 |
| Mark Penn |
Stagwell Group and MDC Partners have ironed out a definitive merger agreement to form what CEO Mark Penn calls a $2B “transformative” marketing services company with 8,600 employees in 23 countries.
The merger creates a roster of PR/PA firms that includes Finn Partners, KWT Global, Hunter, Allison + Partners, Sloane & Co and SKDKnickerbocker.
That group generates about 16 percent ($320M) in overall revenues.
Advertising (37 percent) is the largest component of the enlarged operation followed by digital services (32 percent), research (six percent), “other” (six percent) and media (four percent).
Penn, who currently helms both firms, is shooting for $3B annual revenues by 2025.
That goal is based on achieving $2.6B in revenues via five percent plus annual organic growth and a 10 to 15 percent boost in digital marketing business; $325M in revenues from M&A activities and the addition of $75M in “new digital revenues streams."
Stagwell and MDC, which announced a non-binding deal in October, expect the merger will be completed during the first half of 2021.
Publicis Groupe’s H1 net revenues inched ahead by 1.1 percent to $8.3B. Organic growth hit the 4.7 percent mark.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
