A week ago, Havas and Horizon Media announced a new global joint venture called Horizon Global, designed to develop business with U.S.-centric clients that are expanding their global footprints. 

But the news had many in the industry wondering whether this venture is an interim step toward a full-blown combination of the two companies. 

Nobody at the companies is denying the possibility, but Horizon Global interim CEO Bob Lord, responding to a question via email, replied: “At this time, we're not focused on a merger. We're focused on meeting the client’s needs through a strategic joint venture.”

He added that the JV’s structure “is intentionally designed to bring the best of both worlds to our clients — scale, agility, global reach — while preserving the independence that is core to Horizon Media’s DNA and success.”  

Lord is running the new venture, but also keeps his day job — president, Horizon Media Holdings. 

A spokesman confirmed that a search is underway for a permanent Horizon Global CEO.  

Is Lord a candidate? A spokesman replied: “Both Horizon and Havas agree, Bob is uniquely equipped to lead Horizon Global, bringing the executive experience and data and technology vision needed to capitalize on our momentum. The Board will evaluate the long-term leadership structure as the venture evolves, but our immediate and total focus is on building the business and serving our inaugural clients.”  

The venture has not yet revealed any inaugural clients.  

In addition to Lord and COO Renata Spackova, the senior leadership team of the joint venture includes Havas Media Network global CEO Peter Mears, the CEOs of the two parent organizations Bill Koenigsberg (Horizon Media) and Yannick Bollore (Havas), and undisclosed others.  

According to Lord, the operating model for the venture “is built for agility and meeting the client’s needs rather than a heavy, fixed headcount.”   

Beyond the dedicated leadership team, he added, the joint venture “will custom-build teams for each client opportunity by drawing on the best and most relevant talent from across the global networks of Horizon and Havas. This flexible structure is a key strength, allowing us to tailor teams precisely to client needs without creating a new layer of bureaucracy.”  

In its initial press release announcing the joint venture, the companies referenced $20 billion in media billings managed in total by Havas and Horizon Media.  

As far as the joint venture is concerned, Lord said “the $20 billion figure represents the combined marketplace power and scale that Horizon Global is able to leverage for its clients from day one. It speaks to the clout, partnership capabilities, and data intelligence we bring to the table. As a new entity, Horizon Global is launching with its inaugural clients and its own billings will grow as we win new business.”  

The joint venture, he added, "offers a powerful alternative for U.S.-centric global clients who are frustrated with the complexity and misaligned incentives of legacy holding companies. By bringing together two of the most respected agencies, we aim to win major global accounts that neither entity could effectively win on its own."

When the venture was first announced, marketing consultant Madison & Wall noted that Havas is focused on a “relatively integrated media and creative services offering,” and that the new JV would “appear to operate in contrast” to that focus, “as Horizon does not have a traditional creative agency proposition.”  

But Mears suggested that the venture could offer integrated capabilities, depending on the client. “Guided by our Converged strategy, Havas’ strategic direction and focus remain unchanged,” he said. “While this joint venture is primarily focused on media capabilities at launch, we could of course bring to bear the power of Havas’ creative capabilities based on the client needs.”   

Madison & Wall also asserted that “one negative consideration for Havas’ US business is that the agency will presumably not focus on global media opportunities from within the US as long as the JV is alive.”  

Replied Mears, “this joint venture does not impact our operations or growth ambitions in the North America market.” The partnership, he added, “is additive, not restrictive, for both partners. It creates a new, distinct lane for Havas to compete for large, U.S.-centric global opportunities while its existing U.S. operation continues to pursue its own core growth strategy in a dynamic domestic market.”  

“To be clear,” Mears stressed, “the venture is designed to be fully symbiotic, and its strategic focus is on winning new U.S.-centric global clients, as well as servicing Horizon’s existing US clients with ambitions to activate internationally. It’s about creating new routes for growth for both partners.”