Industry sources have informed that Allied Media will take over responsibility for the Future Group’s media duties from April 2009. There was no pitch process involved in the development. FutureWorks will handle the business until March-end 2009.
Officials from neither Future Group nor the agency were available for comment. Senior industry sources, however, informed that the development had been in the offing ever since Future Group’s Kishore Biyani agreed in principle with Percept Holdings to take a stake in Allied Media.
Starcom Worldwide and The Future Group have mutually decided to end their relationship. Starcom’s FutureWorks was handling the media duties of the retail giant.
Source: Bombay Adclub