News:

Melt Update | 27 May | Amazon Acquires MGM for US$8.45 Billion & MORE

Ritwika Gupta, May 27, 2021

In the digital space, ASCI has unveiled the final guidelines for influencer advertising.

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Top News:

1. Amazon Acquires MGM for US$8.45 Billion

Amazon and MGM have entered a definitive merger agreement under which the former acquires the latter for US$8.45 billion.  As per The Economic Times, the partnership will help preserve MGM’s heritage and catalogue of films, and provide customers with access to these existing works. The deal is the latest in the media industry that’s aimed at boosting streaming services to compete against the likes of Netflix and Disney+.

2. Ian Gough Joins WPP in New Global Role

WPP has appointed Ian Gough as business director within the marketing and growth team, according to campaign India. As part of this new global role, Gough will work closely with WPP agencies to support and put together integrated offerings for clients across the areas of communications, experience, commerce and technology. Prior to this, he was MD at Digitas in Australia.

3. ASCI Releases Final Guidelines for Influencer Advertising

The Advertising Standards Council of India (ASCI) has unveiled the final guidelines for influencer advertising on digital media. The guidelines make it mandatory for influencers to label the promotional content they post. As noted by exchange4media, these will be applicable to commercial messages or advertisements published on or after 14 June 2021.

4. IKEA Launches IKEA app

IKEA has announced the launch of IKEA app on iOS and Android. The new app will offer 7000 home furnishing products, along with ideas and inspiration for every home. As per exchange4media, customers from Mumbai, Pune, Hyderabad, Ahmedabad, Surat, and Baroda will now be able to search, find and buy products on the app.

5. Network18 Appoints Siddharth Raj Jain as CTO, Network18 Digital

Network18 has appointed Siddharth Raj Jain as its CTO of Network18 Digital, as reported by afaqs. In his new role, Siddharth will take up the responsibility of all technology functions for Network18 Digital to enable the company’s continued national and regional growth, as well as oversee the company’s technology teams. He joins from PayU.