U.S. antitrust authorities from the Federal Trade Commission have cleared the Omnicom Group and Publicis Groupe merger. “The expiration of the HSR [Hart-Scott-Rodino Antitrust Improvements Act] review period in the U.S. and the approvals received in other jurisdictions satisfy some of the conditions necessary for the transaction to close,” Publicis Groupe saidt.
If scale mattered so much, why has Publicis been slow to maximize it as it is? Its networks Starcom MediaVest and ZenithOptimedia don’t go to market together a la GroupM. Shareholders and clients may find themselves thrilled by the coming Publicis-Omnicom combination, but for TV sellers things shouldn’t change much.
The combined company will be called Publicis Omnicom Group and be jointly led by Omnicom CEO John Wren and Publicis CEO Maurice Levy as co-chief executives. Omnicom Group Inc., based in New York, owns BBDO Worldwide, DDB Worldwide Communications Group and TBWA Worldwide, among other agencies. Paris-based Publicis Groupe SA runs its namesake agency as well as Leo Burnett Worldwide, Saatchi & Saatchi and DigitasLBi. Their merger creates a company with combined annual revenue of about $23 billion, leapfrogging it over current London-based industry leader WPP PLC.