Omnicom and Interpublic Group plan a $13.25 billion merger that would create the world's largest ad-agency company.
Industry insiders say the deal reflects an ad sector under threat from Big Tech and AI.
Being big matters as the industry wrestles with disruption from the might of Big Tech players and the advent of artificial intelligence.
The $13.25 billion all-stock deal would merge Omnicom's creative and media-buying agencies, such as BBDO and Omnicom Media Group, with IPG's McCann Worldgroup and Mediabrands.
The research firm Forrester said last year that the rise of automation could lead to the loss of 33,000 jobs within ad agencies by 2030.
Persons:
IPG's McCann Worldgroup, Marcel, Publicis, Simon Nicholls, Martin Sorrell, Omnicom, hasn't, Laura Desmond, Philippe Krakowsky, Wren, Sorrell, John Wren's, Forrester, Simon Francis, Francis, creatives, John Wren, Publicis Groupe's, Maurice Levy, Spencer Platt, it's, Greg Paull, Kennedy
Organizations:
Industry, Big Tech, Interpublic, Wall Street Journal, Omnicom Media, Groupe, Analysts, WPP, Capital, Adobe, General Motors, Pfizer, Microsoft, Omnicom, Flock Associates, Getty, Publicis Groupe