The deal also includes sibling agency Everest Brand Solutions.
03 May, 2021 - 08:50 AM IST | By indiantelevision.com Team
New Delhi: Integrated marketing and communications agency Mogae Media is all set to acquire independent advertising agency Rediffusion.
The deal also includes sibling agency Everest Brand Solutions.
Rediffusion was launched by Diwan Arun Nanda, Ajit Balkrishnan, and Mohammed Khan in 1973. In 1994, agency holding network WPP had acquired Rediffusion and merged it with US agency Young & Rubicam (Y&R) to form Rediffusion Y&R. In 2018, Nanda and Balakrishnan gained 100 per cent control of the agency to become an independent entity once again.
It is learnt that post the current acquisition, Mogae Media founder & chairman Sandeep Goyal will take over as the managing director of the agency. Goyal was president at Rediffusion (Rediffusion Y&R) between 1997 and 2001, after which he left the firm to become Zee Group’s chief executive officer.
Sandeep Goyal acquires India’s oldest ad agency Rediffusion
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Goyal, who was president of Rediffusion from 1997 to 2001, has taken charge as managing director of the group with immediate effect. He told ET the company will expand into media buying, digital, social, performance and other businesses. It plans to recruit a media head and other key executives in the next one month.
“I have utmost respect for what Diwan Arun Nanda has created. He is a true legend of India’s advertising industry,” Goyal said.
Adman Sandeep Goyal’s Mogae Consultants has acquired Rediffusion, India’s oldest surviving advertising agency and one of the largest independent ones, from cofounders Diwan Arun Nanda and Ajit Balakrishnan in a deal pegged at about Rs 100 crore.
You ll be hearing a lot about Rediffusion & Everest in the next few months:Sandeep Goyal adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
Adman Sandeep Goyal, a past president of Rediffusion, is set to return as the managing director of India s 48-years-old ad agency, which was founded by Diwan Arun Nanda and Ajit Balakrishnan, in July 1973. Nanda and Balakrishnan have decided to step back from the day-to-day management of the ad agency. However, while Nanda will continue to mentor the agency and stay on as chairman, Balakrishnan, who will focus his attention on Rediff.com, the technology world and public service, will always be available to Rediffusion for any guidance it may need going forward. Rediffusion is even today, India’s largest independent full service ad agency. Over the years the agency has created some of India’s most iconic and memorable advertising for brands like Jenson & Nicholson, Eveready, Parle, Garden Vareli,
The reputed ad agency is all set to be acquired by Goyal-led Mogae Media.
03 May, 2021 - 11:28 AM IST | By indiantelevision.com Team
New Delhi: Advertising agency Rediffusion founders Diwan Arun Nanda and Ajit Balakrishnan on Monday announced their decision to step back from the day-to-day management of the ad agency.
Mogae Media founder and chairman and industry veteran Sandeep Goyal, who served as president of Rediffusion from 1997 to 2001, will take over as the managing director.
The 48-year-old agency has been acquired by Goyal led Integrated marketing and communications agency Mogae Media which was set up in 2012. The deal also includes sibling agency Everest Brand Solutions.