Is Sandeep Goyal buying into Rediffusion?

27 May,2019

By A Correspondent

 

Sandeep Goyal

At the launch of his book ‘Blog Buster’, the entire top deck of Rediffusion was in attendance. Nothing unusual about it, except that when the book was being written by seasoned advertising person Sandeep Goyal, a former Group CEO of the agency, and now rumoured to have bought a significant majority stake in the creative agency.

Goyal has laughed off the suggestion whenever we’ve raised it with him, and a senior source in Rediffusion preferred to not comment.

 

The 46-year-od creative agency has seen its highs and lows, and in recent years, this was caused by a rough relationship with WPP, which owned 26.7 per cent stake in the agency. Last year, MxMIndia broke the story on the stake sale, which was confirmed with an announcement in a few months.

The deal with Goyal is said to have been sealed (if not inked) a few months back, but according to sources, there are two reasons for the holdback of the announcement: one, a legal tangle that’s waiting to get sorted… a fairly old one, we are told. And, two, there is a possible clause in the parting of ways with WPP that there will be no change in the equity structure of Rediffusion until a year of the deal which was announced in August 2018.

Industry observers say that if Goyal does take ownership of Rediffusion, his aggressive approach to business could see some key clients across the spectrum coming to the Rediffusion fold.

Watch this space.

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