Mar
08
Stagwell eyes investment in MDC; Mark Penn could lead the holding company
Posted in: Uncategorized
Stagwell Group, the agency company founded by former Microsoft executive Mark Penn, is in negotiations to make a $100 million investment in MDC Partners under the terms being discussed, according to two people familiar with the talks. If the deal is finalized, Penn, known as a longtime political strategist for Hillary and Bill Clinton, is expected to lead MDC as part of the investment.
Stagwell is not expected to assume MDC if the deal closes. Instead, it is expected to get up to two board seats at MDC, which will remain as a separate publicly traded entity, according to the people familiar with negotiations.
Stagwell declined to comment.
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