Rediffusion, Y&R go their separate ways after 24 years; WPP buys Madhouse

For Rediffusion, the gains are bigger, since it paves the way for the emergence of one of India's largest independent agencies

A long-standing, bitter feud between a foreign advertising giant and partners of an Indian agency came to an end on Thursday when WPP, the world's largest advertising and marketing communications group, announced that it was exiting its 24-year joint venture with local agency Rediffusion.

Indian partners Arun Nanda and Ajit Balakrishnan, co-founders of Rediffusion, have acquired the combined 40 per cent stake of WPP agency Y&R (26.67 per cent) and Dentsu (13.33 per cent), wresting full control of the agency. Before the transaction, the agency was branded as Rediffusion-Y&R, which will now go back to being called Rediffusion.

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