Whilst media outlets were clamouring for WPP's take on relinquishing the title of world's largest media agency, the next band of media groups were quietly going about their business, with executives rallying their agencies and shares prices on the up.

Sir Martin Sorrell, chief executive of the former largest media group in the world, WPP, has voiced doubts over the Publicis-Omnicom merger that shocked the world on Monday morning, describing the move as a "big opportunity" for his agency.

In an unprecedented move, advertising and media giants Publicis Groupe of France and Omnicom of America have announced plans for a $35bn merger that will leapfrog WPP as the world's largest agency.

Social network Facebook has published its financial results for Q2 2013, with mobile advertising accounting for over 40% of total revenues.

LinkedIn the 'professional' network, has today announced brands and companies can now extend their Twitter and Facebook marketing strategies with the promoted placement of advertising in user's news feeds.