Welcome in, today is Friday, October twenty-third, and we begin with reporting from Adweek that Coca-Cola has split its media business across two holding companies. Coca-Cola has closed out a review of its global marketing operating system, and the outcome leaves the largest beverage media budget in the United States sitting on two holdco rosters at once. Per Adweek, WPP retains the global media account and keeps the creative and production business, while Omnicom takes North America, beating Dentsu in a separate review. That reporting notes the North America pitch existed only because Publicis resigned the account to take PepsiCo's global media business, and that WPP chose not to compete for it. Investing.com reports Omnicom will work alongside WPP StudioX in the region, folding media, data, CRM, loyalty and creator partnerships into one structure, with Dentsu continuing in Japan and South Korea. Digiday puts the assignment at roughly seven hundred to eight hundred million dollars a year, close to what PepsiCo spent in the market. The same reporting says Omnicom handled about one point one billion of PepsiCo's billings globally, so the win covers most of that loss without replacing it. That reporting also says few in the industry were surprised by the outcome, with Omnicom the favorite from the moment Coca-Cola reopened North America and Dentsu its only serious rival. The new structure phases in from December first. Also today, Omnicom's third quarter: organic revenue growth of seven point two percent, up from six point one percent in the second quarter and three point nine in the first. Chief executive John Wren told Digiday growth has improved sequentially every quarter this year, each quarter running ahead of the last since the Interpublic deal closed last November. Core operations revenue was six point oh billion dollars against six point four billion reported, the gap being four hundred twelve million in dispositions and assets held for sale. Core adjusted EBITA margin reached eighteen point two percent, up two hundred basis points year over year. Diluted earnings per share came in at two dollars thirty-eight, or two seventy-three adjusted, up twenty-two percent. Investing.com reports that topped a consensus of two sixty-seven and lifted the shares after hours. Chairman and chief executive John Wren said the company remains on track for nine hundred million dollars in cost-reduction synergies this year as the Interpublic integration nears completion. Full-year guidance is now about five percent organic core growth. On the platforms side, Adweek reports Meta's updated commercial terms take effect October thirtieth, making advertisers solely responsible for whatever its AI features create or alter, including features Meta switches on itself. The same reporting says buyers have found the platform reworking their ads unasked, and that Bookshop dot org said on Threads an account update opted it into a generative feature that added an AI illustration to a human-made ad. Some in the channel read the consent mechanism as the more consequential detail, since continued use after the deadline counts as agreement. Separately, Publicis has named Scott Hagedorn the first chief executive of Marcel, its AI platform, with Sam Levine Archer as chief strategy officer, according to Adweek. That account says Marcel launched in two thousand seventeen as an internal staff network and now builds agents for more than ninety clients, with four hundred people on it globally. Naming leaders over a holdco's own AI stack tests how agency-built agents hold up against tools clients could license directly. Publicis' group chief strategy officer told the outlet clients now ask how the company differs from Claude Pro or OpenAI. Per that reporting, Marcel runs on those same models with a routing layer that checks Publicis data first, and a spokesperson said it will not carry its own profit and loss. Now, a few more headlines moving the trade today. Adweek reports Dentsu Creative has expanded its scope with Diageo across U.S. trade and shopper marketing, inside a relationship that outlet says spans more than twenty-five years. Across the category, AdExchanger reports Meta grew third-quarter revenue twenty-six percent, to nearly sixty-five billion dollars per Marketing Dive, with expenses up sixty-eight percent on capital spending. Adweek also reports Common Interest has expanded its U.S. presence with an investment in Mirimar, its biggest move in the market to date. And finally, Shannon Nunn has been named chief executive of LePub New York, per Adweek, with the former Special U.S. president leading the network's new stateside hub.