Advertisment

The merger is an opportunity for WPP: Sir Martin Sorrell

On Publicis Omnicom Group being led by Omnicom CEO John Wren and Publicis Groupe CEO Maurice Lévy as co-CEOs, Sir Martin said “Co-CEOs is not an easy structure”

author-image
BestMediaInfo Bureau
New Update
The merger is an opportunity for WPP: Sir Martin Sorrell

The merger is an opportunity for WPP: Sir Martin Sorrell

On Publicis Omnicom Group being led by Omnicom CEO John Wren and Publicis Groupe CEO Maurice Lévy as co-CEOs, Sir Martin said “Co-CEOs is not an easy structure”

BestMediaInfo Bureau | Delhi | July 29, 2013

publive-image Martin Sorrell

The merger of two equals, Publicis and Omnicom, announced yesterday, to create Publicis Omnicom Group, a best-in-class communications, advertising, marketing and digital services company with combined 2012 revenue of $22.7 billion, and combined market capitalisation of $35.1 billion, makes it larger than WPP, the world's largest advertising conglomerate, led by Sir Martin Sorrell.

Sir Martin, CEO of WPP, said about the mega merger, “It's an extremely bold, brave and surprising move. It's a great deal for Publicis, being a nil premium merger, and Maurice (levy) is to be congratulated. It does result in lower fast-growth market and lower digital proportions. Time will tell if the cultures will click and whether clients and talent benefit – and how $500 million of synergies will be generated without job cuts.”

On the subject of Publicis Omnicom Group being led by Omnicom CEO John Wren and Publicis Groupe CEO Maurice Lévy as co-CEOs, Sir Martin commented, “Co-CEOs is not an easy structure.”

Sir Martin also sees the merger as an opportunity for WPP. He said, “Further consolidation in our industry was inevitable as we have said on many occasions. An equilibrium may be starting to be established, which will generate further significant opportunities for WPP organically."

Also read: Omnicom and Publicis merge to create world's largest ad firm

Info@BestMediaInfo.com

Own BestMediaInfo Android app for fastest updates and breaking news. Click here to download for free.

publive-image

Info@BestMediaInfo.com

Advertisment