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Percept integrates all media companies into single entity

MUMBAI: The Percept Group has restructured and integrated its entire media businesses into one single entity, Percept Media, with immediate effect.

Currently, Percept has two media companies—Allied Media (the media planning, evaluation and buying unit along with the digital media services) and Percept Out of Home (the communications agency, providing solutions in the outdoor and rural media arena).

The leadership team of the newly created Percept Media vertical will comprise Percept Ltd COO Ajay Upadhyay as chief mentor to guide the integration process of the media vertical; and Percept One COO Sanjay Shukla, who will be responsible for directly supervising the entire integration and restructuring process as part of the Percept One portfolio.

Allied Media CEO PM Balakrishna and Percept OOH CEO Rajneesh Bahl will act as executive vice presidents. Milind Dewulkar will take charge as CFO of the newly created Percept Media vertical.

Last month, Allied Media CEO Shripad Kulkarni had exited the company, following which COO Balakrishnan was elevated to the position of CEO.

Percept Ltd believes that the restructure will enable the company to bring greater focus and offer better synergies and efficiencies between the various media arms, thereby presenting a wider array of services and solutions to stakeholders.

The restructuring initiative is in line with the evolving and dynamic changes in the M&E sector and will enable Percept to offer greater operational and functional efficiencies, claims the company.

The Percept Media leadership team will soon draw out a comprehensive plan encompassing the branding, structure, services, revenue, and business development strategy for FY16.