In a deal said to be reshaping the global advertising industry, Omnicom has reached a definitive agreement to acquire a major rival, the Interpublic Group (IPG), in a stock-for-stock transaction. If the deal receives regulatory approval, the New York-based ad giants will combine to form an agency that will be the largest in the world, bringing together ad legends TBWA Worldwide and McCann Worldgroup for what CNBC estimates will be more than $26 billion in annual revenue. The merger joins “world-class, highly complementary data and technology platforms” at a propitious time, thanks to seismic, AI-driven advances in marketing and adtech. Read more

Meta Platforms has packed more artificial intelligence into a smaller package with Llama 3.3, which the company released last week. The open-source large language model (LLM) “improves core performance at a significantly lower cost, making it even more accessible to the entire open-source community,” Meta VP of Generative AI Ahmad Al-Dahle wrote on X social. The 70 billion parameter text-only Llama 3.3 is said to perform on par with the 405 billion parameter model that was part of Meta’s Llama 3.1 release in July, with less computing power required, significantly lowering its operational costs. Read more

Perplexity is expanding the publisher program associated with its AI-powered search engine. Added to the list of participants who will share ad revenue and access performance data are Adweek, LA Times, Mexico News Daily, The Independent, Germany’s Stern, the World Encyclopedia and about 10 other media brands. They join existing partners including Time, Fortune and Der Spiegel. Emphasizing its ongoing investment in publishers, Perplexity named Jessica Chan, formerly with LinkedIn and its content partner program, as head of publisher partnerships. News of Perplexity’s content deals appears to be generating mixed feelings in newsrooms. Read more

Last week, a federal appeals court upheld a law that would force the sale of popular social platform TikTok in order for it to remain operational in the United States. Beijing-based parent company ByteDance is vowing to fight on with a petition for a hearing by the U.S. Supreme Court. The law, passed in April, invokes existing federal code that prohibits access to sensitive material by adversarial foreign nations of which China (along with Russia, Iran and North Korea) is one. Barring further court action, ByteDance will have to sell TikTok by January 19 or face bans at app stores. Read more

James Cameron’s Lightstorm Entertainment has debuted a new unit, Lightstorm Vision, which launches with a deal that sees Meta Quest become its exclusive mixed reality platform. The multiyear deal will see the Hollywood heavyweight partnering with Meta Platforms “to scale the creation of world-class 3D entertainment experiences spanning live sports and concerts, feature films, and TV series featuring big-name IP on Meta Quest,” Meta announced. In addition to producing original content for the Meta Quest, Lightstorm Vision will use its tech to help third parties create new programming and potentially conform existing work through MR conversion. Read more