Ding Dong, the Omnicom/Publicis Mega-Merger Is Dead
You like tomatoes; I like merging our massive holding companies within a reasonable timeframe—let's call the whole thing off.
Publicis CEO Maurice Lévy and Omnicom CEO John Wren in better times. Oh, you guys!
There's a point in every relationship when the couple needs to take stock: Do I want to marry this person? It seems as if that moment has just arrived for Omnicom and Publicis and the answer is ‘nope.'
The proposed $35 billion merger between the two truly massive holding companies, first reported back in July, has fallen apart due to irreconcilable differences, though apparently the breakup is mutual. Publicis CEO Maurice Lévy and Omnicom CEO John Wren reportedly killed the deal because of difficulties in “completing the transaction within a reasonable timeframe.”
Some companies are too big to fail—other companies are too big to merge. And most people think that's a good thing. There are those in the creative community who think that advertising monopolies can lead to nothing more than mediocre work. Although there is the theory that a merger of this sort would cause a ripple effect of startup and small shop creation in reaction, which would actually lead to more creativity. But I'm sure that's not what Lévy and Wren had in mind.WPP CEO Martin Sorrell was happily smug about the news, noting in a statement to our sister pub PRWeek that sometimes (these are my words) if you stroke your ego too hard, it can fall off.
Publicis Groupe and Omnicom cancel $35bn merger after realising Pubicom or Omnicis both sound rubbish.— Rich Birkett (@richardbirkett1) May 9, 2014
Rumours that the Publicis-Omnicom merger. Yayyyy! The last thing this world needs is an even bigger super network. http://t.co/bNGMZQeJXE— Les Tapolczai (@LesTapolczai) May 5, 2014
Corporate marriage is hard. There are 70 integration committees on the Publicis-Omnicom merger. http://t.co/Ti1dkoMQJy— Shira Ovide (@ShiraOvide) April 25, 2014
Martin Sorrell must be running around the WPP offices naked with a bottle of bubbly in hand #POGfailure— cpokane (@cpokane) May 9, 2014