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French Advertising Major Publicis buys Madhyam

14-December-2000
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French Advertising Major Publicis buys Madhyam

The $6-billion French advertising major, Publicis, is buying out Delhi-based ad agency, Madhyam, lock, stock and barrel for an undisclosed amount.

The 21-year old agency has a total capitalised billing of Rs 25 crore with clients like Hero Honda, Eicher and KLM. According to the industry watchers, Madhyam planned to sell out completely because it was becoming extremely difficult to fight the increasing dominance of international agencies in India. The acquisition would not see the top executives of the agency moving out.

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