저자: Ben · 외국인
요약 보기
빌 애크먼의 SPAC(Pershing Square Tontine)이 유니버설뮤직 지분 10%를 약 40억 달러에 인수하는 방향으로 협상 중이라는 뉴스를 정리한 영상이다. 거래 개요: 유니버설뮤직 기업가치는 약 400억 달러로 거론되며, 골드만삭스 리포트 기준 과거 평가액 530억 달러보다 낮아 좋은 딜로 봤다. 발표 직후 SPAC 주가는 약 11% 급락했다. 거래 구조: 일반적인 SPAC 합병이 아니라 유니버설뮤직이 암스테르담 증시에 2021년 3분기 상장을 계획한 상태에서, SPAC이 지분을 인수하는 형태다. 푸싱스퀘어 측은 합병이 아니라고 밝혔다. 상장 후 주식은 SPAC 주주에게 배분될 수 있으며, 기존 투자자에게 신규 SPAC 참여 우선권을 주는 점도 언급됐다. 주요 주주: 프랑스 비벤디가 최대주주이고 텐센트가 소수 지분을 보유하고 있어 이들도 수혜를 본다. 회사 평가: 비틀즈, 롤링스톤스, ABBA 등 레거시 음악 카탈로그와 에미넴, 아델, 저스틴 비버, 켄드릭 라마 등 현역 아티스트를 보유한 점을 경쟁력으로 꼽았다. 매출은 최근 수년간 약 50억 유로 안팎으로 안정적이었고 최근 페스티벌 관련으로 성장세가 나타났다. 음원 스트리밍 및 퍼블리싱 수익 일부를 확보하는 구조다. 출연자 전망: 진행자는 유니버설뮤직이 좋은 회사이고 애크먼의 선택이 합리적이라는 입장이며, 대안으로 스트라이프나 디스코드 같은 기술 기업도 거론했다. 특정 종목 매수·매도 추천은 명시하지 않았다. 리스크: SPAC 주가 급락과 거래 구조의 불확실성이 언급됐다. 본 요약은 영상 내용 정리이며 투자 권유가 아니다.
다듬은 글
hey everyone ben here and welcome to motivation to invest breaking news bill atman the billionaire activist investor has finally announced who they're in talks with to potentially be merging with for their spac company now this is a company which i'm personally invested into so i covered this company back in 2020 so this basically is the largest spark ever formed for those who don't know where a spark is it basically stands for a special purpose acquisition company just think of this as a blank check company this is a company with a heap load of cash and their sole purpose usually is to find another company and merge with that company but in a real twist and a real surprise bill atman has decided to actually potentially take a 10 stake in universal music so let's dive into a few more details right now so here we are guys in the headlines here this is on the wall street journal and cnbc so bill atman's pershing square confirms in talks to buy 10 of universal music at 4 billion dollars and that of course will value universal music at around 40 billion dollars now i did do some digging for you guys and i discovered that previously according to a goldman sachs report universal music group was valued at 53 billion so to me it looks like bill atman's got quite a good deal on this apparently however the market is not too this very well so as you can see when this was announced um the spack actually plummeted by 11 but maybe this is just the uncertainty and the fact that most sparks actually merge with a private company and take the company public whereas this is a really different setup and bill ackman has created what's called a spa um yeah not that type of spa this is actually a different type of spa um which pill admin has created which i won't go into details in in this video basically the idea of this is bill atman is in talks to buy 10 percent of universal music and then universal music already planned to go public on the amsterdam stock exchange as you can see here pushing square turn time holding said the deal will not result in a merger and universal music will go ahead with a planned listing on the euro next amsterdam in the third quarter of 2021 and basically the idea is once universal music goes public then they will actually distribute shares to the shareholders of this back but there are also a few other complications within this deal for example bill atman is actually giving people who are investing into the space such as myself and maybe many of you guys watching early access to potentially a new spark of which you'll actually be merging with another company there's also a french media company called vivendi and they are the majority owner of universal music so they will of course benefit from this deal and the chinese tech giant tencent is also a minority stakeholder in universal music so what does universal music actually do is this a good company and has bilateral made the right decision well universal music houses some of the most legendary music brands so they've got the beatles they've got the rolling stones they've got abba now we did expect a merger with a company such as airbnb back in 2020 but instead we've got abba but yet almost every amazing music artist you can think of right now is part of the universal music group they've got eminem they've got maroon 5 they've got the weekend so what i do like about universal music straight off the bat checking out some of the artists which they have under their publishing group and i do like the fact that they have a lot of historic legacy brands they've got the rolling stones they've got the beatles these historic music catalogues which will not go out of fashion anytime soon but they're also great of partnering with brand new artists so i noticed there's quite a few new artists on here one more modern artist we've got adele here we've got jenny ako she's really good we've got justine bieber in here we've got mariah carey in here we've got chris brown in here um we've got the clash we've got coldplay we've got jason derulo we've got neil diamond disclosure which is sort of house music we've got florence the machine we've got future who's sort of quite a modern rapper we've got alicia keys we've got kendrick lamar we've got little yachty is also quite a modern rapper we've got lincoln park red hot chili peppers so really it looks like bilatman has actually purchased 10 of the future earnings from all the music streaming and obviously all the festivals and all the promotions from these music artists so hopping into the revenues right here we can see bill atman lacks free cash flow generating businesses which are growing their revenues and as you can see here they did have quite stable revenues around five billion euros in the past few years however they have started to increase their revenues very very recently perhaps this was due to festivals how does universal music make money so they identify and develop recording artists songwriters produces distributes and promotes music so the company offers a catalogue of recordings and songs across every music genre in addition it provides digital marketing and social media agency services to artists brands and festivals so to me universal music is a great company they have got a competitive advantage and that is the fact that they have these incredible artists the rolling stones beetles red chili peppers and also a lot of modern artists you've got dell and many many more on their publishing list and these are artists which if a streaming platform wants to actually play their music a small portion of that revenue will actually go to universal music so if you guys did find value in this video feel free to give it a big thumbs up that helps out tremendously the channel if you haven't subscribed yet and you do want more investing updates investing tips stock analysis then feel free to join the investing family by hitting that subscribe button and turning that notification bell on and i do hope that you found this update extremely valuable and i'd love to hear your thoughts what do you think of bill atman's choice of spark they're in talks with at the moment universal music do you think this is a good choice do you think that's a bad choice um do you think he should have gone for maybe more of a technology company maybe something like stripe maybe something like discord i'd love to hear your thoughts so please do comment below with that being said i hope you guys all have a tremendous day and i'll see you in my next video invest safe you
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