Mediabrands Formalizes India-based Collaboration With Joint Venture
Interpublic Group's Mediabrands on Thursday said it set up of a majority-owned joint venture with India-based digital marketing company Interactive Avenues. In India, the joint venture will assume the name Reprise Media.
The new business unit is expected to specialize in search and social marketing, while offering a full scope of digital services, including digital media strategy and investment, digital creative development, campaign implementation and post activity analysis. Anjali Hegde, one of Interactive Avenue's founding partners, will serve as CEO of the new unit. Hegde will report to the new Reprise Media, India Board as well as Mediabrands Asia Pacific Regional Leadership.
Mediabrands will hold a 51% stake in the joint venture and Interactive Avenues will hold the remaining 49%. The partnership formalizes the long-time working relationship between the two operating units. Presently, Mediabrands says it oversees about 1,000 media and marketing experts across the Asia Pacific region.--Gavin O'Malley