Now that the drama has died down around the merger process between The Stagwell Group and MDC Partners – the two finally became one in August – Stagwell, as the new entity is being called, has its eye on cracking into media. The Stagwell Media Network was born in August as the combination of eight agencies in […]
Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here. Jedi Mind Trick? More details are coming out about Google and Facebook’s alleged sweetheart deal to rig Google’s ad auction. The tech giants agreed to “cooperate and assist one another” if they ever faced an investigation into their pact, according to an unredacted version […]
The holding company MDC Partners was already struggling before COVID-19 decimated the US economy. But a proposed merger by Stagwell Group, first reported by AdAge late Thursday, demonstrates how the pandemic likely accelerated the end of MDC’s run as an independent public company. MDC Partners and Stagwell Group did not respond to requests for […]
Embattled holding company MDC Partners has a new owner. The Stagwell Group, a new-model agency holding company helmed by former Microsoft chief strategy officer and political advisor Mark Penn, said Friday it will invest $100 million to take a 30% minority stake in MDC Partners. Penn will become CEO and sit on MDC’s board. The […]
As the traditional holding company model declines, new models are rising as competition. While the “big six” – WPP, Publicis Groupe, IPG, Dentsu Aegis, Havas and Omnicom – still rule, legacy structures and poor financial performance are causing their dominance to wane. In March, WPP lost $2.6 billion from its market cap. Omnicom has been […]
