguing it “materially undervalues” the company and is ultimately not in the best interest of shareholders or artists. The company’s board unanimously rejected the $65bn (£48.3bn) proposal from Ackman’s Pershing Square Capital on Friday, as it offered to buy the world’s largest record company last [...]
Bill Ackman’s Pershing Square launches bid for Universal Music Group Markets An investment company helmed by billionaire hedge fund investor Bill Ackman has offered to buy the world’s largest music company in a $63bn bid. Pershing Square said on Tuesday it plans to form a new US-listed company through a merger with Universal Music Group (UMG), pulling its Amsterdam listing. The deal would give Universal investors [...]
Universal handed £6m of taxpayer cash to film Hamnet despite raking in profits of £810m Media American filmmaking giant Universal was handed a £5.7 million government subsidy to make period drama Hamnet even though the studio generated £810 million in profit last year. The blockbuster’s cost to taxpayers is revealed in filings for the film which won the coveted honour of Outstanding British Film at the Baftas on Sunday. The heartbreaking [...]
London ad campaign boosts Abu Dhabi theme parks January 7, 2026 Visitors from the UK to Abu Dhabi’s theme parks surged by 40 per cent last year following the first advertising campaign for them in London which saw banners for Sea World, Warner Bros World and Ferrari World plastered on the walls of underground stations and at Canary Wharf. It was part of a diversification plan [...]
Universal partners with Nvidia to prevent AI ‘slop’ in music January 7, 2026 Universal Music Group has struck a historical deal with AI chip giant Nvidia to “pioneer responsible AI for music discovery, creation, and engagement”, the companies announced on Tuesday. Combining Nvidia’s advanced AI infrastructure alongside Universal’s vast catalogue of tracks, the partnership aims to explore tools that elevate artist creativity, while ensuring copyright compliance and proper [...]
Autumn Budget: Reeves splurges £12bn on welfare as two-child benefit cap ditched November 26, 2025 The UK’s fiscal watchdog has forecast welfare spending to soar over the next few years after the Labour government ditched plans to reform the welfare state. The Office for Budget Responsibility (OBR), which accidentally published its report before the Budget, has said welfare spending will rise by £12bn in the fiscal year 2029-30, when compared [...]
Luton Airport chair: Green targets for expansion ‘not easy’ to meet July 9, 2025 Strict green targets for Luton Airport’s expansion plans will “not be easy” to meet, its new chair has said, even as he praised the economic importance of the project. Ministers rubber-stamped proposals to ramp up capacity at Luton earlier this year, shortly before backing a massive Universal Studios theme park and resort in nearby Bedford. [...]
Labour’s welfare U-turn spikes fears of tax hikes June 27, 2025 The Labour government has confirmed its latest U-turn with a significant retreat on welfare reform dealing a crushing blow to Rachel Reeves’ waning fiscal headroom. The bill initially targeted restrictions on personal independence payments (PIP) and limited the sickness-related element of universal credit in a bid to shed £5bn from the welfare budget by 2030. Under [...]
Universal to open Alton Towers and Thorpe Park rival April 9, 2025 Universal is to open a new theme park in the UK which will become a major rival to the likes to Alton Towers and Thorpe Park after a deal was agreed. The US entertainment giant has received the backing of the government and the local council for the project which will see a theme park [...]
Universal: Deal nears to open Alton Towers rival April 7, 2025 A deal which would see Universal open a major new theme park in the UK to rival Alton Towers could be announced in the coming weeks, according to reports. The Financial Times has said ministers are nearing an agreement with Comcast’s Universal Destinations and Experiences (UDX) to develop a 476-acre site near Bedford. Plans for [...]