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The Competition Commission of India (CCI) has leveraged its leniency program to crack down on alleged cartelization and price-fixing in the media advertising industry. The leniency program, designed to encourage whistleblowers within cartels to come forward, played a key role in uncovering alleged collusion between major media agencies and broadcasters. However, the CCI officials were also probing media agencies around the commissions and guidelines framed by the industry bodies. 

The CCI raids conducted at offices of Dentsu, GroupM, Publicis, IPG and Madison alongwith industry bodies AAAI, ISA and IBDF on Tuesday continued till Wednesday morning. Sources close to the development stated that the officials took statements from the agency heads, collected data and asked questions around the commissions and the guidelines set by AAAI around commissions and ad rates. 

Akshayy S. Nanda, Partner at Saraf and Partners, emphasized the effectiveness of leniency programs in detecting and dismantling cartels. “These regulatory and investigating agencies have developed robust methodologies and programs, such as leniency programs, to effectively combat cartel activities. Leniency programs have significantly impacted the discovery and prosecution of cartels by incentivizing members to come forward with crucial evidence. These programs reduce fines or offer immunity to the first cartel member who cooperates with authorities, thereby destabilizing the cartel's secrecy.”

Nanda further noted, “The introduction of leniency programs has led to a notable increase in successfully prosecuting the cartels. By providing a safe avenue for whistleblowers, these programs have uncovered cartels that might have otherwise remained hidden, enhancing the overall effectiveness of anti-cartel enforcement. It is possible that the recent raid conducted by the CCI was on account of one of the companies blowing the whistle on the alleged price-fixing arrangement.”

Leniency programs reduce fines or offer immunity to the first cartel member who cooperates with authorities, thereby destabilizing the cartel's secrecy. The introduction of leniency programs has led to a notable increase in successfully prosecuting cartels.

CCI's approach 

The investigation aligns with Section 3(3) of the Competition Act, 2002, which addresses anti-competitive agreements, particularly horizontal agreements between enterprises engaged in similar trade or services, including cartels. Such agreements are presumed to cause an "appreciable adverse effect on competition" (AAEC) if they involve price-fixing or other anti-competitive practices.

According to CCI lawyers, proving a violation of Section 3(3) requires establishing an anti-competitive agreement between cartel members. The CCI must first demonstrate the existence of such an agreement, which can include any formal or informal arrangement, understanding, or action in concert. While direct evidence such as contracts, emails, or meeting records is ideal, the CCI often relies on circumstantial evidence like parallel pricing, identical bids, or communication via trade associations to infer collusion.

The CCI also considers "plus factors," additional indicators beyond mere parallel behavior, such as suspicious timing of price changes or communication records that suggest coordinated actions. However, unilateral price increases without evidence of coordination do not automatically constitute a violation.

Aniket Ghosh, a competition lawyer, highlighted the challenges of proving collusion: “To establish a cartel, the CCI needs to demonstrate an agreement—formal or informal—between media agencies and/or broadcasters showing that they colluded to fix ad prices. This can be done by examining emails, WhatsApp messages, meeting records, communications with third parties, and interviewing employees. Any agreement between competitors to fix prices or reduce competition is presumed to cause harm to competition. Once an agreement is identified, the burden shifts to the investigated parties to prove it does not harm competition, requiring them to demonstrate benefits or necessity, which is a high threshold to meet.”

Citing global regulatory actions, Natasha Treasurywala, Partner at Desai & Diwanji, noted, “Global regulators such as the FTC in the USA and the European Commission have taken stringent action against price-fixing arrangements. This crackdown will lead to greater transparency in collaborations between advertising agencies and broadcasters. Businesses will need to be more careful to ensure that the agencies they are dealing with are above board with their agreements and do not engage in such price-fixing activities.”

Market Impact and Future Implications

Neelambera Sandeepan, Partner at Lakshmikumaran & Sridharan Attorneys, provided insights into the current market landscape. “The broadcasting market in recent times has been significantly consolidated, especially following the CCI’s approval of the Reliance-Disney merger. Further, digital advertising platforms now account for the largest ad spends, as per recent CCI orders. While collaboration between advertising agencies and broadcasters may not necessarily be problematic, the CCI may scrutinize them under ‘vertical agreements’ in competition law parlance. Such agreements are tested for their market effects and are not automatically deemed illegal.”

