NEW YORK: MDC Partners is looking to find "the next Crispin Porter & Bogusky of PR," according to chairman and CEO Miles Nadal. In speaking about its investment in social media firm Attention Partners, which was announced September 16, Nadal noted the growing importance of social media and PR.
“We think PR is where advertising was five to 10 years ago,” said Nadal. “You will see us do more in PR overall. MDC is looking for the next Crispin Porter & Bogusky of PR.”
Nadal told PRWeek that his organization's goal is to add 500 social media experts to the portfolio in the next three to six months, adding that PR is where innovations like blogging and social media lie.
Attention is the latest to join MDC's long list of partners including Lime PR and Promotion, Crispin Porter & Bogusky, and Veritas. Attention has worked with members of the MDC portfolio including mono and HL Group, said Curtis Hougland, CEO of Attention.
“We'd been approached by a number of different agencies and holding companies but it wasn't anything that we considered strongly until talks with MDC,” said Hougland. “What was really attractive is how they respect entrepreneurs, how they allow us to maintain our culture, and understand our DNA.”
Hougland went on to say that the firm will “remain completely autonomous” and management will continue to run the company. MDC partner firms are able to tap the portfolio's pool of resources. Financial terms of the deal were not disclosed.