MDC Partners
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Formerly called
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Multi Discipline Communications |
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| Public | |
| Traded as | NASDAQ: MDCA |
| Industry | advertising, public relations, marketing |
| Founded | December 19, 1986 |
| Founder | Miles Nadal |
| Headquarters | New York City, United States |
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Area served
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Worldwide |
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Key people
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| Revenue | US$1.326 billion (2015) |
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Number of employees
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5,690 (2016) |
| Website | www.mdc-partners.com |
MDC Partners Inc. (NASDAQ: MDCA) is an advertising and marketing holding company based in New York City. MDC is structured as a partnership model, in which it initially acquires a majority stake in its partner agency, leaving a percentage of ownership with the founder. It has more than 50 partner firms worldwide.
MDC Partners was founded as Multi Discipline Communications in 1980 in Toronto by Miles Nadal. The company held an IPO on October 16, 1987.
The company operated two divisions in the 1990s: Marketing and Communications and Secure Transaction Products, which included the production of checks, credit and debit cards, tickets, and stamps. Toward the end of the 1990s, MDC concentrated on growing its marketing and communications business. It continued to expand into the United States, surpassing CAD$1 billion in revenue in 2000 through acquisitions and organic growth.
In 2001, MDC formed its first "partnership" with the agency Crispin Porter + Bogusky.
In January 2004, the company changed its name to MDC Partners Inc.
MDC became the first advertising company to build a capability designed for automated, or programmatic, media trading, with the formation of Varick Media Management, in 2008.
The company acquired Anomaly in 2010 and 72andSunny in 2011.
On July 21, 2015, Miles Nadal announced his resignation as CEO in response to an investigation by the U.S. Securities and Exchange Commission regarding executive pay and accounting practices. Nadal agreed to pay back $1.9 million in expenses and $10.6 million in salary and bonuses. He did not receive any severance or compensation for resigning. Chief accounting officer Michael Sabatino also announced his resignation and will reportedly repay $208,000 in bonuses. MDC’s presiding director of the board, Scott Kauffman, succeeded Miles Nadal as Chairman and CEO.
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