NEW YORK: MDC Partners’ specialist communications group posted an organic revenue increase of 15.3% in Q4 2019 to $52.4 million.
The holding company’s specialist communications segment, which includes Allison+Partners, HL Group, Hunter PR, KWT Global and Veritas, saw an organic revenue increase for the year of 9% $180.6 million.
As a whole, MDC Partners’ organic revenue dipped 1.5% to $382 million in Q4. For the full year, it was down 3.1% to $1.4 billion. In Q4, MDC saw a net loss of $10.5 million, compared to $83.7 million in the same quarter a year ago. For the entire year, the company saw a net loss of $17.0 million, compared to $132.1 million in 2018.
The holding company said it is expecting 2% to 4% growth for the rest of the year.
Former Burson-Marsteller chief executive Mark Penn became CEO of MDC last March after his investment company, Stagwell Group, invested $100 million in the holding company. Separately, Stagwell, founded by Penn in 2015, owns a minority stake in Finn Partners.
Stagwell agency SKDKnickerbocker acquired MDC shop Sloane & Company this month with plans for Sloane to operate as an independent, wholly owned subsidiary of SKDK. The deal would combine Sloane’s specialty in financial and corporate communications with SKDK’s public affairs capabilities, leaders from the agencies said.