 Mark Penn |
Stagwell Group chief Mark Penn is negotiating to assume the helm of MDC Partners and take an investment stake in the troubled ad/PR firm, according to the Wall Street Journal.
MDC, which faces a proxy fight at its June 4 shareholder meeting, has been conducting a strategic review.
The firm, which is the parent of Hunter, Allison+Partners, KWT Global and Sloane & Co., lost $36.2M during the nine-month ended September period on $1.1B in revenues.
It has long-term debt of $987M.
MDC CEO Scott Kauffman announced in September that he plans to step down once a successor is named.
Penn, former pollster for Bill and Hillary Clinton, ex-Burson Marsteller CEO and Microsoft chief strategy officer, had earlier tried to buy MDC with Apollo Global Management, according to the WSJ.
Stagwell's holdings include Finn Partners and SDKKnickerbocker.
Publicis Groupe posted five percent Q3 net organic revenue growth, marking “another very strong quarter” for the French-based firm, according to CEO Arthur Sadoun.
WPP chief Cindy Rose is cutting up to 1,000 jobs by the end of the year, adding to the 11K jobs lost since the start of 2025, according to a report in the Financial Times.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
