Publicis, Omnicom plan merger to create USD35b entity

(MENAFN) Advertising giants Publicis and Omnicom plan union to create the world's biggest advertising group, worth USD35.1 billion, Reuters reported. The companies said the transaction, presented as a merger of equals, would bring the necessary scale and investment firepower to cope with rapid changes wrought by technology on the advertising business. The new company, Publicis Omnicom, will be traded in New York and Paris. It will overtake the current advertising leader WPP. Also, the new entity will have combined sales of nearly USD23 billion and 130,000 employees. It brings together Publicis brands such as Saatchi & Saatchi and Leo Burnett with Omnicom's BBDO Worldwide and DDB Worldwide.