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Omnicom, Interpublic CEOs Say Merger Is Bet on Madison Avenue Future Filled With AI and Ad Tech
The CEOs of Omnicom and Interpublic said their new merger marks bet on how to stay relevant in an ad industry more reliant on tech and A.I.
Top executives from Omnicom Group and Interpublic Group made a case Monday for a proposed merger of ad-industry giants that would create a company that exceeds the size of two main rivals and is better equipped to handle some of the big challenges facing the industry in the not-too-distant future. In era when creating content that gets passed along to consumers in viral fashion is easier than ever, said John Wren, Omnicom’s CEO, “every company in our business needs to make investments to stay at the cutting edge of that.” Omnicom and Interpublic have proposed an all-stock transaction that they say will generate cost synergies of $750 million within two years of the close of a deal, which could be consummated in 2025.
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