planning and buying agency, Madison Group, will soon have a sister agency in the form of Platinum Media. The new agency will be headed by Basabdutta Chowdhuri, who is currently the chief executive officer of Madison Media Plus.
Speaking to afaqs!, Chowdhuri says, "The idea of having another agency will address the issues conflicting businesses within the present agency. The new entity will be an independent organisation and a good alternative to handle and manage our growing business."
Chowdhuri refused to divulge any further details regarding the organisational structure or mandate of the agency, as she believes it's too early to comment on such things, since work is in progress on finalising the finer details of the project.
In 2008, Madison Media Plus added a host of new brands to its name, bagging business worth Rs 325 crore. This includes the media duties for Spice Jet, Max New York Life and various verticals of the Bharti stable: Bharti AXA Mutual Fund, Bharti AXA General Insurance, Bharti Retail and Bharti DTH. These wins came on the back of its existing prestigious clients, such as BBC World Services Trust, Bacardi, Axis Bank, AOL and the Lodha Group.
The new media agency is another addition to the host of existing media and advertising verticals of Madison World. At the time of filing the story, Sam Balsara, chairman and managing director, Madison Communications, was not available for comment.