Increases Overall Equity to 77% Interest in Firm
NEW YORK, Nov. 1 /CNW/ - MDC Partners announced today that they have
acquired an additional 28% equity stake in Crispin Porter + Bogusky (CP+B),
bringing both their voting and economic interest to 77% of the firm. This
increase is up from their prior stake of 49%. The transaction represents an
accelerated exercise of the Company's existing call options. In connection
with this acquisition, all of the four partners of CP+B agreed to extend the
terms of their partnership arrangements with CPB.
"MDC Partners has been a terrific partner to CP+B. This deal will allow
us to continue to do what we do best: Make our clients and their brands
famous. We will continue to make all decisions together on what is best for
CP+B," said Chuck Porter, Chairman of CP+B.
"As a creatively focused agency we've been so lucky over the years to be
in business with MDC Partners. They have always understood the mixture of art
and commerce that make a place like CP+B run," said Alex Bogusky, Chief
Creative Officer, CP+B
"We are privileged by our association with CP+B, the most prolific
advertising agency in the world," said Miles Nadal, Chairman and Chief
Executive Officer of MDC Partners. "We look forward to continuing to work with
all of our Partners at CP+B, including Alex Bogusky, Chuck Porter, Jeff Hicks
and Jeff Steinhour. As Partners, we will continue to invest in and grow the
business as they expand into new areas of the market and develop additional
ways to deliver impactful results for their clients. MDC also remains
committed to supporting and empowering the great talent resident at CP+B that
has made the agency the success it is today and we look forward to many more
prosperous years ahead."
Based in Miami and Boulder, Crispin Porter + Bogusky is considered by
many to be the pre-eminent advertising agency in the industry. Recent account
wins include the Domino's Pizza creative and media planning business, the Nike
Running, Nike Plus and Nike ID accounts, American Express Open and the Best
Buy branding assignment. The agency is perhaps best known for their role in
the turnaround of Burger King for which they handle both the national and
global accounts. CP+B's client roster also includes Volkswagen, Coke Zero,
Sprite, Ask.com, Geek Squad and the 'truth' anti-tobacco campaign, which is
considered by experts to be the most effective social marketing effort in
history. The world's most awarded agency, CP+B has the unprecedented
distinction of winning the Grand Prix at the Cannes International Advertising
Festival in five separate categories as well as being named Agency of the Year
nine times in the trade press. The agency and its work have been profiled in
The New York Times, The Wall Street Journal, USA Today, BusinessWeek, Forbes,
Fast Company, The Financial Times, Time, Newsweek, Advertising Age,
Creativity, Adweek and Brandweek as well as numerous international
publications and on both national and international television.
About MDC Partners Inc.
MDC Partners is a leading provider of marketing communications solutions
and services to clients in North America, Europe and Latin America. Through
its partnership of entrepreneurial firms it provides advertising, specialized
communications and consulting services to leading brands. MDC Partners'
philosophy emphasizes the utilization of strategy and creativity to drive
growth for its clients. "MDC Partners is The Place Where Great Talent Lives".
MDC Partners Class A shares are publicly traded on the NASDAQ under the symbol
"MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".
For further information:
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Corporate Communications, (305) 646-7366, firstname.lastname@example.org; INVESTOR
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