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Monday, Jul 29
More on Omnicom, Publicis mega-merger
- With about 22% of global ad spending digital and growing, the deal is aimed regaining some of the power back from Silicon Valley giants such as Google (GOOG) and Facebook (FB).
- Omnicom (OMC) and Publicis (PGPEF.PK) hope to be able to use their scale to optimize the use of data-driven analysis and the automated trading of ad space.
- Deal will need antitrust clearance in around 45 countries, but Omnicom CEO John Wren is confident the companies will receive it.
- WPP (WPPGY) CEO Martin Sorrel: "It's an extremely bold, brave and surprising move," he says. "Further consolidation of our industry is inevitable." (previous)
- Havas (HAVSF.PK) CEO David Jones: "The deal is "an industrial merger in the digital age," he says. "Clients today want us to be faster, more agile, more nimble and more entrepreneurial — not bigger and more bureaucratic and more complex."