Microtransactions and Beyond
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.
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 is the President and Managing Partner of The Stagwell Group, a private equity fund focused on the marketing services industry.