Microtransactions and Beyond
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.
It’s official: Mark Penn is MDC Partners new CEO, a role Penn agreed to take on as his own burgeoning holding company Stagwell Group struck a deal to invest $100 million in the MDC network. As CEO, Penn will lead all day-to-day operations as well as join the MDC Board […]
MDC Partners has received a $100 million dollar investment from Stagwell Group as it names Mark Penn as its new CEO and releases its full year and Q4 results for 2018. Stagwell is purchasing $50 million in MDC Partners common shares and $50 million non-voting convertible preference shares.
Embattled holding company MDC Partners has a new owner. The Stagwell Group, a new-model agency holding company helmed by former Microsoft chief strategy officer and political advisor Mark Penn, said Friday it will invest $100 million to take a 30% minority stake in MDC Partners. Penn will become CEO and […]
Mark Penn’s Stagwell Group has thrown a new lifeline to agency holding company MDC Partners, investing up to $100m for a 30 per cent stake. Penn (below), a former senior Microsoft exec and one-time head of Burson-Marsteller will become CEO of MDC and join the board. Former CEO Scott Kauffman, […]
MDC Partners (NASDAQ:MDCA) reported 12/31/2018 earnings this Morning, coming in at ($1.46) per share, missing Wall Street’s estimates of $0.31 per Share. Revenue for the quarter came in at $393.60 million missing the streets estimates of $394.10 million
The Stagwell Group has agreed to invest $100 million in MDC Partners, a marketing and communications network. As a result of this transaction, Mark Penn, founder of Stagwell, will become CEO of MDC and a member of its board of directors. Penn’s background includes senior executive positions at Microsoft as […]
Mark Penn to take over as CEO, according to multiple outlets 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 […]
The digital revolution has left major brands unsatisfied, unsure if they’re getting the most out of their marketing dollars. It has opened the door for smaller entities that are unencumbered by legacy business structures and are empowered by disruptive technologies, firms that can create groundbreaking work and compete with established […]
Stagwell Group, founded by former Microsoft executive Mark Penn, has acquired a majority stake in creative digital agency Code and Theory. The deal follows closely behind Stagwell’s acquisition of National Research Group from Nielsen at the end of November and PR and political consulting firm SKDKnickerbocker in October. Code and […]
Mark Penn is the President and Managing Partner of The Stagwell Group, a private equity fund focused on the marketing services industry.