As of today, John Wren and Philippe Krakowsky are colleagues at the helm of Omnicom, the world's largest advertising group (The Drum)
Almost a year after it was first announced, Omnicom’s takeover of Interpublic Group (IPG) has finally closed.
With it, IPG ceases to exist and Omnicom becomes the presumptive biggest marcomms agency group in the world, with a combined revenue in excess of $25bn (a title it takes from the surging Publicis, which overtook ailing former top dog WPP in February of this year).
In a statement, Omnicom chair and chief executive John Wren declared a “defining moment for our company and our industry.”
Wren said: “With the completion of the deal, Omnicom is setting a new standard for modern marketing and sales leadership – creating stronger brands, delivering superior business outcomes, and driving sustainable growth. We’re excited about this next chapter. I want to thank our people, clients, and shareholders for the trust they have placed in us.”
Now, the focus shifts to growing revenues and keeping that top spot. In the meantime, here’s what we know so far.
The basics: Acquisition and leadership
Though often described as a merger, the deal is in effect an acquisition of IPG by Omnicom: an “all-share” deal in which IPG shareholders will become Omnicom shareholders, exchanging each of their shares for 0.334 Omnicom shares.
The combined entity will trade under the OMC ticker symbol on the New York Stock Exchange.
John Wren, longtime chairman and chief executive at Omnicom, retains his roles. His opposite number at IPG, Philippe Krakowsky, will join as co-president and chief operating officer (alongside Omnicom incumbent Daryl Simm). IPG colleagues Patrick Moore and E. Lee Wyatt Jr have also joined Omnicom’s board of directors.
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The over 100,000 workers at the two companies have spent the year awaiting news of which of their agency brands will survive the transition: annual cost-savings of $750m have been touted, and with advertising’s holding companies already in consolidation mode, the businesses have been braced for both agency and job losses.
Details of either are yet to be made public, with a full leadership team to be announced next week.
How we got here: A timeline
Omnicom-IPG isn’t the first attempted megamerger of adland’s titanic holding companies, but it’s the first to make it all the way. Back in 2014, a similar merger between Omnicom and Publicis Groupe collapsed amid tax and leadership complications. Rumors swirled of similar attempts over the following decade, but nothing concrete until December 2024.
- December 2024: After speculation and leaks, a joint statement from the two New York-headquartered hold-cos confirms the biggest takeover in advertising’s recent history. The parties expect the deal to close “in the second half of 2025”.
- January 2025: As the deal progresses, the organizations’ two bosses, John Wren (Omnicom) and Philippe Krakowsky (IPG) set out their vision for a new kind of holding company in a sit-down with The Drum. Top of the agenda: integrating Omnicom’s data offering Omni with IPG’s Acxiom; consolidating back-office functions; bedding in for a long year of regulatory hurdles.
- February 2025: Omnicom posts sturdy results for the 2024 financial year; Wren celebrates continuing the takeover process from a “position of strength”. Publicis officially becomes the world’s biggest holding-company by revenue, with boss Arthur Sadoun bullish about the “opportunities” provided by his competition being busy with the merger.
- April 2025: As the deal works its way through the courts, Wren rubbishes talk of losing clients and talent to Publicis (or anyone else) as “nonsense fed by competitors”.
- June 2025: The US Federal Trade Commission formally approves the $13.5bn deal, with a restriction on ad boycotts (making content-based coordination a regulatory red flag).
- July 2025: Publicis posts yet more jubilant results as WPP issues a profit warning amid a host of other difficulties. Sadoun says he “can’t wait for the takeover to happen” and for normal, healthy competition to resume.
- September 2025: After a comment period, Omnicom and IPG finalize their agreement with the FTC.
- October 2025: A release sets the closing date of the deal as “by the end of November”.
- Earlier this month: IPG posts poor financial results, listing 800 job losses in Q3, 3,200 job losses for the year to date, and 135,000 square feet of office space vacated. Alex Lubar, chief executive of Omnicom ad agency DDB and longtime IPG stalwart, resigns, fueling speculation that DDB will be axed in the merger.
- Earlier this week: The European Commission formally approves the deal, clearing the last regulatory hurdle for completion, and setting today as the final date.
FAQ
- What’s the new organization called? Omnicom. As of today, the IPG brand ceases to exist, though those of its agencies remain until further details are disclosed.
- Who’s running the new Omnicom? Longtime head honcho John Wren stays on as chair and chief executive, joined by IPG’s Philippe Krakowsky as co-president and chief operating officer.
- Which agencies will continue to exist? Rumors that storied ad brands like DDB may be retired in the merger persist, but have not been confirmed or denied by today's announcement.
- What does it mean for staff? Both Omnicom and IPG have already been laying off staff in advance of the merger - in its Q3 filings, IPG posted 3,200 job cuts this year so far; back in May, Omnicom announced intentions to reduce staff costs by 10% and headcount by 3% ahead of the merger. Further details can be expected in the coming weeks as leadership announcements arrive from December 1.
- How have the markets reacted? Both Omnicom and IPG have suffered share price dips in the year leading up to today's news - to the tune of 32% and 13% respectively. With today's news landing after the bell on the New York Stock Exchange, more reactions will arrive soon.
