Dentsu In Advanced Talks To Buy Network18′s Stake In Webchutney
Mainline advertising establishments are looking at acquiring digital upstarts to boost their relevance in a future which will be completely digital as far as advertising and marketing is concerned. JWT acquiring a majority stake in Hungama Digital, Publicis acquiring iStrat, MarketGate, Resultrix and Indigo Consulting and Aegis Media buying Communicate 2 are very clear indicators of what is in store for Indian advertising.
Now, The Economic Times is reporting that Dentsu, the Japanese advertising major, is in advanced talks to acquire Network18’s stake in digital agency Webchutney. Webchutney has been a prominent digital player since 1999 and has developed quite a reputation for itself. Network18, the Indian television and digital media group has a 70.06% stake in Webchutney and is looking to sell it to prospective buyers. This is in keeping with their strategy of focusing on its core businesses while offloading stakes in other ventures.
Dentsu on the other hand has been planning to become a major player in the Indian advertising space. If the deal goes through, this will be the first Indian digital acquisition for them. The company recently acquired a majority stake in the highly creative ad company, Taproot. The addition of Webchutney, another creative component in the digital space, will definitely cement Dentsu’s position in the country.
Executives from Network18, Dentsu and Webchutney have neither confirmed nor denied the report.
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2012-12-21 02:03:54
Source: http://www.watblog.com/2012/12/21/dentsu-in-advanced-talks-to-buy-network18s-stake-in-webchutney/
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