Clear Channel exits venture with DDB Mudra; Gour Gupta picks up 51%

MUMBAI: Clear Channel, one of the world's largest outdoor agencies, has exited its 50:50 joint venture with DDB Mudra that was formed in 2009. Gour Gupta, erstwhile CEO of Clear Channel Mudra and former CEO of Madison's Platinum Outdoor, has acquired Clear Channel India’s stake in the JV. While Gupta now owns 51%, the rest is with DDB Mudra. The company has been renamed Ignite Mudra.

“It is an exciting time to be a part of the marketing services industry,” Gupta said. “The success we have achieved as Clear Channel Mudra has given me the confidence to take the next step in our growth journey. Along with the team, I am excited at the prospect of what lies ahead for Ignite Mudra. We have already begun initiatives in emerging areas like sports and youth marketing.”

The company defines itself as a through-the-line communications agency with a special focus on out of home (OOH), promotions and retail marketing.

“Ignite Mudra is a future-ready organisation. Being digitally enabled… is now a part of the basic hygiene checklist for any organization, as has been the case with Ignite Mudra,” Gupta said. “We are here to ensure that we deliver brand solutions that solve our clients’ business challenges in the most effective and efficient manner possible.”

The client roster includes Bata, Budweiser, Clinton Health Access Initiative, Dunkin Donuts, Godrej, Healthkart, Honda, ITC, Michelin, Patanjali, Pepsico, Puma, Reliance Jio, Snapdeal, Sony, Telenor, Vodafone and Worldwide Media.