Welcome in, today is Wednesday, July twenty-ninth, and we begin with Omnicom's second quarter, reported by Barchart. Omnicom's core operations turned over six billion dollars in the quarter, with organic growth of six point one percent. That comes from the company's results, carried by Barchart. Adjusted EBITA from those core operations reached one point one billion dollars, a margin of seventeen point eight percent against fifteen point nine a year earlier, which the same account attributes primarily to cost reduction synergies. Reported revenue was six point six billion dollars, up two and a half billion year on year, largely the arithmetic of folding in Interpublic, which closed in November. Integrated media supplied just over half of core revenue, at three point one billion dollars. Repositioning and integration costs ran eighty-seven point one million, mostly severance tied to that acquisition. FinancialContent puts the top line about two percent ahead of analyst consensus, with adjusted earnings of two dollars sixty-five a share, in line with estimates and up from two dollars five a year earlier, while adjusted EBITDA landed under the sell-side number. Chairman and chief executive John Wren said the results reflect what he called the momentum of the new Omnicom, pointing to agentic marketing transformation and to clients consolidating more work with the group. This is the first quarter with the enlarged company reported on a combined basis, which makes it the comparison base every rival's results will be read against this season. Industry reaction looks past the quarter to the holding company itself: a recurring framing is that the acquired side's debt now sits on the combined balance sheet, and that sector valuations still assume revenue synergies consolidation has not reliably delivered. Staying with the same holding company. OMD has repeated as the world's largest media network, managing thirty-five point one billion dollars in client media expenditure last year, up two and a half percent, for a nine point nine percent share of global activity. That is from RECMA's overall activity volume report for full-year twenty twenty-five, reported by MediaPost, and the measure counts both traditional billings and billings-equivalent dollars for work like data analytics, search, e-commerce and content production. It is also the table networks carry into new-business pitches, which is why the direction of travel in it matters as much as the order. WPP's EssenceMediacom holds second at twenty-nine billion, down four point seven percent, with Mindshare third and also shrinking. Publicis Groupe's Zenith and Starcom take fourth and fifth, both growing above ten percent. The extract reads that pattern as confirmation of recent new-business trends, negative for WPP Media, strongly positive for Publicis Media. At group level, Omnicom Media, now including Interpublic's media assets, leads on thirty-two point seven percent share, ahead of WPP Media on twenty-four point four and Publicis Media on twenty-four. The same reporting has RECMA projecting Publicis Media to overtake WPP Media this year, with Omnicom staying top on scale alone. Publicis, per that extract, secured the most significant pitches of the past twelve months, among them Mars, Paramount, Coca-Cola USA, Kenvue and Microsoft. Fastest growth since twenty twenty-two went to Dentsu's iProspect, up thirty-five percent. Now, a few more headlines moving the trade today. Following our earlier report on Adidas moving its global media account to Omnicom, TechDailyPost adds that lead agency PHD took this year's Cannes media Grand Prix. Adweek reports Mark Zuckerberg unveiled a film on Facebook opening a broader paid and earned campaign around Meta's AI vision. Marketing Dive reports Anomaly is taking over United States creative for Popeyes from McKinney, a roster change the chain frames around brand consistency. Also per Marketing Dive, how a query is worded largely determines whether a brand surfaces in AI search overviews, with category searches the most favorable. And finally, Brandtech founder David Jones tells the Financial Times ninety-five percent of the work could be done by fast, efficient machines, an argument the paper sets against reported doubts over the group's four billion dollar valuation.