Even while the information on ongoing negotiations between MindShare, media agency for Reliance Infocom and media houses is floating around, industry is abuzz with the news that MindShare has lost the account.
As reported earlier, MindShare had bagged the prestigious account in a multi-agency pitch, which included Starcom, Madison, Mudra OMS and others.
And now, obviously, speculations are on, as to which agency it has moved to and why? The names that are being mentioned more than others as the new media agency for Reliance Infocom are Optimum Media Solutions of Mudra and Prachar Communications.
One set of industry buzz claims that it has gone to OMS lock stock and barrel. However, according to other sources, MindShare would continue to handle planning on the account, while buying would be handled by Prachar communications, agency known for its street smart deals, specially from TV channels.
The Mumbai based 10 year-old agency claims a capitalised billings of approximately Rs 125 crore. The clients in its kitty include Emami, Lux Undergarments, ADD Pens, Today's Pens and Echolac.
Another scenario that is being talked about is OMS handling planning, and buying for other media, while buying for TV channels would go to Prachar.
What gives a lot of weight to the speculation is that Mudra is already handling the creative duties for Reliance info. Its Chairman A G Krishnamurthy has been camping in Mumbai for more than a week 'working on something very important and confidential.' Inspite of our repeated attempts, he refused to comment on this devolopment.
Puzzled? So are we, as neither the client nor any of the agencies were ready to comment on it. However, it is has opened the Pandora's box, and we would keep you posted.