Billionaire Bill Ackman Seeks to Buy Universal Music Group

Pershing Square Capital Management offers to acquire the world's largest record label in a complex transaction.

Apr. 7, 2026 at 10:57am

Got story updates? Submit your updates here. ›

A photorealistic studio still life featuring a sleek turntable, vinyl record, high-end headphones, and vintage microphone, symbolizing the business of music in a clean, editorial style.A high-end studio still life captures the premium, polished essence of the music industry as Pershing Square seeks to acquire the world's largest record label.Santa Monica Today

Billionaire investor Bill Ackman's Pershing Square Capital Management has submitted a proposal to acquire Universal Music Group, the world's largest record company behind artists like Lady Gaga, Kendrick Lamar, and Sabrina Carpenter. The proposed transaction would merge Universal Music with Pershing Square SPARC Holdings, a special-purpose acquisition company, and list the combined entity on the New York Stock Exchange.

Why it matters

This move by Ackman and Pershing Square represents a significant shift in the music industry, as one of the world's largest asset managers seeks to take control of the leading global record label. The transaction could reshape the dynamics of the music business and impact how top artists are signed, developed, and promoted.

The details

Under the proposal, Universal Music shareholders would receive €9.4 billion ($10.9 billion) in cash, or €5.05 per share, as well as 0.77 shares of the new entity for each Universal Music share they hold. The resulting company would be listed on the NYSE, moving Universal Music's current listing from Europe to the United States. Ackman previously tried a similar maneuver in 2021 to acquire a 10% stake in Universal Music, but failed to buy the entire company at that time.

  • Pershing Square submitted the proposal on Tuesday, April 7, 2026.
  • The complex transaction is expected to close by the end of 2026.

The players

Pershing Square Capital Management

A hedge fund founded and led by billionaire investor Bill Ackman, who is also the CEO of the firm.

Universal Music Group

The world's largest record company, home to artists such as Lady Gaga, Kendrick Lamar, and Sabrina Carpenter.

Bill Ackman

The founder and CEO of Pershing Square Capital Management, who is leading the effort to acquire Universal Music Group.

Got photos? Submit your photos here. ›

What they’re saying

“Universal Music's stock price has 'languished due to a combination of issues that are unrelated to the performance of its music business and, importantly, all of them can be addressed with this transaction'.”

— Bill Ackman, CEO, Pershing Square Capital Management

“The resulting company will be listed on the New York Stock Exchange, moving Universal Music's listing from Europe to the United States.”

— Pershing Square Capital Management

What’s next

The proposed transaction is expected to close by the end of 2026, pending approval from Universal Music's board of directors and shareholders.

The takeaway

This acquisition attempt by Pershing Square Capital Management and Bill Ackman represents a significant shift in the music industry, as a major asset management firm seeks to take control of the world's largest record label. The move could have far-reaching implications for how top artists are signed, developed, and promoted in the years to come.