Publicis And Omnicom Announce Plans To Form $35.1B Advertising Leviathan Today Publicis and Omnicom, two of the “big five” global advertising and marketing agencies, announced a “merger of equals”, in which the two will combine to create a powerhouse with some $22.7 billion in annual revenues and a market capitalization of $35.1 billion. The pair say that the new Publicis Omnicom Group will be jointly run by the two existing CEOs, John Wren from Omnicom and Maurice Levy from Publicis. The confirmation — reports of which has been swirling earlier this week — was delivered today in a press conference on a sultry Sunday summer afternoon in Paris — a slightly oxymoronic setting for such a big megadeal. “For many years, we have had great respect for one another as well as for the companies we each lead. This respect has grown in the past few months as we have worked to make this combination a reality. We look forward to co-leading the combined company and are excited about what our people can achieve together for our clients and our shareholders,” the two said together. The merger of these two will create an advertising megacorp twice the size of its nearest rival, WPP.
Posted on: Sun, 28 Jul 2013 12:57:58 +0000
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