Mumbai, India – Global creative network WPP has announced that it has acquired the remaining 26 per cent stake in MediaCom Communications in India. MediaCom in India is treated as a JV between WPP and independent communications group Madison World. Following WPP’s decision to merge Essence and MediaCom globally, top management of Madison World has agreed to exit MediaCom to enable the merger.
The initial agreement between WPP and Madison World dates back to 2008, under which the company owned 51%. In 2017, Madison World sold 25% to WPP. The unique deal between WPP and Madison World contributed to the rapid growth that MediaCom experienced in India.
MediaCom Communications in India had offices in Mumbai, Delhi, and Bengaluru with a team of 165. It has done media planning and buying for a number of top brands such as Procter & Gamble and Dell.
Sam Balsara, chairman of Madison World, said, “This innovative partnership we invested in nearly 15 years ago has been a great success for all parties. It has established MediaCom in India as a fast-growing and highly respected agency by advertisers.”
Nick Lawson, Global CEO of MediaCom, commented, “It has been a pleasure working with Sam Balsara and Lara Balsara as we grew this successful business in India. We will build on that legacy to deliver the agency model our clients want for the future – founded on brilliant strategy and brand-building capabilities, with pioneering digital expertise running throughout.”
Sam Balasara and Lara Balasara are Madison World’s chairman and executive director, respectively.
It was in April 2022 when the EssenceMediacom merger was officially announced. The fusion combines the digital and data-driven capabilities of Essence with MediaCom’s scaled multichannel, audience planning, and strategic media expertise.
