Stagwell Group Reportedly Agrees to $100 Million Investment in MDC Partners

Mark Penn to take over as CEO, according to multiple outlets

Penn has a long history in politics and public relations. Getty Images

Stagwell Group, the self-described holding company alternative founded by former Microsoft executive Mark Penn in 2015, has reportedly agreed to make a $100 million investment in MDC Partners. Penn will take over as CEO of the struggling holding company following the deal and assume a role on its board of directors.

The Business of Marketing

Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth. Tune in.

@PatrickCoffee Patrick Coffee is a senior editor for Adweek.
@ErikDOster Erik Oster is an agencies reporter for Adweek.