The ad world was in a bit of tizz last year when it was announced that the world’s second and third largest holding companies, Publicis Groupe and Omnicom, would merge to create the world’s biggest holding company and knock WPP off its perch. When we spoke to DDB NZ and Australia chair Marty O’Halloran at the time, he said the US$35 billion mega merger (the companies had combined revenue of around US$23 billion in 2012) was unlikely to impact too heavily on this market. And it definitely won’t impact on this market now, because the lovers called the massive deal off late last week. Here’s a rundown of what the two parties and the international media are saying.
There’s been a whole heap of industry chatter about the proposed merger of Publicis and Omnicom, a merger that would create the biggest holding company in all the world (but would still pale in comparison to Google). And, in true modern style, there’s already a parody Twitter account (‘This is a parody. But then again, isn’t the ad industry’) that’s skewering the combined entity.
The global ad industry has moved closer to a duopoly with the proposed merger of Publicis Group and Omnicom set to create the world’s biggest ad network, beating out WPP. But, according to DDB Group’s executive chairman for Australia/NZ Marty O’Halloran, the creation of a company valued at US$35 billion with revenues of US$23 billion is unlikely to have much of an impact on the local agency landscape.