Source says Publicis and Omnicom in talks about possible merger

By IVCPOST Staff Reporter

Jul 27, 2013 12:09 PM EDT

Two of the world's largest advertising firms are said to be in private talks about a possible merger. A person with knowledge of the matter but was not authorized to speak said that Publicis Groupe and Omnicom Group Inc. are in late-stage talks about a merger of equals, Bloomberg reports. Publicis is based in Paris while Omnicom is a New-York based firm. If the talks push through, the merger would topple the current world leader in advertising, WPP Plc, from the top spot.

It is estimated that Publicis and Omnicom combined would carry a USD 30 billion market value. They would also be able to negotiate better rates for their clients because of their size and geographic reach. Since each firm has dozens of ad agencies under its wing, a merger could also serve as protection from losing clients, said the Bloomberg report. Representatives from both advertising firms have not yet given any official statement regarding the said merger.

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