Publicis, Omnicom merge to form world’s No.1 advertising group

PARIS — French advertising group Publicis and its US rival Omnicom will merge, bringing together the third and second largest firms in the sector to form the world’s advertising leader, the two companies announced Sunday.

The new company, dubbed the Publicis Omnicom Group, whose capital will be split 50-50 between the shareholders of the two firms, will be co-directed by the current bosses, Maurice Levy of Publicis and John Wren of Omnicom, a joint statement said.

source: business.inquirer.net