The American Association of Advertising Agencies (AAAA) has written an open letter to the U.S. Department of Justice, urging them to approve the Microsoft-Yahoo! search deal. Announced at the end of July, the deal has Microsoft and Yahoo! partnering up on search in order to create what will become the number 2 search service in the United States.
In the letter (PDF), Nancy Hill, President and CEO of the AAAA, wrote:
These benefits are too important to wait for. As leading members of the advertising and marketing services industry, we urge the Department of Justice to bring its antitrust review to a speedy conclusion. This proposal enhances competition, and should be allowed to take effect as soon as possible.
CEOs of four ad agencies added their John Hancocks to the letter:
- Maurice Levy, chairman and CEO of Publicis Groupe
- Martin Sorrell, CEO of WPP
- Michael Roth, chairman and CEO of Interpubic Group
- John Wren, president and CEO of Omnicom Group
Analysts have predicted the regulatory approval process would be lengthy. But with the changes in the advertising industry over the past few years in addition to the current global economic uncertainty, it’s no surprise that agencies are seeking a quick resolution in this matter.