WPP acquires remaining 26% stake in MediaCom from Balsara family

Deal size not known immediately, marks the exit of the Balsaras from the agency

WPP, Sam Balsara and Lara Balsara Vajifdar on Friday announced that WPP had purchased the remaining 26 per cent stake of the Balsara family in media agency MediaCom.

The deal will mark Balsara family’s exit from the agency. The deal could not be ascertained immediately.

“This innovative partnership we invested in nearly 15 years ago has been a great success for all parties. It has established MediaCom in India as a fast-growing and highly respected agency by advertisers,” Balsara said.

A statement from MediaCom said that after WPP’s decision to merge agencies Essence and MediaCom globally in April, Sam Balsara