Emphasizing the need for compliance, Unnati Agrawal, Partner at IndusLaw, said, “As CCI tightens its oversight, advertising agencies and broadcasters must shift towards compliance-driven, transparent, and flexible advertising models. They must engage in fair competition, which ultimately bolsters the advertising and broadcasting market in India.”

Siddharth Chandrashekhar, Advocate at the Bombay High Court, reinforced the seriousness of price-fixing allegations. “Price-fixing falls into a ‘per se’ violation category—once proven, no justification can save the erring entity. The onus is on the accused to prove that their conduct didn’t harm competition. In simpler terms: If CCI finds a cartel, the accused can't simply wriggle out by claiming, ‘But we had a good reason!’ The law assumes guilt unless proven otherwise—a legal tightrope for agencies and broadcasters alike.”

As the investigation progresses, all eyes are on the CCI’s next moves. If strong evidence of cartelization emerges, hefty penalties and long-term regulatory reforms could reshape the media buying industry in India. One thing is certain—this crackdown is not just about punishing violators but about setting the tone for a more accountable and competitive future in media advertising.

CCI raids: Leniency Program blows the lid off media cartelization

As the sun set over Mumbai, New Delhi, and Gurugram on Tuesday, officials from Competition Commission of India continued to search offices of  GroupM, Publicis, Dentsu, Madison and IPG. The agencies find themselves at the center of a relentless investigation into price-fixing and colluding with broadcasters to set advertising rates. But what began as a crackdown on media agencies has now spiraled into a much larger probe. 

The raids finally ended on Wednesday morning when agency CEOs where allowed back into their swanky cabins. Inside the glass-walled offices of these advertising giants, a long and tense night unfolded. CEOs and senior executives were confined to their boardrooms under the watchful eyes of CCI officials. Sleep was a luxury none could afford as investigators meticulously cloned electronic devices, scrutinized hard drives, and pored over stacks of insertion orders and rate agreements.

“The officials didn’t just stop at emails,” an industry insider revealed. “They went straight for call data records. Every phone call, every text message—it’s all under scrutiny. The level of detail in this investigation is unprecedented.” But in the process, investigators stumbled upon something even bigger—digital evidence that hinted at potential involvement of Big Tech firms in digital media-buying deals.

Sources close to the investigation disclosed that this evidence also suggests major technology firms may have influenced ad pricing, digital media spending, and long-term media-buying agreements. If confirmed, this could expose an intricate web of anti-competitive behavior, with tech giants colluding with media agencies to dominate the digital advertising ecosystem.

Executives of industry bodies Indian Broadcasting and Digital Foundation (IBDF), the Advertising Agencies Association of India (AAAI), and the Indian Society of Advertisers (ISA) were caught off guard as investigators swiftly sealed office premises, confiscated mobile phones, and began combing through emails, financial records, and internal communications. 

The raids are the culmination of a months-long covert investigation into allegations that top ad agencies conspired to fix advertisement rates, eliminating fair discounts and rigging the market. The CCI had been silently gathering intelligence, monitoring irregularities, and waiting for the right moment to strike. The tip off which connected the dots from a GST probe at a leading media agency.

An anonymous source close to the investigation disclosed, “This wasn’t just a routine operation. It was a well-planned, high-intensity probe, designed to uncover the extent of coordination between agencies. The authorities knew where to look and whom to target.”

If found guilty, the accused firms could face catastrophic financial penalties—up to three times their profits for the duration of the alleged misconduct or 10% of their total revenue, whichever is higher. The fallout could send shockwaves across the industry, disrupting partnerships and changing the way media buying operates in India.

On Wednesday morning, investigators packed up hard drives, cloned phone data, and evidence logs, leaving behind a trail of shaken executives. The scrutiny is far from over—call data records are next in line for forensic examination, a move that could potentially expose deeper connections and clandestine agreements.

Legal experts predict the next steps may involve formal notices, court hearings, and high-profile summonses of top agency heads and potentially Big Tech executives. Meanwhile, the industry holds its breath, awaiting the aftershocks of the most significant antitrust operation in advertising world's history.

