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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.
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,