Omnicom, Publicis call off merger

SHARE Omnicom, Publicis call off merger

NEW YORK — Omnicom Group and Publicis Groupe say they have scrapped their merger plans that would have created the world’s largest advertising firm.

The companies issued a joint statement late Thursday saying they mutually agreed to call off the $35 billion deal announced in July because they were not able to complete the merger in a reasonable time frame.

They did not give details, but the Wall Street Journal reported that issues included getting tax and regulatory approvals, and debates over which company would be listed as the acquirer of the other.

Omnicom Group Inc., based in New York, owns BBDO Worldwide, DDB Worldwide Communications Group and TBWA Worldwide, among other agencies. Paris-based Publicis Groupe SA runs its namesake agency as well as Leo Burnett Worldwide, Saatchi & Saatchi, and DigitasLBi.

Associated Press

The Latest
Darnell Rawls, 25, was extradited from Louisville, Ky. and charged with killing Michael Byrnes, 41, as he headed home from work on Sept. 6. A week after the attack, another man, Anthony Rawls Jr., 28, was arrested and charged with the murder.
The researchers say their findings point to a need for more trauma-related health care in those places, especially in the West Side ZIP code 60624.
Coach Billy Donovan all but ruled out any chance that point guard Lonzo Ball plays this season, so what does that mean for the look of the current lineup? A lot, as executive vice president of basketball operations Arturas Karnisovas will show his hand with the Feb. 9 trade deadline approaching - not only at point guard, but the entire roster.
NFL
The lifesaving medical attention Damar Hamlin received on the field during a game last month inspired the league to offer CPR classes.
Lifetime movie neatly summarizes the bizarre life of the late weight-loss evangelist, who built a church around her faith-based nutrition philosophy.