Industry experts believe this investigation could have a ripple effect, prompting advertisers to reassess long-standing media-buying contracts and broadcasters to distance themselves from alleged collusion. As investigators dig deeper, the advertising world is left with an unsettling question: Is this just the tip of the iceberg? With the CCI determined to follow every lead, the aftershocks of this historic raid could reshape India’s media and advertising landscape for years to come.

Overnight raids and sleepless CEOs: How CCI cornered media giants

The Competition Commission of India (CCI) will be broadening its investigation into the alleged cartelization and price-fixing practices in the advertising industry, now examining a potential Big Tech angle in the ongoing raids at major media agencies. CCI officials have discovered digital evidence suggesting possible involvement of Big Tech companies in digital media-buying deals. 

Sources claimed that a routine investigation by GST officials at a leading media agency led to an unexpected crackdown by the Competition Commission of India (CCI) on several major advertising agencies. CCI officials raided GroupM, Dentsu, Madison, Publicis, and IPG, along with industry bodies such as the Indian Broadcasting and Digital Foundation (IBDF), the Advertising Agencies Association of India (AAAI), and the Indian Society of Advertisers (ISA), as part of an inquiry into alleged cartelization involving ad pricing and discount manipulation.

Sources close to the investigation revealed that during the raids, CCI officials discovered digital evidence suggesting possible involvement of Big Tech companies in digital media-buying deals. This revelation has prompted the antitrust watchdog to intensify its scrutiny and expand its probe beyond just advertising agencies.

The nature of the evidence retrieved from the digital records of the raided media agencies remains undisclosed. However, officials suspect that certain Big Tech firms may have played a role in influencing ad pricing, digital media spending, and long-term media-buying agreements. These deals could potentially reflect anti-competitive behavior, such as restricting fair competition, predetermining ad rates, or influencing bidding processes in favor of select companies.

Apart from media agencies and tech firms, CCI has also set its sights on Fast-Moving Consumer Goods (FMCG) companies and some of the biggest advertisers in the country. These companies will be questioned regarding their dealings with ad agencies and their media-buying strategies.

Investigators are looking into whether FMCG giants benefited from exclusive media-buying agreements, negotiated discounts, or preferential treatment in advertising slots. If proven, such arrangements could point to coordinated efforts to manipulate advertising rates and distort market competition.

During the raids, senior executives and CEOs of leading media agencies were questioned about their long-term media-buying contracts with broadcasters and digital platforms. CCI officials are meticulously analyzing Release Orders (ROs), which are official documents that outline the terms of media-buying transactions, to detect any potential irregularities or signs of price collusion.

A key focus of the probe is whether these long-term deals were structured in a way that locked advertisers into non-competitive pricing structures, preventing smaller players from negotiating better rates. If CCI finds evidence of such practices, it could lead to severe penalties for both media agencies and their business partners.

Legal experts suggest that this investigation could have far-reaching consequences for the advertising and digital media industry. If CCI establishes that major players engaged in anti-competitive practices, it could lead to hefty fines, regulatory action, and a complete overhaul of media-buying strategies in India.

Under Section 3(3) of the Competition Act, 2002, agreements between companies within the same industry that directly or indirectly determine pricing or restrict competition are illegal. The investigation will focus on uncovering evidence such as internal emails, pricing agreements, meeting records, or coordinated rate cards that could indicate anti-competitive behavior.

Meanwhile, companies under investigation have remained tight-lipped about the ongoing raids. When contacted, media agencies have declined to comment on the allegations and the nature of their dealings with Big Tech companies.

Breaking: CCI to expand media cartel probe, Big Tech & FMCG deals under scanner

A routine investigation by GST officials at a leading media agency led to an unexpected crackdown by the Competition Commission of India (CCI) on several major advertising agencies. CCI officials raided GroupM, Dentsu, Madison, Publicis, and IPG, along with industry bodies such as the Indian Broadcasting and Digital Foundation (IBDF), the Advertising Agencies Association of India (AAAI), and the Indian Society of Advertisers (ISA), as part of an inquiry into alleged cartelization involving ad pricing and discount manipulation.

Sources familiar with the matter revealed that CCI officials were reviewing key documents related to the investigation late into Tuesday night. The CEOs of the agencies were summoned for questioning and have been directed to appear at the CCI office on Wednesday.

The investigation is highly targeted, with agency executives facing specific inquiries about pricing practices. Sources also indicated that several other agencies are under scrutiny for suspected price collusion.

