OAP parts ways with Rediffusion-Y&R; Selvel Advertising becomes majority stakeholder

The Outdoor planning and buying company Outdoor Advertising Professionals (OAP), which was set up by its stakeholders Rediffusion-DY&R, Selvel Advertising and Abhijit Sengupta, has ended its relationship with its strategic investor, Rediffusion.

Rediffusion-Y&R has sold off its stake to Selvel Advertising and exited the joint venture (JV). Selvel Advertising now becomes the majority stakeholder in the venture.

In an official communiqué, Sengupta says, "There has been a lot of contribution from Rediffusion-Y&R in what OAP is today as an organisation. It was built from scratch and we had a lot of learning and sharing. However, focus and priorities change and the split is a result of that. Rediffusion-Y&R is exiting as an equity holder, but the fact is that OAP is still working with Rediffusion."

There will not be any major structural and functional change in the day-to-day operations of OAP since it has been scouting, developing and managing the entire client portfolio on its own. Sengupta adds, "Since we were and are absolutely independent in operation and infrastructure, this change of shareholding pattern will have no bearing on our functioning and business operations."

According to Sengupta, the development will open doors for OAP to pitch for those accounts which are competing with Rediffusion-Y&R's portfolio. Additionally, OAP can also work with mid-sized advertising and media agencies which do not have an outdoor arm of their own.

Noomi Mehta, chairperson, Selvel Advertising, says, "With the assistance of Rediffusion, OAP managed to introduce a sound and professional system that is high on integrity and ethical values. We at Selvel, are very happy with the outcome of our association. But, from time to time, the needs of each organisation change and different priorities emerge. Rediffusion-Y&R realised this and wanted to do the right thing by exiting OAP and quitting as equity partners."