a multi agency pitch, the media duties for Times Business Solutions have been awarded to ZenithOptimedia. Sources close to the development have confirmed this to agencyfaqs!. Though the official documents on this agreement haven't been signed yet, this is expected to happen soon.
agencyfaqs! had reported earlier that the pitch for this business was called in August and there were four agencies in the fray.
Senior executives at ZenithOptimedia also declined to comment on the same grounds.
Times Business Solutions owns brands such as MagicBricks.com, SimplyMarry.com, and TimesJobs.com. mediaedge:cia is the incumbent agency and was brought on board in the early 2006.
According to the source, TBS has set aside a budget of Rs 45 crore. This expenditure is not significantly different from the previous year's media spends. At present, the creative duties for TBS are being handled by Mudra Communications.
ZenithOptimedia is a Publicis Groupe media agency. It offers services related to development of communications strategy through execution planning, negotiation and implementation.