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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.
Penn, who will assume the CEO role, also expressed confidence in the company’s “flagship” properties like 72andSunny, CPB and Forsman & Bodenfors, calling them “second to none.”
MDC’s stock price shot up in early trading before leveling off. At press time, shares were up approximately 5 percent and trading at $2.13.
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