Microtransactions and Beyond
The Stagwell Group has made a $100m strategic equity investment into marketing and communications network MDC Partners. The agreement comes after MDC launched a strategic review process and CEO search in September 2018.
It’s official; Mark Penn of Stagwell Group will become CEO of MDC. The Wall Street Journal reports that Penn’s company, the Stagwell Group, reached an agreement to invest in ad-holding company MDC Partners Inc. for $100 million. As part of the deal Penn becomes CEO of MDC and joins the […]
Stagwell Group, the self-described holding company alternative founded by former Microsoft executive Mark Penn in 2015, has reportedly agreed to make a $100 million investment in MDC Partners. Penn will take over as CEO of the struggling holding company following the deal and assume a role on its board of […]
MDC Partners Inc. has entered into an agreement with The Stagwell Group pursuant to which Stagwell, a private equity firm that manages investments in new media and digital marketing services, has invested $100 million in MDC Partners through the purchase of $50 million in MDC Partners common shares and $50 […]
Mark Penn has assumed the helm of MDC Partners as his Stagwell Group agrees to pump a $100M equity infusion into the financially strapped ad/PR company. With the investment, MDC has called off its strategic review and search for a CEO.
The Stagwell Group, a private equity firm that manages investments in new media and digital marketing services, today announced its fund, Stagwell Media LP, has invested $100 million in MDC Partners, Inc through the purchase of $50 million in MDC Partners common shares and $50 million non-voting convertible preference shares. […]
NEW YORK (AP) — MDC Partners Inc. (MDCA) on Friday reported a fourth-quarter loss of $81.6 million, after reporting a profit in the same period a year earlier. The New York-based company said it had a loss of $1.46 per share. Losses, adjusted for non-recurring gains, were $1.48 per share.
MDC Partners (NASDAQ:MDCA): Q4 GAAP EPS of -$1.46. Revenue of $393.66M (-2.3% Y/Y) misses by $0.44M. Shares +33% PM.
MDC Partners Inc. MDCA 2.15% shares rose 30.5 percent to $2.65 in pre-market trading after the company reported Q4 results. MDC Partners named Mark Penn as CEO and disclosed that The Stagwell Group has made a $100 million strategic equity investment in company.
New CEO Mark Penn voices confidence in ‘flagship’ agencies One day after confirming a $100 million investment from Mark Penn’s Stagwell Group, agency holding company MDC Partners reported net new business gains in today’s earnings call despite a challenging year and fourth quarter.
Mark Penn is the President and Managing Partner of The Stagwell Group, a private equity fund focused on the marketing services industry.