Ackman’s $64B UMG Bid Sets Ovitz as Chairman, Grainge Keeps the Helm
Pershing Square’s Bill Ackman is bidding about $63.5–$64 billion to buy Universal Music Group, naming Michael Ovitz as chairman and keeping Lucian Grainge as CEO; the plan envisions a Berkshire Hathaway‑style entertainment conglomerate with an NYSE listing possibility, while the board reviews the proposal and Bolloré’s stake adds a wildcard to the deal.