Dentsu on the Block: What a Sale Would Mean for CMOs
As Dentsu explores options for its international arm, CMOs face fewer agency partners but larger platforms—and more complicated choices amid industry upheaval.
Dentsu’s Possible Sale May Redraw the Global Agency Map and Reshape CMOs’ Strategic Terrain
This is a story that keeps getting bigger. What began as speculation about Dentsu weighing options for its international arm has now widened into a debate about the future shape of global marketing services. A possible sale could diminish agency options while consolidating platform power—a shift that demands attention now, not later.
Twelve months from now, the agency ecosystem may look unrecognisable. The rumour mill has been spinning, Dentsu has engaged M&A advisers to vet buyers for its international creative and media assets, the latest quake in a consolidation wave that includes the Omnicom–IPG tie-up and WPP’s ongoing strategic overhaul.
A parallel Campaign report suggests that Publicis could land a “knockout punch” by acquiring Dentsu, underscoring its ambitions to leapfrog rivals with scale and capability.
Jay Patterson, VP Principle Analyst, Forrester.
What’s at Stake for CMO’s
Consider this: a mid-sized global brand used to pitching creative to three networks—now it may face only two. One might lack access to Merkle’s global identity graph or the production velocity of Tag Group. That loss of choice has real consequences.
Forrester identifies key assets that make Dentsu particularly appealing: Merkle’s data and analytics prowess via the Merkury platform; a media billings engine of roughly USD 27 billion; and an advanced technology-production stack designed for efficiency and scale.
Who Might Win and What That Means
Publicis stands as the knockout candidate. The addition of Dentsu would vault it past Omnicom and WPP. But legacy overlaps—and the risk of regulatory scrutiny could make integration messy (forrester.com).
Havas could triple its media reach and absorb Merkle’s dark arts in data and activation, an M&A-hungry player already.
Accenture Song would gain media heft, but may clash internally—Merkle’s data could sit uneasily next to its audit and transformation offerings.
Private equity might prefer cherry-picking assets rather than a full-scale acquisition, but splitting tech from services risks defanging both pieces.
Campaign’s framing of Publicis’s ambition as the “knockout punch” lends the story a sharper angle: this isn’t just a sale, it’s a test of who may dominate the next generation of integrated marketing platforms (CMO’s in the Crosshairs
This isn’t theory. In the past year, average CMO tenure at Fortune 500 firms dipped from 4.1 years to 3.9, another sign of mounting pressure and shrinking runway. As agency rosters shrink, CMOs must decide whether to embrace broader, more consolidated partnerships or hold out for specialised agility.
(Note: this post incorporates perspectives from Jay Pattisall’s Forrester blog “What A Possible Dentsu Sale Means For CMOs” (2 September 2025) and a recent Campaign article suggesting Publicis could deliver a “knockout punch.”)Thanks for reading all the way to the end of the article! This post is public so feel free to share it, and if you have not done so already sign up and become a member.