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Mark Penn may be on the cusp of consolidating his advertising empire.
Stagwell Group, the holding company founded by Microsoft alum Penn in 2015, has proposed a merger with MDC Partners, where Penn serves as CEO. Stagwell Group executives delivered a letter proposing the merger to the MDC Partners board of directors on Thursday.
MDC Partners includes agencies such as 72andSunny, Anomaly, Assembly, Colle McVoy, Crispin Porter + Bogusky, Doner, Forsman & Bodenfors and mono. Stagwell’s agencies include Code and Theory, Finn Partners, Observatory, PMX Partners and Wolfgang.
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