Channel Communications India has announced plans to restructure its nationwide operations. Clear Channel is an out of home (OOH) media company, which enjoys a presence in 49 countries. From August, the company plans to separate its agency of record (AOR) media buying operations and asset ownership business into separate entities.
Mark Thewlis, regional president, Clear Channel Outdoor Asia Pacific, says, "Our success as an OOH media buyer has made it increasingly difficult to maintain our focus on becoming India's number one OOH media owner. By separating the two divisions, we can ensure that we have the correct focus going forward, without foregoing the benefits of being one of the best in AOR operations in India. We want to be positioned to take advantage of all opportunities that present themselves in the future."
Carruthers adds, "There is huge opportunity provided by the asset business in India at this point of time, so we thought this the appropriate time to take action."
The company plans to use a new brand name for the AOR business, but has not released the name as yet.
Clear Channel Outdoor is one of the world's largest outdoor advertising companies, with close to one million displays in 49 countries across five continents. It also operates airport, rail, taxi and mall advertising businesses worldwide.