Mudra launches Out-of-Home JV with Clear Channel

- Clear Channel Mudra LLP to be Mudra Group's third OOH offering

Chennai, 12 October, 2009: Mudra Group has announced that it is launching an OOH specialist venture, Clear Channel Mudra LLP, in partnership with Clear Channel Outdoor. The venture will offer clients complete OOH solutions- strategy, creative solutions, planning, buying and reporting- while utilizing Clear Channel's global knowledge with Mudra's experience in the Indian market.

Commenting on the venture, Pratap Bose, CEO- Mudra MAX said, "I think we understand the medium better than anybody else, but there is always room for improvement. I think there is a huge gap in the consulting area, in creating development work and in the actual planning, which Clear Channel's access to global best practices will help us resolve. We see Clear Channel as a great partner and a great name to be associated with. Fundamentally, my vision for the OOH space is to garner the maximum share-of-wallet that the OOH buyer has to offer."

Adding to this Adille J Sumariwalla, Chairman & Managing Director, Clear Channel Mumbai and Managing Director & CEO, Clear Channel Mudra LLP said, "Clear Channel is the largest OOH media owner in the world whose strength is in international best practices, innovation and technology. However, to provide full service to a client, which would include creative solutions, implementation, client servicing, monitoring and reporting for clients who are looking for a presence in rural areas, we needed to tie up with an agency strong in these areas. Secondly, Mudra has a great team to partner with and as far as OOH in India is concerned, Pratap Bose's contribution to the industry as a whole is unmatched."

The venture will draw upon Clear Channel's global presence and access to the latest innovations and technologies to enable Indian clients to plan and execute transnational campaigns with ease. Similarly, international clients looking to enter India will also benefit from Mudra's reach, experience and expertise in the remotest parts of the country.

Clear Channel Outdoor, of which Clear Channel Mumbai is a part, operates in 50 countries, with experience of 3500 municipal contracts across the globe, partnerships with 270 airports and over 1 million display faces world- wide. To this, Mudra adds its reach across 1,75,000+ villages, 4,000+ towns across 13 states; as well as direct-to-consumer activities in 75,000 villages and direct contact in 37,000 schools. Clear Channel Mudra LLP will therefore be a true marriage of global expertise with local experience.

Source : Equity Bulls

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