The FTC has proposed a consent order to address an antitrust complaint against the merger between Omnicom and Interpublic, alleging it violates competition laws. Although not directly mentioning Elon Musk or X, the complaint aligns with X's claims against an advertising group. The organization shut down a controversial project amidst these allegations. Omnicom's compliance with FTC demands helps avert potentially severe regulatory battles, with CEO Wren expressing optimism about regulatory approval for the merger in the near future.
By agreeing to the FTC's demands, Omnicom avoids having to fight allegations that the merger will enable illegal coordination. Omnicom CEO John Wren said, "We are delighted that our transaction with Interpublic has cleared this significant regulatory hurdle..."
Ferguson said that "the advertising industry has been plagued by deliberate, coordinated efforts to steer ad revenue away from certain news organizations, media outlets, and social media networks."
The FTC complaint mirrors X's claims by alleging that a federation project labeled "legitimate political speech" as "misinformation" and demonstrates the potential for future coordination.
The World Federation of Advertisers denies wrongdoing in the case filed by X, but it shut down its Global Alliance for Responsible Media (GARM) project.
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