A part of the former employees of Odyssey, the media agency owned by businessman Dinu Patriciu which went insolvent, have started a new agency called Jazz, according to paginademedia.ro
The agency was founded by Valentin Suciu (former creation director at Odyssey, with 33 percent stake in Jazz), Irina Pencea (former executive director in Odyssey, with a 40 percent stake in Jazz) and Diana Benko (former BTL director, with 27 percent stake in Jazz).
The Jazz team comprises 15 people working on ATL, BTL and Client Service, according to the same source. The agency has started with three clients: Danone, Desperados and Star Foods.
On the other hand, Odyssey has requested the insolvency of Adevarul Holding, even though both companies are owned by Patriciu. The request was made by the legal administrator Acsis Solv.
According to paginademedia.ro, Odyssey must pay several million of euro for advertising Adevarul Holding products. Among others, approximately EUR 1.5 million-2 million it owes to Pro TV, EUR 200,000 to Splendid Media (the agency that sells advertising space for TVR 1) and EUR 150,000 to Clir Media (the agency that sells advertising for Radio România Actualitati and Radio ZU.
Read more about Odyssey’s insolvency at this link.