With CCI nod, Omnicom's acquisition of IPG gains momentum, but not without roadblocks ahead

With the Competition Commission of India (CCI) giving its approval to the proposed mega-merger between Omnicom and Interpublic Group (IPG), the deal has now cleared antitrust scrutiny in 10 of the 20 key global markets. However, the path ahead remains complex, with major regulatory approvals still pending in the United States, Australia, European Union, and the United Kingdom.

Industry watchers say the Indian regulator’s nod suggests a relatively nuanced approach to market consolidation, particularly in the creative and media agency space. But with half of the major jurisdictions yet to rule on the merger, regulatory pushback could still derail or delay the global integration.

Read more: Consolidation or Collision? How ad land’s mergers create crisis of overlapping of leadership roles

According to industry insiders, the merger could be operationalised by late 2025 if remaining approvals are secured without significant concessions.

Naresh Gupta, co-founder of Bang in the Middle, believes that the market domination issue is solved and the merger will happen. If they move forward with speed, then in the next six months we will have the new entity working.

Yet, many caution that execution is where the real complexity lies.

The Indian advertising market— diverse, competitive, and value-sensitive—is likely to witness a reshuffling of brands, people, and clients. Sandeep Goyal, chairman of Rediffusion, notes that the shakedown is inevitable.

Weaker global brands like MullenLowe, DDB, and FCB may face headwinds, even extinction. In India, all three are stronger than TBWA and BBDO, but local realities may get papered over.

Read more: Omnicom's John Wren downplays client loss concerns amid IPG deal, tariff uncertainty

"Expect a lot of job losses and a reconfiguring of client alignments for sure.”

Nisha Singhania, co-founder of Infectious Advertising, adds that much of the merger’s success in India will depend on how well the new entity balances global integration with local agility. “The key will be how the two giants align their operations, cultures, and client mandates in India.”

Back-End Synergies, But Front-End Complexities

Abhik Santara, founder of ^atom network, points out that while back-end synergies across finance, HR, and tech tools could cut costs—potentially up to 20–25% of operational expenses— client-facing functions will face more nuanced challenges.

“The different agency brands help offer unique cultural and strategic perspectives. Consolidation reduces that opportunity to flank the market through multiple offerings,” he says.

He also highlights the long-term complexity of managing client conflicts and winning new business under a consolidated setup.

Although, speaking during the company’s first-quarter earnings call of 2025, Omnicom Chairman and CEO John Wren pushed back against speculation that the $10 billion-plus merger could trigger significant client losses— asserting instead that disruption has been minimal and that synergies are within reach.

Read more: Global Mergers, Local Ripples: Consolidations reshape India's ad land as clients seek 'single-window' partners

“We have not had any client of any significance that we're in fear of losing because of the transaction,” Wren said. “That’s just nonsense fed by my competitors to the trade regs… that I'm going to lose people and I'm going to lose accounts and I'm going to lose this and the other thing... not true." The executive had added that neither Omnicom nor IPG has encountered any material antitrust red flags so far.

Before the merger is sealed, the combined entity must secure approval from regulators in key markets like the United States, United Kingdom, European Union and Australia— where concerns over market share, client conflicts, and reduced competition could still trigger deeper scrutiny. While the terms of the antitrust commitments made so far are not public, insiders suggest that leadership structures, brand rationalization, and client overlaps are already under internal review.

It is to be noted that around the time the merger was announced in December, representative Jim Jordan, a Republican from Ohio, who serves as Chair of the House Judiciary Committee sent letters to the CEOs of Omnicom and IPG. Both companies were founding members of the World Federation of Advertisers (WFA) and the recently disbanded Global Alliance for Responsible Media (GARM). This inquiry was part of a broader antitrust investigation spearheaded by Jordan’s committee, who was examining whether the proposed merger between Omnicom and IPG could harm competition, particularly concerning conservative media outlets.

For its part, Federal Trade Commission investigators, in February, reviewed the proposal and focused on the competitive impact the combination would have on advertisers, and the merger’s impact on competition in media buying. Key concerns included whether a larger Omnicom-IPG entity could restrict agency pitch choices, increase pricing power, or reduce media diversity.

Meanwhile, with a possible completion timeline in late 2025, the Indian subsidiaries of Omnicom and IPG will need to begin scenario planning for leadership transitions, client relationship management, and potential redundancies.

Read more: CCI approves acquisition of IPG by Omnicom Group

“A new leadership council will likely be formed, and they’ll work on cultural integration. But how the entire contour works out—we’ll have to wait,” says Gupta.

As the global ad landscape braces for one of its biggest restructurings in recent memory, India’s creative ecosystem is on alert— readying for both opportunity and upheaval.

The deal, valued at approximately $30 billion, will result in a combined entity with an estimated $65 billion in global media billings, making it the largest advertising network in the world by revenue. The merger was approved by shareholders during a vote held in March, marking a significant step toward the finalization of the takeover.

CCI in its announcement said that the proposed combination relates to the acquisition of sole control of The Interpublic Group of Companies, Inc.(IPG) by Omnicom Group Inc. (Omnicom). Under the Merger Agreement, EXT Subsidiary Inc.(Omnicom Merger Sub) (a wholly owned subsidiary of Omnicom) will be merged with and into IPG.

Read more: "WPP Media": Rebrand of GroupM signals strategic reset amid intensifying industry consolidation

Omnicom Merger Sub will cease to exist and IPG will remain the surviving entity as a wholly owned subsidiary of Omnicom (Proposed Combination). Omnicom is a New York based provider of marketing and sales solutions. Omnicom comprises an inter-connected global network of marketing and communications companies offering a diverse, comprehensive range of marketing solutions spanning brand advertising, customer relationship management, media planning and buying services, public relations and numerous specialty communications services.

Omnicom Merger Sub is a wholly owned subsidiary of Omnicom incorporated under the laws of Delaware specifically for the purpose of the Proposed Combination. IPG is a Delaware based company engaged in provision of media buying and planning services, data and engagement solutions, integrated advertising and creativity solutions, public relations and specialized communications and experiential solutions

Announced jointly late last year, the merger was hailed by both companies as a “tremendous strategic opportunity.” It aims to expand their platform capabilities, consolidate global talent, and create a uniquely comprehensive portfolio of services. The companies stated that the new entity will serve as a powerful "marketing and sales partner" equipped to navigate the rapidly evolving global media landscape.