Interactive Avenues has entered a joint venture with the New-York based Mediabrands, the media holding company within Interpublic Group. The joint venture will assume the name of Reprise Media. Mediabrands will hold a 51% stake in the joint venture and Interactive Avenues will hold the remaining 49%. Through this transaction, the new business unit will specialize in search and social marketing and also offer a full scope of digital services which include digital media strategy and investment, digital creative development, campaign implementation and post activity analysis. Anjali Hegde, one of Interactive Avenue’s founding partners will assume to role of CEO, Reprise Media, India, and will report to the new Reprise Media, India Board as well as Mediabrands Asia Pacific Regional Leadership.
Commenting on this JV, Hegde said, “Through Interactive Avenue’s leadership in digital marketing and Mediabrands’ leading global agency network, the possibilities for Reprise Media India have no bounds. Our clients will be able to access the best of both worlds as well as the opportunities presented by accelerated growth in India’s digital marketing space.”
Tara Comonte, COO, Mediabrands, said, “Mediabrands is committed to aggressive business development across our key markets in Asia Pacific and of course, India is critical in that respect. We have enjoyed a very successful partnership with Interactive Avenues for the last two years and this new venture allows us to formalize the relationship and to reinforce our collective commitment to growing our digital business together in one of the most vibrant global markets today.”
Along with the JV, Interactive Avenues will also continue to operate as an independent digital marketing solutions company. Final details of the transaction will be presented to the IPG Board next month.