• by Joe Mandese  @mp_joemandese, December 9, 2024

Following a weekend of speculation, Omnicom this morning confirmed an agreement to acquire Interpublic in a stock deal that will give Omnicom's shareholders 60.6% and Interpublic shareholders 39.4% of the new publicly traded company.

The combined company will have combined 2023 revenue of $25.6 billion, making it the dominant agency holding company, as well as a U.S. centric one (57% U.S./43% other markets).

The combined company will be the world's largest media-buying organization, deriving 54% of its revenue from media and advertising services, according to a prospectus Omnicom filed with the Securities and Exchange Commission.

John Wren will remain chairman & CEO of Omnicom, while Interpublic CEO Philippe Krakowsky will join long-time Omnicom exec Daryl Simm as co-presidents/COOs of the new organization.

Simm, who was sole president and COO of Omnicom, previously served as CEO of Omnicom Media Group.

Krakowsky, a long-time Interpublic exec who succeeded Michael Roth as CEO in 2020, will also serve as co-chair of a post-merger integration committee.

Omnicom's Phil Angelastro will remain executive vice president & CFO of Omnicom.

Three current members of the Interpublic Board of Directors, including Krakowsky, will join the Omnicom board of directors.

The transaction is expected to close in the second half of 2025, subject to Omnicom and Interpublic shareholder approvals, required regulatory approvals, and other customary conditions.

The combined company will retain the Omnicom name and trade under the OMC ticker symbol on the New York Stock Exchange.