Publicis to Combine With Omnicom to Create Top Advertiser
Publicis Groupe SA and Omnicom Group Inc. agreed this week to merge in an all-stock transaction to create the world's largest advertising company with $23 billion in revenue, toppling market leader WPP Plc.
Shareholders of Paris-based Publicis and New York-based Omnicom will each hold about 50 percent of the new entity, Publicis Omnicom Group. Publicis CEO Maurice Levy and John Wren, his counterpart at Omnicom, will be co-CEOs. Pending regulatory and stockholder approvals, the creation of an industry powerhouse with $35 billion in market value is expected to be completed by the first quarter of 2014.