MDC Partners (MDCA) Misses Q4 EPS by 29c, Revenues Miss; Completes CEO Search & Strategic Review, Announces $100M Investment and Subsidiary Sale

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Go back to MDC Partners (MDCA) Misses Q4 EPS by 29c, Revenues Miss; Completes CEO Search & Strategic Review, Announces $100M Investment and Subsidiary Sale

MDC Partners (MDCA) Appoints Mark Penn as CEO; Reports $100M Strategic Investment from The Stagwell Group

March 15, 2019 7:10 AM EDT

MDC Partners Inc. (NASDAQ: MDCA) 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... More