Join The Discussion

 

Bicycling, fitness center, rooftop bar coming to Clearfork's Trailhead

An 11,000-square-foot bicycling and fitness center is headed for the Trailhead at Clearfork on the Trinity River in west Fort Worth, Cassco Development said Wednesday.

read more >

Glen Garden rezoning for distillery, attraction, goes forward on 7-2 Fort Worth council vote

Fort Worth Mayor Pro Tem W.B. "Zim" Zimmerman moved to approve the rezoning on a substitute motion, after Council member Kelly Allen Gray initially moved to deny the case.

read more >

Residential land at Chisholm Trail Ranch purchased

Stratford Land, Legacy Capital Co. and the Walton Group of Cos. have snapped up 268 acres of residential land at Chisholm Trail Ranch in Fort Worth.

read more >

Fort Worth to consider adopting 15-year Cavile Place redevelopment plan

The 300-unit Cavile Place housing project in Southeast Fort Worth would be razed and replaced in phases, with a significant number of the units redistributed into the neighborhood.

read more >

Fort Worth payment processor acquired by pension plan group

Fort Worth-based First American Payment Systems has been acquired by an investor group led by the Ontario Teachers’ Pension Plan (Teachers’), with participation of members of the First American management team.

read more >

 

Omnicom, Publicis to form world's largest ad agency

 

Emily Jane Fox

NEW YORK (CNNMoney) -- Advertising giants, Omnicom Group and Publicis Groupe, announced Sunday that they will merge to create the world's largest ad agency.

The newly combined agency, Publicis Omnicom Group, would have a stock market value of $35.1 billion and 130,000 employees worldwide.

Publicis, based in Paris, and Omnicom, based in New York, together brought in revenue totaling $22.7 billion last year.

Chief executives Maurice Lévy of Publicis and John Wren of Omnicom will act as co-CEOs for the next 30 months, after which Lévy will become non-executive chairman and Wren the CEO.

Shareholders will each hold about 50% of the equity of the agency, which is expected to be listed on the NYSE and Euronext Paris under the symbol OMC. It will be traded on the S&P 500 and CAC 40.

Publicis Groupe shareholders will receive one newly-issued ordinary share of the agency for each Pubicis share they already own, with a special dividend of €1.00 per share.

Omnicom shareholders will get .813 newly-issued shares, with a special dividend of $2 per share.

The transaction is subject to approval by shareholders of both companies as well as government regulators. It is expected to close in the fourth quarter of 2013 or the first quarter of 2014.

< back

Email   email
hide
Training Camp
Training camp is starting this week. How will the Dallas Cowboys do this season?