1008 GMT - Shares in Interpublic Group surge in premarket trading, while Omnicom Group shares fall, after The Wall Street Journal reported that the advertising firms are nearing a merger that would reshape the industry. IPG's stock jumps 14% premarket, while its larger peer Omnicom is down 2.3%. The stock moves came after the Journal reported Omnicom is in advanced talks to acquire Interpublic in an all-stock deal that would create the world's largest ad company by net revenue and bring together some of the world's best-known ad brands under one roof. Omnicom's agencies include BBDO, TBWA and FleishmanHillard, while Interpublic owns agencies such as McCann Worldgroup, Weber Shandwick and ad-buying firm Mediabrands. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 05:08 ET (10:08 GMT)
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