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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 on July 28. 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. The merger, which has been unanimously approved by the boards of directors of both companies, will bring together more than 130,000 employees. It will also bring together such iconic ad agency brands as Saatchi & Saatchi, Leo Burnett, Razorfish, Ketchum, and ZenithOptimedia. The new group will have a combined market capitalization of about US$35.1 billion.
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