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Omnicom in Talks to Acquire Interpublic Group in Landmark Madison Avenue Deal
Omnicom Group is in advanced discussions to buy Interpublic Group in a deal that would consolidate the business of Madison Avenue
The pact will bolster Omnicom’s standing among a handful of large holding companies that dominate the sector, but have been struggling to develop new lines of revenue as the industry’s best-known products — glitzy TV commercials and print ads — are seen as less effective in spurring consumer purchases and response. Under CEO Philippe Krakowsky, Interpublic has been shedding some of its traditional agencies, such as Deutsch New York, Hill Holliday and Huge, while buying up the bulk of Acxiom Corp. in 2018 and, more recently, acquiring Intelligence Node, a specialist in retail data. Both companies recently had an occasion to work together, with Interpublic, Omnicom and French rival Publicis Groupe all agreeing to acquire a small interest in the ad-tech firm Mediaocean, which helps advertisers and agencies monitor invoicing and payments for their purchases of media inventory in which they can run their commercials.
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