Midnight Raids Shake Up India's Advertising Giants

India's antitrust watchdog, the CCI, conducted extensive raids on global advertising agencies and top broadcasters for alleged price fixing, targeting major players like GroupM, Interpublic, Publicis, and Dentsu. The operation, linked to shifts in India's $18.5 billion ad market, saw data seized and executives grilled, with implications for industry penalties.

In an unprecedented move, Indian antitrust officials have executed a series of raids targeting global advertising powerhouses for alleged price-fixing conspiracies. The sweeping action implicates industry giants GroupM, Interpublic, Publicis, and Dentsu, and involves top broadcasters, as officials intensify investigations into the billion-dollar Indian ad market.

The Competition Commission of India initiated these raids early Tuesday at multiple sites, extending beyond 24 hours. This crackdown occurs amid transformative shifts in the advertising sector, following a significant merger between Walt Disney and Reliance's Indian assets. As the IPL cricket tournament looms, the stakes are higher than ever for advertisers.

Sources report that the CCI has seized emails and cloned mobile phone data as part of its comprehensive probe. With no official comment from the media agencies, the probes underscore potential financial repercussions, including substantial fines, as authorities delve into alleged collusion over advertising prices and discounts.

(With inputs from agencies.)