FTC Greenlights Blockbuster $13.5B Omnicom-Interpublic Merger—But Slams Door on Political Ad Discrimination

Regulators just rewrote the rulebook for advertising's biggest power play.

The FTC's verdict? A $13.5 billion mega-merger gets the nod—but with one brutal catch.

No more playing favorites with political ads. The era of shadow-banning campaigns? Officially over.

Wall Street analysts are already placing bets on how long before someone 'accidentally' violates this rule. (Spoiler: 3...2...1...)

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Omnicom and Interpublic first announced the deal in December 2024. Both firms expect the transaction to close in the second half of 2025, pending remaining approvals from international regulators.

The FTC Adds a Unique Condition to the Merger

The FTC’s approval comes with a unique condition. The merged company is prohibited from steering ad dollars away from media outlets based on political or ideological viewpoints. The agency’s order also bars the company from accepting client requests to blacklist certain publishers due to political content. The FTC’s condition follows growing concern that major ad agencies could quietly steer spending away from media outlets based on political content. The agency wants to prevent any behind-the-scenes coordination that could distort competition or limit the reach of certain publishers.

Both companies welcomed the approval.

Omnicom CEO John Wren stated that the deal provides clients with broader access to creative, data-driven, and technology solutions. Interpublic CEO Philippe Krakowsky emphasized the combined group’s ability to leverage talent, technology, and geographic reach.

Regulatory Concerns on Competition and Media Fairness

The FTC’s added restrictions reflect deeper concerns over how advertising power can influence both competition and media sustainability. According to the agency, advertising firms that organize politically motivated boycotts could distort market dynamics and suppress public discourse.

FTC Competition Bureau Director Daniel Guarnera warned that “coordination to suppress spending on publications with disfavored viewpoints” threatens fair competition and harms publishers that rely on advertising. The order also mandates five years of compliance reports and encourages media outlets to report exclusionary practices.

These terms come at a time when political pressure and advertiser behavior are under growing scrutiny. The FTC has signaled a broader interest in making sure dominant media buyers do not tilt the ad market in ways that disadvantage smaller or politically unpopular outlets.

Using Tipranks’ Comparison Tool, we’ve compared the two entities to gain a broader perspective on each company’s state following the merger’s approval.

Looking Ahead

Once finalized, the merger will reshape the global ad landscape. Investors are watching for synergies, client retention, and possible shifts in agency structure. The FTC’s involvement also puts future large-scale mergers in the sector under a more sensitive lens. For now, Omnicom and Interpublic are cleared to MOVE forward, with guardrails firmly in place.