Sixth Element announces demerger

Sixth Element, a Pune-based OOH advertising company established in 2012, announced the demerger of the strategic alliance. The three media houses – Asha Publicity, Captions Outdoor Advertising and Hallmark Outdoor Advertising – have decided to disperse their business. According to the deal, all the three partners will now continue with their native business names whereas the Sixth Element name stands dissolved. Chandrakant Kudal of Asha Publicity and Haseeb Faquih of Captions Outdoor Advertising confirmed to Media4Growth that all three partners have mutually decided to run their own businesses individually.

“All the three companies had merged together with a motive, which couldn’t be materialised. Therefore the three partners have decided to run their own businesses”, said Chandrakant. “This decision was taken with a mutual agreement in a non-acrimonious and professional manner”, added Haseeb.

Now the three demerged partner companies will focus on building their own businesses and strengthening their portfolios in terms of media formats and geographies. Haseeb explained, “OOH is a highly evolving market with several growth opportunities, especially in the area of Metro and aviation. Therefore, we would like to leverage the expanding opportunities and get into new locations to serve our clients. We would like to participate in new tenders that provide us the opportunity to acquire new media and at the same time we are open to acquiring existing formats also”.

Chandrakant shared his expansion plans include “widening their reach and capturing the entire Maharashtra market”.