Overview

• The FTC approved the $13.5 billion acquisition under a 2-0-1 vote and imposed a consent order barring the merged firm from coordinating ad spend to exclude outlets for their political viewpoints.
• The combined company will become the world’s largest ad holding agency, boasting over 100,000 employees, $25.6 billion in revenue and projected synergies of $750 million.
• The conditions uphold individual advertisers’ right to choose placements while prohibiting the new entity from suppressing publishers based solely on political or ideological alignment.
• A 30-day public comment period precedes the commission’s final vote, and the deal still awaits green lights from UK and Australian regulators.
• FTC scrutiny was driven in part by concerns over alleged boycotts of platforms like X and the role of industry groups such as GARM in political ad coordination.