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WPP to acquire minority stake in Germany’s Hirschen Group
MUMBAI: WPP has agreed to acquire a significant minority stake in Germany’s independent agency Hirschen Group.
Following the investment, Hirschen Group will partner with WPP’s wholly owned agency, J. Walter Thompson Company. The stake acquistion is subject to regulatory approval.
Hirschen Group employs over 500 people in nine offices and provides integrated campaign services including advertising, public relations, public affairs, consulting and strategy. Bernd Heusinger and Marcel Loko founded the company in 1995. Martin Blach joined as CEO in 2005.
The existing team will continue to manage Hirschen Group, which will maintain its independent positioning, whilst being part of the J. Walter Thompson and WPP networks.
Hirschen Group’s revenues for the year ended 31 December, 2014 were approximately EUR 37.3 million, with gross assets at the same date of approximately EUR 17.0 million.
This investment continues WPP’s strategy of developing its services in fast-growing and important markets. Germany is WPP’s fourth largest market after the US, UK and Greater China.
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.
