Holding companies are all about integration right now, but signs point to it being more about consolidation.

At WPP, new boss Mark Read made the first big move atop the holding company by merging the digital chops of VML with the legacy “branding ability” of Y&R, creating a 7,000-strong agency that both Read and VMLY&R’s new global CEO Jon Cook say will make the combined entity stronger than the sum of its parts.

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