MAM
Vice, WPP sign multi-million dollar ad deal
MUMBAI: Vice and WPP’s media investment unit GroupM have signed a multimillion-dollar advertising deal that will take advantage of the millennial-focused media company’s international expansion.
Vice co-founder and CEO Shane Smith and WPP CEO Martin Sorrell said that they agreed that millennials were the future. They were under-serviced, and the companies had to create more content.
The particulars of the deal involve Vice working with GroupM to use Vice’s insights, content and data to build an advertising platform across all of Vice’s global multi-screen and over-the-top properties. The deal was announced at the Dmexco conference in Cologne, Germany.
The deal is worth hundreds of millions of dollars in ad spending, according to Smith. A Vice spokesperson later added it is a multi-year, multi territory deal.
GroupM handles over USD 102 billion in advertising billings, according to research company Recma. GroupM said it handles one out of three ads globally.
Sorrell said that there were some difficulties working with Google and Facebook, and that there’ was a need to find another force.
In June, Vice announced plans to expand its presence to 51 territories, including having a TV, mobile and digital presence in India and the Middle East and TV content throughout Africa.
It also will add a 24-hour TV channel in Australia and New Zealand, where it already has a robust digital and mobile presence. Vice’s U.S. cable channel Viceland launched in February 2016, and it’s nightly HBO news show is slated to begin on 10 October.
WPP at present has an 8.5 per cent stake in Vice. At one point, it owned up to one-tenth of the company but has since sold some shares. Source: cnbc.com
MAM
PwC India announces leadership change in Deals practice
Shashank Jain steps down as co-leader after nearly three decades with the firm.
MUMBAI: When one dealmaker steps off the pitch, another is ready to take the baton because in the fast-moving world of transactions, the game never really stops. PwC India has announced a leadership transition in its Deals practice, with Shashank Jain stepping down from his role as co-leader to pursue an opportunity in the industry. The practice will continue to be led by Mohit Chopra, ensuring continuity and sustained growth momentum.
PwC India partner and leader for advisory dinesh Arora paid tribute to Jain’s contributions. “We deeply appreciate the significant contributions made by Shashank over close to three decades he has spent with PwC, particularly his defining role in shaping and strengthening our Transaction Services practice in India,” he said. Arora highlighted Jain’s support for clients through some of the most complex and significant transactions in the Indian market, noting his deep technical expertise, sound judgment and nuanced understanding of the evolving M&A landscape.
The Deals practice remains a key growth driver for PwC India, and the firm expects continued expansion under Mohit Chopra’s leadership. He will continue to guide clients through complex transactions and transformational business moments, building on the strong foundation established over the years.
Reflecting on his journey, Shashank Jain said, “I have had an exceptional journey at PwC. I owe my growth and learning to the nurturing environment and leadership development that PwC provided.” He added that he had been working closely with Mohit and the larger team to ensure a smooth transition and expressed confidence that Chopra would take the Deals practice to newer heights.
From intern to respected deals leader, Shashank Jain has clearly closed many successful transactions and now, it seems, he’s ready to strike a new deal of his own.
