Omnicom Group (OMC) Sells ICON Unit

June 11, 2021 1:03 PM EDT

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Omnicom Media Group, a subsidiary of Omnicom Group (NYSE: OMC), today announced the sale of ICON International, a specialty media company, to ICON's management team. The sale of ICON is part of Omnicom's continuing realignment of its portfolio of businesses and is consistent with its strategic plan and investment priorities.

Commenting on the disposition, John Wren, Omnicom's Chairman & CEO said, "I want to thank the management team and employees of ICON for their years of commitment to Omnicom and wish them continued success."

The disposition is not expected to have a material impact on Omnicom's ongoing operating income for the full year 2021. Going forward, the company's anticipated level of disposition activity is expected to be limited, and it expects to be principally focused on acquisition opportunities in precision marketing, martech and digital transformation, as well as commerce, media and healthcare.

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