 Mark Penn |
MDC Partners shaved its first-quarter loss to $2.5M from $31.3M a year due to its cost-cutting measures of staff, real estate and corporate expenses put into place during 2018.
New CEO Mark Penn said MDC is "on the path to return to both bottom and top-line growth and positive cash flow by the end of the year."
He promised new steps to increase efficiencies, bolster intra-agency cooperation and expand the offerings of its lead shops.
Penn has implemented a two-year program to "transform MDC to the model of a modern marketing services company, combining top creative talent with leading data, research, strategy, digital and media offerings."
MDC's Q1 revenue inched ahead 0.6 percent to $328.8M. Its PR shops are Hunter, KWT Global, Sloane & Co and Allison + Partners.
WPP CEO Cindy Rose has retained Goldman Sachs to explore strategic options regarding its Burson PR flagship, according to a report in the London Times.
Mike Sitrick has bought his firm Sitrick And Company back from RGP, the Dallas-based management consulting firm. He sold the strategic communications powerhouse for $43.4M in Oct. 2009.
Omnicom CEO John Wren enjoyed a 222 percent jump in 2025 compensation to $69.9M as the firm completed the acquisition of Interpublic.
Public Policy Holding Company recorded 24.7 percent growth in 2025 revenues to $186.5M and a 32.1 percent surge in adjusted net income to $36.6M.
S&P Global has reaffirmed its negative “BBB” rating on WPP due to ongoing challenges that it will face during the next 12 months.
