Ad giants ink megamerger
Advertising giant Omnicom Group will acquire Interpublic Group, the companies said Monday — creating the world's biggest advertising business. The new combined firm could top $20 billion in net revenue, based on 2023's figures. News of the deal, which is expected to "reshape" the advertising industry, drove Interpublic's share price up. The move comes as global advertising spending is set to surpass $1 trillion, according to WPP's GroupM. However, the merger is likely to face intense scrutiny from the government, since it would create "a dominating force in the ad-buying space."
CPA with multi-industry experience
I believe this merger will create opportunities for other large and mid-size agencies. As a former ad agency exec myself, my immediate reaction was the list of clients they would be forced to resign due to conflicts of interest. I'm sure those revenue losses were factored in to their projections.