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Investing.com -- Interpublic Group of Companies (NYSE:IPG) stock rose 2.5% following the Federal Trade Commission’s decision to impose restrictions on Omnicom Group’s (NYSE:OMC) $13.5 billion acquisition of the company.
The FTC accepted a proposed consent order that addresses antitrust concerns related to the merger, which would create the world’s largest media buying advertising agency. The restrictions specifically prevent Omnicom from engaging in collusion or coordination to direct advertising away from media publishers based on political or ideological viewpoints.
"Websites and other publications that rely on advertising are critical to the flow of our nation’s commerce and communication," said Daniel Guarnera, Director of the FTC’s Bureau of Competition. The agency’s complaint alleged that further consolidation in the media buying services market could increase the risk of coordination among remaining advertising agencies.
Omnicom and IPG currently rank as the third- and fourth-largest media buying advertising agencies in the U.S. The FTC’s proposed consent order includes provisions eliminating Omnicom’s ability to deny advertising dollars to media publishers based on viewpoint, except when expressly directed by individual advertiser customers.
The Commission voted 2-0-1 to issue the complaint and accept the consent agreement, with Commissioner Mark R. Meador recused. The public has 30 days to submit comments on the proposed agreement.
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