Advertising heavyweights MDC Partners and Stagwell Group call off their differences, agree to unite in a major merger deal.
Stagwell Group and MDC Partners to Combine Forces in Major Marketing and Advertising Merger
In a significant move for the marketing and advertising industry, Stagwell Group and MDC Partners have agreed to merge, subject to further approvals. This deal, proposed in June, will bring together two powerful players in the field, creating a new marketing and communications powerhouse.
The merger received regulatory approval in 2021, paving the way for the two companies to combine under the leadership of Mark Penn, who serves as both chairman and CEO of MDC Partners and managing partner of Stagwell Group.
Last year, Stagwell Group invested $100 million into MDC Partners, a move that hinted at the potential for a closer partnership. Now, that partnership is becoming a reality.
MDC Partners owns a number of well-known agencies, including 72andSunny, Anomaly, CPB, Colle McVoy, and Doner. Stagwell Group, on the other hand, boasts agencies such as Code and Theory and creative consultancy Wolfgang. The merger will allow these agencies to leverage each other's strengths, creating a formidable force in the industry.
As of the latest information, the merger has been approved by MDC Partners' board of directors. The deal is still pending further approvals, but with the backing of both companies and the regulatory green light, it seems likely that the merger will go ahead.
This merger is a significant event in the marketing and advertising industry, bringing together two major players to create a new powerhouse. As the details of the merger are finalised, we can expect to see exciting developments in the world of marketing.
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