In the late 1990s and early 2000s, the consolidation of industry was already evident in mergers and acquisitions that were happening globally (Jain & Roy, 2012). Global advertising today is dominated...

In the late 1990s and early 2000s, the consolidation of industry was already evident in mergers and acquisitions that were happening globally (Jain & Roy, 2012). Global advertising today is dominated by five giants (WPP, based in London; Omnicom, based in New York; Publicis Group, based in Paris; Inter publics, based in New York; and Dentsu, based in Japan).