Print Published 17th Mar 2019, 14:56

Stagwell throws $100m lifeline to MDC after further $133m loss

Stagwell Group, the US investment fund headed by former Burson Marsteller chief executive Mark Penn – has invested $100 million in the Canadian loss-making group MDC Partners.  Penn will become chief executive officer of MDC, thereby ending the search for a replacement for Scott Kauffman whose imminent departure was announced last September (see Kauffman stepping down as MDC CEO).