(NEW YORK) — Omnicon and Publicis announced Sunday that they would be merging and creating the largest advertisng company in the world, BBC News reports.
Together, Omnicom, a U.S. firm, and Publicis, a French firm, will be worth $35.1 billion and employee more than 130,000 people. The new Publicis Omnicom Group will be listed in Paris and New York.
John Wren and Maurice Levy, chief executives of Omnicom and Publicis, respectively, will be joint CEOs of the new entity.
“The communication and marketing landscape has undergone dramatic changes in recent years including the exponential development of new media giants, the explosion of big data, blurring of the roles of all players and profound changes in consumer behavior,” BBC News reports Levy having said.
“John [Wren] and I have conceived this merger to benefit our clients by bringing together the most comprehensive offering of analogue and digital services,” he continued.
Copyright 2013 ABC News Radio
Jose Pagliery, CNN
Madison Park, CNN
Kathryn Vasel, CNN
Debra Goldschmidt, CNN