What you need to know:

• Simon Ryan and Konrad Spilva are working on the launch of a new venture
• The new model could mirror the likes of Sir Martin Sorrell's S4 and Australia's Bastion Collective
• Ryan and Spilva are said to be in conversation with several agencies for M&A opportunities
• Some industry conjecture says former Dentsu Mitchell chairman and media entrepreneur Harold Mitchell might be involved but this could not be confirmed at the time of publishing
• Still in its infancy, Ryan and Spilva have had early discussions with potential clients

Former Dentsu executives Simon Ryan and Konrad Spilva are set to return to the communication sector which might take shape as a collective that could including existing operations in Melbourne and Sydney.

Spilva, the ex-CEO of Isobar and original founder of Visual Jazz, will lead the digital plans while Ryan will handle traditional media responsibilities and venture funding.

The move comes at a time of significant growth in the independent media agency sector, which last month formed its own industry body, the  Independent Media Agencies of Australia (IMAA).

At the time of the launch, the sector reported 10% year-on-year growth and claimed to be responsible for 25% of the media spend across Australia.

Ryan did not confirm the developments at the time of publishing but has been contacted for comment.