Publicis Groupe Chairman and CEO Arthur Sadoun called Omnicom Group’s proposed acquisition of Interpublic Group of Cos. a “positive” for the industry, and said the deal should make for “a lot of fun” in 2025, in an internal video to employees—roughly a week after Publicis enlisted Snoop Dogg to prematurely declare it the world’s biggest holding company in a “Wishes” holiday video.

If Omnicom is successful in buying IPG, it will become the world’s largest agency company; the two companies had a combined $25.6 billion in revenue in 2023. WPP, which has held the world’s largest agency company spot for years, reported net revenue of $15 billion last year, while Publicis’ was $14 billion.

“I hope you are enjoying being the top dog,” Sadoun said in the video Thursday. “But don’t get used to it because it may not last past 2025. … Overall, I think this is positive for the industry at large.”

Sadoun said the French holding company is currently in a good position on Wall Street, with analysts describing it “as a good house in a bad neighborhood.” But that neighborhood “would start to look a lot better if we move to three main global players,” he said. (Other holding companies beyond the top ones include Dentsu, Stagwell and Havas.)

Sadoun reiterated what many in the industry have said about the deal: that integrating the two behemoths may be a distraction to both companies. Sadoun said he expects the integration will be extensive—citing personal experience, given the proposed merger of Omnicom and Publicis, which was announced in 2013 and aborted in 2014.

“On our side, our transformation is behind us. We have invested in data and technology in the last decade roughly what Omnicom will pay for IPG in one go,” Sadoun said. “More than ever, we should focus on our clients as they are counting on our partnership to drive growth and leapfrog their industries. It is our job to get them there.”

Sadoun ended by saying he’s always had respect for Omnicom Group CEO John Wren and IPG CEO Philippe Krakowsky. “Not only because one was my boss 20 years ago, and the other speaks French very well. I’ll let you guess which one is which,” he said. (Sadoun founded an agency, Z Group, that he sold to Omnicom’s BBDO in 1997, and also spent time at Omnicom’s TBWA. And Krakowsky does indeed speak French.)

Stagwell Chairman and CEO Mark Penn also responded to the proposed merger in a LinkedIn post on Wednesday, but he wasn’t as upbeat as his Publicis peer. He similarly pointed out that integration would be tough, and said, overall, he thinks it will not have many benefits.

“I’m struggling to see the benefit to the companies involved, the industry, or the clients they serve,” Penn wrote in the post, also noting the thousands of people who will likely be laid off as a result of the deal, should it be approved. “Ultimately: is there anything a $26 billion company can do that a $13 billion company can’t? If anything, technology is making it easier for smaller to be bigger as AI enables agencies to do more with less.”

In the Dec. 4 Publicis holiday video, rapper Snoop Dogg, who played a starring role in NBC’s Paris Olympics coverage, awarded the holding company “gold” for its performance in 2024, with this bold statement: “Americans, Brits and French have been competing to see which holding company is the ‘Top Dogg.’ And this year, Publicis has overtaken them all.”

In June, Sadoun told Ad Age he believed Publicis was trending to reach, and likely surpass, WPP in terms of net revenue by the end of the year. Even if it does, it likely will not soon surpass Omnicom-IPG, should that deal close during the second half of 2025 as expected.