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.

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@PatrickCoffee patrick.coffee@adweek.com Patrick Coffee is a senior editor for Adweek.
@ErikDOster erik.oster@adweek.com Erik Oster is an agencies reporter for Adweek.