When the editor of Dinank quit in 1979, the publisher invited Wagle, then 19, to take over as managing editor. Wagle eventually became Dinank's editor-in-chief. Following that, he moved to Pune and joined the Kirloskar Group, which at the time held a few of periodicals. However, he abandoned his new job and returned to Mumbai after a month. He took charge of Dinank again and continued as its editor until his death. Besides being an editor, Wagle was also involved in writing articles for various magazines including Filmfare and Bombay Talkie. He has written several books including The Best of Dinank (edited by him) which contains essays by prominent writers on Indian cinema. He died in a car accident on August 2, 1980 near Malad west, Mumbai. The incident occurred as he was returning from work; he was alone in the car. According to police records, the car hit a tree and burst into flames. Wagle's body was burnt beyond recognition. However, his wife Sunanda who was with him in the car survived the accident. She has alleged that the driver of the other car involved in the accident was drunk and this may be the reason why Wagle died. But no case was filed by her against the driver. Dinank went through several changes following Wagle's death. Finally, it was merged with another magazine called Bombay Magazine to form Bombay Magazine & Dinank in 1981.