Madison planning Platinum Media as a second agency with Basabdatta Chaudhury at the helm
19 August 2008
Madison communications is set to launch a a second agency by end of the year.
The new agency is to be headed by Basabdatta Chaudhury, and will be based in Delhi. Basabdatta Chaudhury is presently CEO of Madison Media Plus.
Named Platinum Media, Madison says the second agency would enable it to grow its large talent pool while providing important opportunities for independent responsibilities and helping it to address competing business.
Speaking to the media, Madison Communications chairman Sam Balsara said the mandate for the new agency would be no different for what is was for Madison Media. Madison World has 20 units spanning 10 specialised functional areas, including media, outdoor, creative, sports, PR, retail and mobile.Platinum Outdoor is also an affiliate that was launched a year ago.
Madison Media would share common backend resources such as finance, accounting, and systems with Madison Media. According to Balsara, the two agencies would compete in certain ways, while not compete in others.
Since April 2008, Madison Media is reported to have secured business worth Rs325 crore, having won the media mandate for IndianOil, Max New York Life, Spice Jet, Bharti AXA Mutual Fund, Bharti AXA General Insurance, Bharti Retail and Bharti DTH.
In April 2008, Sam Balsara, had acquired the majority stake in MediaCom India Private Limited.