Madison not for sale: Sam Balsara

With Mergers and Acquisitions (M&A) activities at a high this year Madison Media too has been in the news recently in this connection.  Several publications announced that the media agency would be up for sale given the fact that Sam Balsara, Chairman and Managing Director of Madison Media has not been keeping good health of late. It was also believed that Dentsu and WPP would be the likely buyers of the company and Madison may initiate the formal bidding process for the same shortly. There have also been speculations that Madison had even appointed an M&A specialist to assist in looking out for a potential buyer.

The fact that his daughter Lara Balsara is still young to take over the reigns from her father and yet to be involved in the company affairs further fuelled  rumours about  Sam Balsara’s reasons to sell  the company.

Madison India’s only home grown media agency started by Sam Balsara has a 11.2% market share worth 630 million in billing hence making it an interesting option for international players who are looking to increase  their market share in India. Madison has been  outperforming competitors that come with global lineage and backing. While Madison World has various entities across communication verticals, Madison Media would be a trophy acquisition for buyers of the company. Their client portfolio value is second only to WPP's Mindshare and it has a blue-chip portfolio of long-time clients. Their clients include Cadbury, Airtel and General Motors.

Sam Balsara however has rubbished these rumours. He says there is absolutely no truth in the information being published in the media and  confirmed that there has been no significant changes at Madison in terms of a potential partnership with any  global holding company.

Confirming the same to Adgully Mr.Balsara said, “I can say with all the emphasis at my command that we have not appointed any M&A consultant in India or in any part of the world to 'sell' Madison.” He further added , “ Our position on this subject continues to be the same as it has been for the last decade and a half: that we are open to evaluating bringing in a joint venture partner provided what the partner can bring in can strengthen or benefit Madison's clients, employees and shareholders - in that order.”