Mark Penn’s Stagwell Group has signed a 13-year lease for about 84,000 sq. ft. on the 62nd and 63rd floors of NYC’s One World Trade Center, the tallest building in the western hemisphere.
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Its holdings include SKDKnickerbocker (strategic communications), Harris Insights & Analytics (public opinion research), PMX Agency (marketing) and Code and Theory (digital).
Stagwell also has an investment stake in Finn Partners and their jointly owned shop Wye Communications.
“We are excited to be able to make an amazing new space for digital creatives and will be bringing together a great group of portfolio companies to foster synergies in a dynamic new workspace,” said Penn in a statement.
The former political consultant for Bill and Hillary Clinton and CEO of Burson-Marsteller is eager to expand Stagwell’s portfolio.
His operation has raised $250M in capital and says it may leverage that for a $750M acquisition spree.
The Durst Organization said OWTC has attracted 15 TAMI (technology, advertising, media, information tech) companies in its bid to position the 104-story skyscraper as the “epicenter of innovation and inspiration in Lower Manhattan.”
OWTC is 75 percent leased.
DJE Holdings, parent of Edelman and Zeno, launches RUTH as an independent shop named after Ruth Edelman, mental health advocate, wife and longtime business partner of Dan Edelman.
New York City PR firms make up the largest slice of O'Dwyer's 147 firm overall ranking with 33 of 40 in the New York/New Jersey area either calling Manhattan their home or having a presence there.
Subject Matter+Kivvit, which joined forces in May, has rebranded as Avoq, an integrated shop with more than 200 professionals in Washington, New York, Asbury Park (NJ), Miami and Chicago.
While PR pros stationed at in-house comms. teams and those working for agencies share many of the same objectives, they also have markedly different top priorities, according to a recent report.
Edelman is cutting 240 employees or about four percent of its workforce to cope with the cooling down of the PR sector, according to a memo from CEO Richard Edelman.
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