MDC REPORTS 60% Q1 REVENUES
MDC Partners reports a 60 percent rise in first-quarter revenues to $218M and a cut in red ink from $10.2M to $8.7M.
Organic revenues jumped 26.5 percent operating profit hit $2.2M compared to a $749K loss in the last year’s period.
CEO Miles Nadal says the performance is a “terrific way to begin the year.” He believes MDC’s “transformational” work for clients and “unique understanding of how consumers consume influence in a digital economy” drove Q1 results. He is keen on “creating platforms that have longevity, rather than short-term campaigns, leading to long lasting relations with clients driven by increasing return on marketing investment and resulting in a strong pace of news business,” according to his statement.
MDC predicts Q1 momentum will power it to a $1B run rate during the next nine months. The firm narrowed its net loss from $10.1M to $8.7M.
MDC’s PR units include Allison &Partners, Kwittken & Co. and Sloane & Co.
FLORIDA SEEKS FIRM TO WOO CANADIANS
Florida's tourism marketing organization is reviewing its Canadian PR account with RFP through May 16.
Visit Florida wants pitches from agencies that can guide strategic PR and communications to lure Canadian leisure travelers, build awareness of the organization, and boost tourism stats like length of stay and repeat visitations. Media relations (tours, inquiries, pitching) is the key component of a planned contract.
The RMR Group of Toronto currently handles the account. M. Silver & Associates is its U.S. PR firm.
VF is also reviewing its Latin American advertising and PR account.
Download the RFP at odwyerpr.com/rfps.
BRUNSWICK, SV WORK $5.7B HOSTILE BID
Brunswick and Sard Verbinnen & Company are squared off in the PR battle over Valeant Pharmaceuticals’ $5.7 billion hostile bid for Cephalon.
Frazer, Pa.-based Cephalon, which is working with Brunswick, said April 21 that it is urging shareholders to reject Valeant’s effort to replace its board and noted the company's current board is reviewing the takeover proposal, as well as “alternatives and options.”
“Valeant has no duty to act in the best interests of Cephalon's shareholders, but rather for Valeant shareholders and their interests – such as buying Cephalon at the lowest possible price,” read the statement from Cephalon.
Valeant, based in Mississauga, Ontario, shot back later that same day saying that Cephalon has not engaged the company.
Sard Verbinnen managing director Renee Soto and principal Cassandra Bujarski are handling media for Cephalon.