WASHINGTON–(BUSINESS WIRE)–Stagwell Media LP announced today that it intends to recommend the appointment of Eli Samaha, Founder and Managing Partner of Madison Avenue Partners, LP, to the Board of MDC Partners, Inc. (Nasdaq: MDCA) upon the closing of the combination of MDC with Stagwell. Madison is one of the largest shareholders of MDC today and has expressed its support for the Transaction.
“Eli has impressed me with his insights into our business, understanding of the digital marketing and advertising sectors as well as his knowledge of corporate finance and capital allocation,” said Mark Penn, Chairman and CEO of MDC Partners and Managing Partner of the Stagwell Group. “He is an accomplished investor and one of MDC’s largest shareholders. I am confident he will be a differentiated voice in the board room and will add substantial value to the combined company. We are pleased to have earned his support for the transaction.”
Mr. Samaha commented, “As a long-term investor in MDC, I appreciate the efforts of other shareholders to strongly advocate for and to secure a superior outcome. I believe this transaction, as currently structured, represents the best path forward. The power and capabilities of the combined company substantially exceed either on its own. I look forward to working with Mark and the team as we set our sights on the goal of building the preeminent global marketing and advertising company.”
Eli Samaha is the Founder and Managing Partner of Madison Avenue Partners, LP, a value-focused investment manager whose partners include leading university endowments, hospital systems, and philanthropic foundations. Prior to founding Madison, Mr. Samaha was a Partner at Newtyn Management and held roles at KPS Capital Partners and GSC Group. He received a bachelor’s degree in Mathematics from Dartmouth College.
About Stagwell Marketing Group
The Stagwell Marketing Group is the first and only independent, digital-first, and fully-integrated organization of size & scale servicing brands across the continuum of marketing services. Collaborative by design, Stagwell is not weighed down by legacy points of view and its people are united in their desire to innovate, evolve, grow and deliver superior results for their clients. Stagwell’s high growth brands include experts in four categories: digital transformation and marketing, research and insights, marketing communications, and content and media. Stagwell is a private equity fund that owns all interests in Stagwell Marketing Group LLC through a wholly owned holding company named Stagwell Marketing Group Holdings LLC. Stagwell Marketing Group LLC and its businesses are managed by The Stagwell Group, a registered investment advisor. The address of Stagwell is 1808 Eye Street, Floor 6, Washington, D.C., 20006. As of the date hereof, Stagwell and its affiliates beneficially own 50,000 series 6 preference shares (representing 100% of the outstanding Series 6 preference shares) and 14,425,714 Class A shares (representing 18.7% of the outstanding Class A subordinate voting shares) of MDC, collectively representing 19.9% of the issued and outstanding Class A subordinate voting shares of MDC, as calculated on an as-converted basis. There will be no change in the beneficial ownership of Stagwell and its affiliates of MDC securities following the announcement of the foregoing.
