Stagwell to invest $100 mln in MDC [Reuters]
MDC Partners, Inc (MDCA)
Last mdc partners, inc earnings: 10/29 08:00 am
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Source: Reuters
Stagwell to invest $100 mln in MDC The Stagwell Group MDC Partners Mark Penn Microsoft Bill Gates Tony Blair Bill Clinton Hillary Rodham Clinton. PRESS RELEASE NEW YORK, /PRNewswire/ — (NASDAQ: MDCA) – MDC Partners Inc. (“MDC Partners” or the “Company”) announced today that it 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 million non-voting convertible preference shares. In connection with the transaction, industry veteran Mark Penn will join MDC Partners as Chief Executive Officer and a member of its Board of Directors. This represents the conclusion of the strategic review process and CEO search that were initiated in September, 2018. Presiding Director of the MDC Partners Board of Directors, Irwin Simon, commented, “After a thorough review p
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