Publicis, Omnicom set for $35b merger to form world’s largest advertising holding company
July 28 2013, 7:53 am | | 2 Comments
UPDATED – READ THE OFFICIAL PRESS RELEASE
The Wall Street Journal reports that Omnicom and Publicis, the world’s second- and third-biggest advertising companies, have agreed to merge, creating what would be a $35 billion behemoth.
The boards of both companies have approved the deal which is expected to be announced today in Paris, where Publicis is based. Publicis has scheduled a news conference for 9am today Paris time for a “major corporate announcement.”
The deal will be billed as a merger of equals: each company has a market capitalization of about $16 billion. Omnicom Chief Executive John Wren and Publicis CEO Maurice Levy are expected to be co-CEOs of the combined company. READ MORE…
2 Comments
This is gong to rock the foundations of the Perth advertising industry.
Omah God.
As one of the few markets in the world not entirely saturated by the big three-soon-to-be-two holding companies, Perth will shortly become the subject of a frenzied bidding war. Agencies will be snapped up literally as soon as they are formed, before being collapsed into one another in a relentless search for increased efficiencies. When the dust settles we will all work at one big shop called The Market0meercrasher Agency.