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Mumbai Feb. 21 Publicis Groupe Media has consolidated the media buying functions of Starcom MediaVest Group and Zenith Optimedia to form India Media Exchange or IMX.

Building scale and size into its media operations, the new entity of Publicis Groupe is expected to become the number two player in the media buying business, after WPP's Group M.

With combined billings turnover of Rs 1,500 crore, IMX would be headed by Mr Shyam Shankar as President. A team of media buying experts from both agencies would support it.

Speaking to newspersons, Mr Jack Klues, Chairman of Publicis Groupe Media, said: "At a time where media agencies are nor merely buying space and time, but creating opportunities that did not exist before, or buying something that was not previously available for sale, we realised that opportunities for collaboration are immense and unexploited."

He added: "IMX would customise the services and solutions that are context-specific and leverage it to create scale and convert it to create an advantage for clients."

More Stories on : Restructuring | Radio/TV

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