Omnicom this morning confirmed it has closed on its $900 million acquisition of Flywheel Digital from Ascential plc, which will operate as a new practice area within Omnicom headed by former Ascential CEO Duncan Painter, who has stepped down from Ascential’s board. The move fulfills Painter’s vision to spin off Flywheel as part of a strategic restructuring of Ascential, best known within the ad industry as the operator of the Cannes Lions festival.
Omnicom
March 28, 2024
Editor on Duty: Mark K. Miller