MDC Partners Inc. (NASDAQ: MDCA) and Stagwell Media LP have entered into a definitive transaction agreement to combine their respective businesses, uniting the award-winning talent of MDC with the advanced technology platform of Stagwell. Together, the companies will significantly expand their range of best-in-class capabilities, depth of expertise, and geographic footprint to deliver expanded value to clients, and meaningfully accelerate the combined company’s growth.
MDC Partners is known for its innovative advertising, public relations, branding, digital, social and event marketing agency partners, which are responsible for some of the most memorable and effective campaigns for the world’s most respected brands. By leveraging technology, data analytics, insights and strategic consulting solutions, MDC Partners drives creative excellence, business growth and measurable return on marketing investment for over 1,700 clients worldwide. Among the many varied partner agencies in the MDC family are 72andSunny, Activista, Anomaly, CPB, Cole McVoy, Doner, Forsman & Bodenfors, Laird+Partners, Vitro, and Yamamoto.
The Stagwell Group is billed as being the first and only independent, digital-first, and fully-integrated organization of size and scale servicing brands across the continuum of marketing services. Stagwell’s high growth brands include experts in four categories: digital transformation and marketing, research and insights, marketing communications, and content and media. Stagwell’s lineup of shops includes Wolfgang, Code and Theory, Sloane and Co., and Targeted Victory.
The combined company will provide the balance of integrated solutions that modern marketers need to succeed, including creativity and communications, scaled media and data capabilities, superior consumer insights, technology development and innovation, and digital transformation. With over 8,600 employees across 23 countries, the combined company will be ideally suited to lead marketers into the future, with deepened expertise in digital services, and more than tripling high-growth digital offerings to 32% of the combined business. With a track record of collaboration across disciplines bringing the right technology solutions to its blue-chip clients’ business and marketing challenges, the combined company’s network also brings experience in building and developing its own proprietary digital products to solve for gaps in the marketing ecosystem, which together could generate $90-$150 million annual top-line benefit over time.
Mark Penn, current CEO and chairman of MDC and managing partner of Stagwell, will continue as CEO and chairman of the combined company. The management team for the combined company will consist of existing executives from both MDC and Stagwell.
“This is a new day for MDC and Stagwell,” stated Penn. “Together, they unleash precisely the right talent and technology to create a transformative marketing services company offering scaled creative performance. MDC is celebrated for bringing award-winning creative firepower to the world’s leading and most ambitious companies, and Stagwell has been built with deep and sophisticated technology at its core. Unencumbered by legacy structures or assets, the combined company will have the integrated, modern offerings marketers deserve, and the resources to invest meaningfully in our global capabilities, our talent, and our clients’ future.”
The board of directors of the combined company will consist of nine members, including Penn and MDC Partners’ Bradley Gross. Three independent directors on the board will continue as directors in the combined company and the combined company shall cause such directors to be nominated at the company’s next two annual meetings; Stagwell will be entitled to designate the other four directors to serve on the board.
The combined company will remain headquartered in New York, and will maintain a significant presence in Washington D.C. The deal is expected to be finalized during the first half of 2021.
Taylor Swift Wins Big At MTV Video Music Awards, Ties Beyoncé’s Record
Taylor Swift 's dominance continued at the MTV Video Music Awards, where she took home seven awards — including the night's biggest, the trophy for video of the year.
In her speech Wednesday night, Swift thanked her "boyfriend, Travis" for being on set of the "Fortnight" music video and cheering her on. Fans rewarded the mention of NFL star Travis Kelce with loud screams.
"Everything this man touches turns to happiness and fun and magic," she said, before shifting gears to the 2024 presidential election and instructing her fans who are over 18 to register to vote.
Swift did, however, avoid discussing Kamala Harris' presidential bid on stage. On Tuesday night, Swift endorsed the vice president, moments after Harris' debate with former president Donald Trump ended.
Swift's awards haul brings her to a career total of 30, tying her and Beyonc for the title of most-awarded musician in VMA history. Eminem is now the male artist with the most VMAs, at 14.
Swift and Post Malone also took home the first televised award of the VMAs for best collaboration, for "Fortnight," handed to them by Flavor Flav and Olympian Jordan Chiles.
Swift started that speech by giving remembrance to everyone who lost their lives and loved ones during 9/11, 23 years ago.
"I've just been thinking about what happened 23 years ago, everyone who lost a loved one and everyone that we lost and that is the most important thing about today," she said. "And everything that happens tonight falls behind that."
She then turned to discussing Malone.
"There is a reason Post Malone is everyone in music's favorite person to collaborate with," she shifted her attention to him. "It has taken forever for me to get him to stop calling me... Read More