A $31 Billion Ad Deal Shows the Mad Men Are Scared: Chris Hughes

Big deals are risky in most industries but especially in advertising — that’s why it’s so rare to see the so-called Mad Men give them a go. But the antitrust environment is easing, and the traditional marketing business is under pressure. Hence Omnicom Group Inc. is buying the Interpublic Group of Companies Inc. to create a new world number one in advertising. See it as one of the most obvious reactions to more benign conditions for deal making expected under a Donald Trump presidency.

On a narrow view, Omnicom is opportunistically swooping in on an underperforming peer. In late 2021, the ...