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Publicis and Cordiant form new holding company

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London-U.K.-based Cordiant Communications plc and Publicis Groupe SA said Thursday they have entered into a definitive agreement to merge their respective Zenith Media and Optimedia units into a new, U.K.-based holding company. The companies said the transfer would create the fourth-largest media communications group in the world. Zenith and Optimedia currently rank ninth and 10th with billings of $4 billion and $3.6 billion, respectively, according to BtoB's sister publication Advertising Age.
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