MDC Shareholders Approve Merger With The Stagwell Group

New ad company seeks global scale to compete against four major holding networks

Mark Penn is getting his way. MDC Shareholders have voted to approve the previously announced merger between MDC Partners and Penn’s other holding network Stagwell Group. MDC Shareholders will own 31% of the newly named Stagwell. The company will be traded on the NASDAQ Stock Exchange after the deal is completed August 2.