Ad behemoths GroupM, Dentsu, and the broadcasters' body are raided by India for price collusion: According to sources,

According to persons with direct information who spoke to Reuters on Tuesday, the Indian antitrust regulator raided the headquarters of a broadcasters' industry organization and numerous multinational advertising companies, including GroupM, Dentsu, and Interpublic organization, over suspected price collusion.One of the individuals claimed that after the Competition Commission of India filed a complaint against the agencies and major broadcasters for allegedly fixing ad rates and discounts, its officers examined about ten places.

The names of the entities being raided were verified by three additional sources with firsthand knowledge.According to the initial source, the raids were taking place in Gurugram, New Delhi, and Mumbai. The enforcement action and specifics of the media agencies' antitrust case were originally reported by Reuters.The raids coincide with significant changes in the Indian advertising environment brought about by the $8.5 billion merger of Walt Disney and Reliance's India media businesses, which Jefferies analysts predict would account for 40% of the TV and streaming ad market.