Sandeep Goyal, chairman, Mogae Media, who was president at Rediffusion (Rediffusion Y&R) between 1997 and 2001, has acquired the agency which was launched in 1973 by Diwan Arun Nanda, Ajit Balakrishnan and Mohammed Khan.
Post the acquisition, which was completed last week, Goyal takes over as managing director at the agency. Nanda shall continue to mentor the agency and will stay on as chairman. Balakrishnan will now be focussing his attention on Rediff.com.
After leaving Rediffusion in 2001, Goyal was CEO at Zee Group, post which he entered a JV with Dentsu as group chairman in India. In 2011, he sold his stake in Dentsu, and launched Mogae Media a year later.
The deal to acquire Rediffusion also includes Everest Brand Solutions.
Nanda said, "Rediffusion has been known over the years for ‘advertising that became famous and part of the language and the culture of the people’, and helped brands build long term, and lasting equity with consumers.”