PUBLICIS and Omnicom have announced merger plans to create the world's biggest advertising group Leighton Vander Esch Youth Jersey , worth US$35.1 billion. It's a tie-up that could put pressure on rivals to do deals to keep pace.
The transaction marks a return of jumbo-sized mergers and acquisitions among the world's "Big Six" advertising groups, which have spent the past few years buying up much smaller targets in emerging markets and among web marketing specialists.
The French and US company presented the deal as a "merger of equals" in which Publicis and Omnicom shareholders will each hold about 50 percent of the new company's equity.
Publicis said the transaction was expected to create "significant value for shareholders," with expected synergies of US$500 million. The merged group would keep its head offices in Paris and New York.
Maurice Levy, Publicis chief executive, said that Omnicom head John Wren and he had "conceived this merger to benefit our clients by bringing together the most comprehensive offering of analog and digital services."
Levy also said the French government was supportive of the merger.
The deal is likely to push the remaining advertising agencies to consider mergers to keep up. Current leader WPP may make a move for US-based Interpublic, France's Havas or Japan's Dentsu, said Pivotal Research analyst Brian Weiser.
"What would have been unthinkable previously would now make sense," he said.
Together, Publicis and Omnicom had combined 2012 revenue of US$22.7 billion, with more than 130,000 employees, and they would overtake WPP, worth US$24.1 billion.
The deal would bring together Publicis brands such as Saatchi & Saatchi and Leo Burnett with Omnicom's BBDO Worldwide and DDB Worldwide.
Wren and Levy will be joint CEOs for an initial integration and development period of 30 months, after which Levy will become non-executive chairman and Wren CEO, Publicis said.
The head of rival agency Havas questioned the logic of the merger, saying digital business and technology had made scale irrelevant, and that the uncertainties associated with large mergers would distract staff away from clients.
"I'm not sure this is in the best interests of their clients or their talent," David Jones said. "Clients today want us to be faster, more agile, more nimble and more entrepreneurial, not bigger and more bureaucratic and more complex."
French labor union CGT said the merger would fly in the face of the government's ambitions to preserve French brands, adding that the merged group would be dominated by the US in many areas.
It called on the French government and competition authorities to avoid a monopoly situation being created, adding that it would mobilize to protect jobs.
Israeli Arab rapper Tamer Nafar's politically charged lyrics have sparked the same kind of controversy that may have made his hero Tupac Shakur proud.
Nafar, from the pioneering political rap group DAM, has touched a nerve with songs like "Who's the Terrorist?" skewering what he and others say is discrimination against Arabs in Israel.
He has become a star among Israel's Arab population and Palestinians, but Israeli Culture Minister Miri Regev, a former military censor with a combative style, is not a fan.
She has singled him out for criticism, accused him of incitement and sought to have one of his recent performances canceled, helping make him a target of right-wing protesters.
Speaking to AFP in a recent interview, the 37-year-old, who wears a hoody, baggy pants and simple gold chain, dismissed her remarks, saying, "Regev is nothing but a government mouthpiece spreading racist poison."
Speaking after a concert in the Arab-Israeli city of Sakhnin attended by about 1,000 people, many of them teenagers, he pledged to continue with his strident lyrics matched with infective beats.
Regev accuses Nafar of taking it too far, reportedly saying he "chooses at every opportunity and before every possible audience to come out against the idea of the state of Israel and its existence as the state of the Jewish people."
She charges that some of his lyrics justify "terrorism."
Arab Israelis like Nafar are descendants of Palestinians who remained after Israel was created in 1948, and they currently make up around 18 percent of the country's population.
They tend to sympathize with the Palestinian cause and Nafar refers to himself as Palestinian.
Growing up in the 1990s in Lod, a mixed Israeli city southeast of Tel Aviv, Nafar listened to Tupac, the provocative US hip-hop star murdered in 1996.
Nafar said he saw similarities between the African-American struggle for equality and the Israeli-Arab experience.
"The imagery in Shakur's videos was similar to our reality in Lod - how the police were chasing them in the streets," he said.
"I found out we had something in common. I didn't speak English and I used to search for the lyrics in English, print them and sit in school with a dictionary translating them."
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