MAM
GroupM acquires majority stake in Turkey’s directComm
MUMBAI: WPP’s GroupM has acquired a majority stake in directComm Marketing Group, a leading provider of integrated direct marketing services in Turkey.
directComm specialises in digital marketing, customer relationship management, events and social media. Clients include Turk Telekom, Siemens and Sony Mobile. Founded in 2000 and based in Istanbul, directComm employs around 70 people.
Unaudited revenues for the year ended 31 December, 2014 were approximately $6.5 million, with gross assets at the same date of approximately $3.2 million.
This acquisition continues WPP’s strategy of investing in fast growing and important markets and sectors and strengthening its digital capabilities. WPP’s digital revenues were $6.9 billion in 2014, representing 36 per cent of the Group’s total revenues of $ 19 billion. WPP has set a target of 40-45 per cent of revenue to be derived from digital in the next five years.
Turkey is one of the Next 11 growth economies where WPP companies (including associates) generate revenues of over $1 billion and employ over 10,000 people. In Turkey itself, WPP companies (including associates) generate revenues of around $120 million and employ approximately 1,300 people.
MAM
Dish TV shareholders approve three independent directors
99.49 per cent vote of confidence strengthens board as company expands into connected TV, e-commerce and OTT.
MUMBAI: Dish TV has just been served a near-perfect vote of confidence and the shareholders have dished it out in style. Shareholders of the DTH operator have approved the appointment of three new Independent Directors with an overwhelming 99.49 per cent approval. The three appointees are Mr Arun Kumar Kapoor, Ms Heena Naishadh Bhatt and Mr Ashok Anant Paranjpe.
The strong mandate reflects continued investor faith in the company’s strategy, disciplined execution and long-term value creation. It comes as Dish TV focuses on stabilising its core DTH business while actively scaling new verticals connected TV platform VZY, B2B e-commerce ShopZop, and OTT service Watcho to build a more diversified and resilient growth trajectory.
Dish TV India Limited, CEO & executive director Manoj Dhobhal said, “We are encouraged by the shareholders’ approval of the appointment of the Independent Directors and sincerely thank them for their continued trust and confidence. The Board is already benefiting from the Directors’ collective experience, which will further sharpen strategic focus and support disciplined execution.”
With a fresh, strengthened board in place, Dish TV is well positioned to navigate the evolving media landscape. In a sector where every percentage point matters, a 99.49 per cent thumbs-up is the kind of ringing endorsement that suggests the company’s recipe for the future is already tasting right.
