Ad giants Omnicom, Publicis call off merger

Advertising titans Omnicom and Publicis have called off their $ 35 billion merger, the deal bedeviled by corporate culture differences, regulatory issues and who would hold power in the combined firm. After nine months of talks between the US and French companies on creating the world’s largest advertising agency, the two sides said there were too many issues to surmount ‘within a reasonable timeframe’, including tax and regulatory challenges. But, despite what appeared to be a harmonious start to what was labeled a ‘merger of equals’, there were signs of differences at the top over who would control the combined company, according to AFP.