Three major global advertising companies have reached settlements with the Federal Trade Commission over claims they colluded to restrict advertising revenue to conservative media platforms, according to regulatory filings and company statements.

WPP, Dentsu and Publicis, which collectively handle billions in global advertising spending, settled the claims without admitting wrongdoing. The FTC had alleged the companies coordinated policies ostensibly designed to combat misinformation that had the effect of steering client advertising dollars away from certain media platforms, particularly those with conservative editorial positions.

The investigation, which began last year, examined whether the advertising firms were systematically shifting client spending away from specific media outlets. The probe focused on industry practices around brand safety guidelines and how those policies were implemented across different types of media properties.

The settlement terms were not immediately disclosed, though the companies agreed to modify certain business practices going forward. The case represents one of the FTC's most significant interventions in the digital advertising ecosystem, where a handful of major agencies control substantial portions of global ad spending.

The three companies are among the world's largest advertising holding companies, managing campaigns for major brands across television, digital platforms, and print media. Their policies regarding ad placement have significant influence over which media outlets receive advertising revenue, a key source of funding for news organizations and content creators.

The FTC's action comes amid broader scrutiny of how advertising industry practices affect media competition and the flow of information to consumers. Regulatory officials have expressed concern about concentrated market power in digital advertising and its potential impact on media diversity.