Stagwell Media LP announced that it intends to recommend the appointment of Eli Samaha, Founder and Managing Partner of Madison Avenue Partners, LP, to the Board of MDC Partners, Inc.  upon the closing of the combination of MDC with Stagwell . Madison is one of the largest shareholders of MDC and has expressed its support for the Transaction.

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“He is an accomplished investor and one of MDC’s largest shareholders. I am confident he will be a differentiated voice in the board room and will add substantial value to the combined company. We are pleased to have earned his support for the transaction.”

“Eli has impressed me with his insights into our business, understanding of the digital marketing and advertising sectors as well as his knowledge of corporate finance and capital allocation,” said Mark Penn, Chairman and CEO of MDC Partners and Managing Partner of the Stagwell Group. “He is an accomplished investor and one of MDC’s largest shareholders. I am confident he will be a differentiated voice in the board room and will add substantial value to the combined company. We are pleased to have earned his support for the transaction.”

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Mr. Samaha commented, “As a long-term investor in MDC, I appreciate the efforts of other shareholders to strongly advocate for and to secure a superior outcome. I believe this transaction, as currently structured, represents the best path forward. The power and capabilities of the combined company substantially exceed either on its own. I look forward to working with Mark and the team as we set our sights on the goal of building the preeminent global marketing and advertising company.”

Eli Samaha is the Founder and Managing Partner of Madison Avenue Partners, LP, a value-focused investment manager whose partners include leading university endowments, hospital systems, and philanthropic foundations. Prior to founding Madison, Mr. Samaha was a Partner at Newtyn Management and held roles at KPS Capital Partners and GSC Group. He received a bachelor’s degree in Mathematics from Dartmouth College.