ITC Ltd has decided to move its media business to Madison World. Madison will now set up a dedicated unit to handle the new mandate.
When contacted, Sam Balsara, chairman and managing director of Madison World, confirmed that Madison had been awarded the account, but refused to comment beyond that directing us to the client.
Hemant Malik, chief operating officer – trade marketing and distribution at ITC Ltd, said, “ITC has been engaged in the Media AOR review once every three years. This year, post an exhaustive review process, ITC has decided to award the Media AOR responsibilities to a specially created media agency unit of Madison World.” On the responsibilities that will be assigned to Madison, he said, “The mandate covers all media - excluding digital and outdoor.” The new agency is expected to be fully functional by January 1, 2011.