Stagwell completed the merger with MDC Partners in a $954m deal.

Stagwell, a media group, completed the merger MDC Partners, a marketing and communications network, in $954m deal. Combined company looks to create the transformative marketing company today's marketplace demands. Together, the companies will significantly expand their range of best-in-class capabilities, depth of expertise, and geographic footprint to deliver expanded value to clients, and meaningfully accelerate the combined company's growth. "Together, they unleash precisely the right talent and technology to create a transformative marketing services company offering scaled Creative Performance. MDC is celebrated for bringing award-winning creative firepower to the world's leading and most ambitious companies, and Stagwell has been built with deep and sophisticated technology at its core," Mark Penn, MDC Partners Chairman and CEO, and The Stagwell Group Managing Partner. On June 14, 2021, the companies decreased the total consideration from $982m to $954m.