The collapse of the $35 billion merger of New York-based Omnicom with France's Publicis is likely to lead the world's biggest ad agencies to think small as they try to counter the challenge from internet giants like Google.
Breaking News
Advertising spending in the UK for the third quarter of 2013 has hit the fastest pace recorded according to a survey from IPA Bellwether, the Financial Times reported.
UK-based advertising firm M&C Saatchi divested a controlling stake of 75.1% in Walker Media for GBP36 million. M&C Saatchi sold its holding to French multinational advertising and public relations company Publicis.
The following bids, mergers, acquisitions and disposals were reported on Friday, including Microsoft, Comcast, Green Dot, Goldman Sachs and others.
The following bids, mergers, acquisitions and disposals were reported on Thursday including Omnicom, General Motors, Deutsche Telekom, Devon Energy and others
The scheduled $35.1 bilion tie-up of both advertising giants Omnicom and Publicis, would be pushed to mid-2014 as the latest date, as announced by both Chief Executives on Thursday.
Britain-based advertising group WPP denied a report from The Daily Mail's that the company is planning a takeover bid for US-based marketing group Interpublic (IPG).
The Publicis-Omnicom merger ensured a win in the ad market as soda rivals Coca-Cola Co and PepsiCo Inc share the same ad company.
A new giant was created through the merger of Publicis and Omnicom which overshadowed WPP's dominance of more than four years in the communications market.
The possible merger of French company Publicis with Omnicom is expected to topple competitor WPP from the top spot.
A source revealed that Publicis and Omnicom are in late-stage talks about a merger of equals.
