afaqs! news bureau

Manajit Ghoshal launches Media Lounge

The ex-CEO of MiD Day has floated Media Lounge, a full service agency, in 50:50 partnership with Amardeep Singh Vig, owner, Ronak Advertising.

Manajit Ghoshal, erstwhile CEO of MiD Day, is out to test his entrepreneurial streak with the launch of a full service agency called Media Lounge in association with Amardeep Singh Vig, owner, Ronak Advertising.

Manajit Ghoshal launches Media Lounge
Media Lounge will operate in the domains of media buying, digital media, creative services, event management, public relations services, running exhibition centres and conducting media courses.

As a first year target, it plans to rope in the right talent team by hiring people from within and outside the industry, and also acquiring specialised agencies to create a perfect eco-system.

It is already in talks with an agency (Ghoshal refused to name it) and plans to acquire 3-4 such agencies by the end of 12 months.

Ghoshal says, "We want to be a game changer in the industry and come up with fresh ideas and contemporary methods. The ideas and methods used in the industry today by the agencies are stale and old."

After he quit MiD Day in March, 2013, Ghoshal had joined Viking Ventures as group CEO.

He further adds that Media Lounge is looking at a pan-India presence. "Ronak Advertising has been mostly working in Mumbai, but we will use Ronak Advertising as a platform to do the release for the clients," adds Ghoshal.

Vig says, "Ronak Advertising is the No. 1 advertising agency in New Bombay. Now we plan to go pan India and develop into a full service agency with all the verticals. We will grow both organically and inorganically. With the strength of Ronak Advertising and Manajit Ghoshal on board as MD and CEO of the new company, we are confident we will grow fast and achieve our goals."

Ghoshal has worked with MiD Day as CEO and CFO for more than 10 years.

He started his career in 1994 with KPMG Consulting as senior audit consultant and then went on to work with H&R Johnson and Cadburys. He also started a HR portal in 2000. Before joining MiD Day, he was with CMS Computers as general manager, finance.