News:

Melt Update | 26 July | GroupM Backs out of Facebook’s Media Agency Review & MORE

Ritwika Gupta, July 26, 2021

In global news, Edtech major Byju's has acquired Singapore-headquartered Great Learning for USD 600 million.

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Consequently, till things improve, Melt in a Minute will change a bit.
The format will change from all video to a text-based post. A little more difficult to consume, but it’s the best we can think of under the circumstances.
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Top News:

1. GroupM Backs out of Facebook’s Media Agency Review

WPP’s media agency GroupM has backed out of Facebook’s media agency review in which rivals like Dentsu, Havas Group, and Publicis Groupe are also participating. According to exchange4media, GroupM has pulled out of Facebook’s agency review due to the social media giant’s requirement that the agency takes on greater liability. Facebook’s media account is worth $1 billion and GroupM will continue to work with Facebook until the review is over.

2. Rohit Gupta Moves to Advisory Role at SPN

Sony Pictures Networks India (SPN) has revamped its organisational structure, as per afaqs. Rohit Gupta has transitioned from his role as Chief Revenue Officer – Ad Sales and International Business and taken on the responsibility of being SPN’s Advisor to the Management and the Board. In this new role, Rohit will be advising senior management on industry trends, developments and work closely with the CEO on various industry issues that could positively impact the company’s strategy and growth.

3. Byju’s Acquires Great Learning

Edtech major Byju’s has acquired Singapore-headquartered Great Learning for USD 600 million and will invest an additional USD 400 million to strengthen its position in the professional and higher education segment. As reported by The Economic Times, the development comes just days after Byju’s had announced the acquisition of US-based digital reading platform Epic for USD 500 million.