Under Section 3(3) of the Competition Act, 2002, agreements between companies within the same industry that directly or indirectly determine pricing or restrict competition are illegal. The investigation will focus on uncovering evidence such as internal emails, pricing agreements, meeting records, or coordinated rate cards that could indicate anti-competitive behavior.

In addition to the ad agencies, CCI officials also conducted searches at the IBDF office as part of the ongoing probe.

This enforcement action follows the CCI’s decision to investigate top advertising agencies and broadcasters over allegations of price-fixing and discount manipulation. The agencies are accused of colluding with broadcasters to set advertising rates, effectively limiting advertisers’ ability to negotiate fair and competitive pricing. If proven, the allegations suggest that large advertisers, who rely on these agencies for media planning and ad placements, may have been systematically overcharged through coordinated manipulation of discounts, commissions, or bidding processes.

If found guilty, media agencies could face penalties of up to 10% of their annual turnover, a substantial financial repercussion that could significantly impact the industry.

Legal experts suggest that this case could establish a crucial precedent for the advertising sector, compelling agencies and broadcasters to reconsider their pricing strategies and enforce transparent, competitive media-buying practices.

Storyboard18 reached out to the implicated media agencies and IBDF for comments regarding the raids; however, as of now, they have yet to issue any official statements on the matter.

GST probe opens a can of worms, triggered CCI raids on top ad agencies

The officials from Competition Commission of India after raiding offices of GroupM, Dentsu and Interpublic Group in Mumbai, New Delhi and Gurugram, also raided offices of Publicis for allegedly fixing ad rates and discounts. However, sources privy to investigations have indicated that other top media agencies are also under scanner.

Sources close to the development told Storyboard18, "Offices of Publicis were also raided in the similar matter. The CCI is trying to crackdown on cartelisation of fixing ad prices and discounts." 

Under Section 3(3) of the Competition Act, 2002, any agreement between players in the same industry that directly or indirectly determines prices or restricts competition is illegal. The investigation now will focus on unearthing emails, pricing agreements, internal meeting records, or coordinated rate cards that suggest anti-competitive behavior.

The CCI officials also visited the Indian Broadcasting and Digital Foundation office for investigation.

The action comes after CCI initiated a case against the agencies and top broadcasters over allegedly fixing ad rates and discounts. The case involves top agencies and top broadcasters over allegedly fixing ad rates and discounts.

Sources close to the development said, "The officials denied access to legal assistance. The officials claimed that they had search warrants but they never disclosed any atter to us. They also refused from answering any calls and seized our cellphones."

Media agencies, IBDF are yet to issue any statement related to the raids carried out in their premises.



EXCLUSIVE: After raids at GroupM, Dentsu and IPG, CCI raids offices of Publicis Groupe

The officials from Competition Commission of India raided offices of GroupM, Dentsu and Interpublic Group in Mumbai, New Delhi and Gurugram for allegedly fixing ad rates and discounts. However, sources privy to investigations have indicated that other top media agencies are also under scanner. 

Under Section 3(3) of the Competition Act, 2002, any agreement between players in the same industry that directly or indirectly determines prices or restricts competition is illegal. The investigation now will focus on unearthing emails, pricing agreements, internal meeting records, or coordinated rate cards that suggest anti-competitive behavior.

The CCI officials also visited the Indian Broadcasting and Digital Foundation office for investigation.

The action comes after CCI initiated a case against the agencies and top broadcasters over allegedly fixing ad rates and discounts. The case involves top agencies and top broadcasters over allegedly fixing ad rates and discounts.

Sources close to the development said, "The officials requested all the employees to switch off the cellphones and conducted searches. Officials searched only one floor of the Dentsu office. The officials have seized physical documents and electronics devices and evidences for further investigations."

Sources close to the development said, "The officials denied access to legal assistance. The officials claimed that they had search warrants but they never disclosed any atter to us. They also refused from answering any calls and seized our cellphones."

Media agencies, IBDF are yet to issue any statement related to the raids carried out in their premises.

If these firms are found guilty, the penalties could be severe fines up to 10% of their average annual turnover under Section 27, possible debarment from working with certain broadcasters, and mandatory corrective measures like greater transparency in pricing.

According to the legal expert, this case could set a strong precedent for the advertising industry, forcing agencies and broadcasters to rethink their pricing structures and ensure fair competition in media buying.

