Experience ADWEEK House at Cannes, June 16-19. We’re celebrating 45 years of reporting with Now and Next—a creative opportunity for brands to define who they are and their future in the industry. Register .
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.
MDC Partners reportedly briefed its executive team on the transaction at 5 p.m. today. Media outlets started reporting the news this evening, citing an internal memo outlining the deal and an interview with Penn.
“The
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Spring Special
Save 30% Off an ADWEEK Subscription Today!
Already a member? Sign in