There are unconfirmed reports that Capital Media, a media and out of home advertising agency belonging to Casers Group might be shutting its operations.
Capital Media used to be the media agency for South Africa’s MTN Nigeria but lost the business in 2014 after the latter contracted the business to Insight Communication’s Media Perspectives.
The agency had since then diversified into OoH business with LED boards across Lagos, Abuja and Port Harcourt. However, the diversification and to a lay off of virtually all its workforce.
A move that could have rebalanced the company was when MTN Nigeria’s media account was won by Omnicom Group, the media and advertising network which Casers Group belongs. However, an aftermath of the reorganisation saw Capital Media losing the media buying beat of the business to another network member, PHD Media.
As at the time of writing this report, the company’s website was still live with no sign that the company is going through any turbulence.