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WPP’s GroupM, the major global media investment group, today announced it is acquiring a majority stake in MediaCom India, a joint venture between GroupM India and Sam Balsara, the principal shareholder of the Madison Media group. While MediaCom India will continue operating as an independent brand, the agency will have the advantage of access to GroupM’s global infrastructure. This acquisition continues WPP’s strategy of investing in fast-growth markets, new media and digital, a press release said.
CVL Srinivas, CEO, GroupM South Asia, said, “MediaCom India has won several prestigious clients, developed a strong digital presence and has delivered award-winning campaigns for clients. MediaCom India can harness our world-class media infrastructure to provide more value to its clients and people.”
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