AD Agencies
Publicis and Havas in adland tug-of-war for Madison?
MUMBAI: Publicis Groupe and Havas Network are in separate talks to snap up a majority stake in Madison World, India’s last large independent advertising group, if media reports are to be believed.
Founder Sam Balsara, who set up the agency in 1988, is looking for a deal that strengthens Madison’s future and aligns it with a global network.
“Madison has always been open to a tie-up, but the terms must be right,” said chairman & managing director Balsara. He declined to reveal the valuation the agency is seeking. Publicis and Havas, meanwhile, stay tight-lipped.
With an estimated Rs 5,000 crore in gross billings in fiscal 2024, Madison makes its money charging 15–20 per cent in fees. Its roster boasts over 500 clients across media, digital and outdoor, including Asian Paints, Saffola and Blue Star. But not all news is good—Madison recently lost the Godrej Consumer Products account.
This isn’t the agency’s first dance with global suitors. A decade ago, talks with WPP and Dentsu over a 75 per cent stake sale fizzled out over valuation gaps. Now, with Omnicom snapping up Interpublic Group (IPG) to create an ad behemoth, other networks are scrambling to shore up their portfolios.
Publicis, which leapfrogged WPP last year to become the world’s largest ad group, counts PepsiCo, Diageo and Skoda among its big clients in India. Havas, with brands such as Reckitt, Tata Motors and Swiggy, runs 25 agencies in India across creative, media and health.
Madison isn’t new to parting ways with its ventures. In October 2022, the Balsara family fully exited MediaCom, a joint venture with WPP, selling its remaining 26 per cent stake.
Now, the question is: will Madison go global, or will it like in the past stay fiercely independent and just let suitors court it?
AD Agencies
Publicis Brazil’s creative chief Mauro Ramalho lands the jury chair at Abby Awards 2026
Mauro Ramalho brings 25 years of global advertising firepower to the new creative commerce, use of data and B2B category at Goafest
GOA: The Abby Awards 2026, powered by The One Club and The One Show, has appointed Mauro Ramalho, chief creative officer of Publicis Brazil, as jury chair for its newly launched creative commerce, use of data and B2B category. The announcement, made on 18 March, signals the awards’ intent to bring serious international muscle to a category that sits squarely at the intersection of creativity and commercial performance.
Ramalho is not a name that needs much introduction in global advertising circles. Over 25 years spanning three countries, he has worked at some of the industry’s most creatively restless addresses. At AKQA in San Francisco, he worked across McDonald’s, Nike, Fox, Target, Kraft Foods and GAP, and helped lead “The Lost Ring” for McDonald’s, one of the first alternate reality campaigns and among the most awarded projects of its era. He later moved to Organic in Toronto, bridging the Detroit and Toronto offices on Dodge, Jeep and Chrysler, before spending over a decade building CUBOCC into one of Brazil’s most iconic and innovative independent agencies, which subsequently joined the IPG network.
A stint at FCB followed, where Ramalho led integrated work bridging online and offline, before he joined R/GA São Paulo as vice-president and executive creative director, stitching together the São Paulo office with New York, London, Portland and California on global clients including Verizon, Google, Meta, Samsung, American Express and Heineken. He now heads Publicis Brazil as its chief creative officer.
His trophy cabinet includes Clios, Effies, TikTok awards and MMA Smarties, and he has served on juries at the Andys, TikTok and the Lisbon Awards.
The Abby Awards 2026 is scheduled to take place at Goafest 2026 on 20, 21 and 22 May in Goa.
For Indian advertising, landing a jury chair of Ramalho’s calibre for a category built around data-driven creativity and commerce is a statement of ambition. Goafest just raised its own bar.