CCI raids: Other top agencies also under scanner for alleged cartelisation

The officials from Competition Commission of India on Tuesday blocked legal access during the raids conducted at offices of GroupM, Dentsu and Interpublic Group in Mumbai, New Delhi and Gurugram. CCI officials also seized cellphones of employees at office of Indian Broadcasting and Digital Foundation. 

The offices of of advertising agencies in Mumbai, New Delhi and Gurugram were raided for alleged case against the agencies and top broadcasters over allegedly fixing ad rates and discounts. The GroupM office in Mumbai was blockaded by CCI officials for investigations. Sources told Storyboard18 that officials have seized documents and digital evidence during the raids. 

Sources close to the development said, "The officials denied access to legal assistance. The officials claimed that they had search warrants but they never disclosed any atter to us. They also refused from answering any calls and seized our cellphones." 

Media agencies, IBDF are yet to issue any statement related to the raids carried out in their premises.

CCI blocks legal access during raids at media agencies, IBDF office

The officials from Competition Commission of India conducted swift raids at offices of advertising agencies in Mumbai, New Delhi and Gurugram. The GroupM office in Mumbai was blockaded by CCI officials for investigations. Sources told Storyboard18 that officials have seized documents and digital evidence during the raids. 

CCI officials raided offices of GroupM, Dentsu and Interpublic Group in Mumbai, New Delhi and Gurugram. The CCI officials also visited the Indian Broadcasting and Digital Foundation office for investigation.

The action comes after CCI initiated a case against the agencies and top broadcasters over allegedly fixing ad rates and discounts. The case involves top agencies and top broadcasters over allegedly fixing ad rates and discounts.

Sources close to the development said, "The officials requested all the employees to switch off the cellphones and conducted searches. Officials searched only one floor of the Dentsu office. The officials have seized physical documents and electronics devices and evidences for further investigations." 

Similarly, in Delhi, CCI officials seized mobile phones and electronic documents at IBDF office.

(More details are awaited)

CCI seizes documents, electronic evidences from media agencies

The Competition Commission of India (CCI) raided offices of advertising agencies GroupM, Dentsu and Interpublic Group in Mumbai, New Delhi and Gurugram. The CCI officers also visited the Indian Broadcasting and Digital Foundation office for investigation. 

According to Reuters report, around 10 locations were raided across the country. The action comes after CCI initiated a case against the agencies and top broadcasters over allegedly fixing ad rates and discounts. 

Sources told Storyboard18 that GroupM's Mumbai office near Mumbai airport Bay 99 has been blockaded by the CCI officials. The investigations are ongoing. 

However, the exact reason behind the raids are yet to be ascertained, media reports suggest that the case involves  top agencies and top broadcasters over allegedly fixing ad rates and discounts. 

CCI raids GroupM, Dentsu and Interpublic Group offices

Interpublic Group's OOH arm, Rapport retained the Hindustan Unilever Limited's (HUL) Rs 200 crore OOH media account. Sources close to the development said, Publicis and GroupM participated in the pitch. 

Storyboard18 on December 17 had reported about HUL re-evaluating its OOH media account. According to sources, HUL's OOH media spends is about Rs 200 crore for pan India campaigns. "HUL had invited only global agencies for the pitch due to their strict audit processes. GroupM, IPG and Publicis participated in the pitch."

Sources close to the development said that the pitch was finalized with IPG's Rapport and GroupM being shortlisted by HUL. Rapport later retained the brand's OOH Media mandate. HUL was evaluating multiple aspects including the roadmap for the ongoing year.

The total advertising revenue in 2024 is expected to reach Rs 1.2 trillion ($14.6 billion) from Rs 1.1 trillion ($13.1 billion), as per the latest Magna Global Advertising Forecast report. The revenue is estimated to increase by 16% to reach Rs 34 billion ($402 million), DOOH's share to total OOH is at six percent, growing at a compound annual growth rate of 33% and the share of DOOH would be approximately 11% by 2028.

As per the report, OOH (Out-of-Home) media is on a growth trajectory and is expected to cross 2019 levels in 2024. Traditional, transit and DOOH (Digital Out-of-Home) have shown incremental revenues. The government’s push on infrastructure and urbanisation is an expected boost for OOH inventory, especially premium formats.

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