Sandeep Goyal's Mogae Media acquires oldest ad agency Rediffusion

Curtains will come down on one of the country’s oldest advertising agencies, Rediffusion, following its acquisition by adman Sandeep Goyal’s Mogae Media.
 
Rediffusion partners Arun Nanda and Ajit Balakrishnan, who held 50 per cent each, have decided to step back from day-to-day operations of the agency.
 
Nanda, who founded Rediffusion along with Balakrishnan and Mohammed Khan in 1973, will remain chairman of Rediffusion. Goyal will take over as MD.
 
Rediffusion will be part of the Mogae Media group, people in the know told Business Standard.
 
Goyal was not available for comment when contacted. He was president