US FTC Clears Publicis Groupe's $2.2B LiveRamp Acquisition Under Five-Year Consent Decree

The US Federal Trade Commission cleared French media company Publicis Groupe SA to complete its $2.2B acquisition of San Francisco-based digital advertising platform LiveRamp Holdings Inc., contingent on a five-year consent decree. The FTC's two Republican commissioners voted to approve the settlement, which requires Publicis to grant rival agencies equal, non-discriminatory access and support for LiveRamp's data connectivity services. Under the five-year order, Publicis must establish internal firewalls to prevent the misuse of competitor data and appoint an independent auditor to monitor ongoing compliance. LiveRamp shares rose 2.4% to a session high following the settlement announcement, while Publicis stated it is committed to operating the platform with fair access, client data safeguards, and ongoing oversight. Publicis originally agreed to acquire LiveRamp in May amid broader advertising agency consolidation driven by competition from major tech platforms and artificial intelligence disruption.