Publicis Groupe and Havas Network vie for majority stake in Madison World: Report

New Delhi: Publicis Groupe and Havas Network have entered separate negotiations to acquire a majority stake in Madison World, as per news reports. 

The news reports stated that Sam Balsara, the founder of Madison World, is open to aligning his business with a multinational network to bolster its growth and capabilities.

Madison World, established by Balsara in 1988, has long been a prominent player in India’s advertising industry. The company’s estimated gross billings exceeded Rs 5,000 crore in fiscal year 2024.

Quoting sources, the report indicated that Balsara is keen to sell a controlling stake to enhance Madison’s scale and global reach.

Publicis Groupe, the French advertising powerhouse that owns agencies such as Leo Burnett, Saatchi & Saatchi, and Digitas, is no stranger to India’s market. With major clients like PepsiCo and Skoda already under its belt, acquiring Madison could further cement its dominance in the region. 

Similarly, Havas Network, which operates Havas Creative and Media & PR Pundit in India, sees Madison as an opportunity to expand its footprint, leveraging its existing portfolio that includes clients like Reckitt and Tata Motors. Both companies declined to comment officially on the negotiations when approached.

It is to be noted that the past talks with other networks, like WPP a decade ago, fell through overvaluation disputes.

As of now, the terms of the potential deal remain under wraps, with negotiations ongoing.