Well, we’ve been hearing about this since yesterday evening and now we’ve received official word that CP+B’s Toronto office as we know it is no longer. In its place is a new, MDC Partners-backed, 30-strong operation dubbed Union, which will be led by former Taxi 2 ECD Lance Martin, Lowe Roche alum Dave Carey and Subtej Nijjar, who has spent the last year as president of what was CP+B Toronto.

In a statement, MDC chief Miles Nadal explains the new Toronto entity, saying, “Union offers the kind of talented, experienced and modern team that will produce great work that will drive tangible, measurable financial returns for clients. Clients are looking for innovative creative solutions and insights that deliver impactful results, and these partners represent the kind of digital thinking, modern strategic insight and creative disruption that can create, build, and catapult businesses.”

Unlike the dire report we were getting from tipsters yesterday regarding mass cuts, Marketing is reporting that as a result of the Union launch, 15 CP+B Toronto staffers though the new operation will continue sharing clients such as Best Buy and Kraft with the latter network. Regarding the news, CP+B CEO Andrew Keller adds, “”We love our Canadian partners and are very proud of the work that we’ve done together. We believe their best opportunity for growth and success will be as an independent agency.  We are great fans of Sub and look forward to the success of Union.”

As for CP+B itself, the agency’s network stands with five offices in Miami, Boulder, London, Los Angeles and Sweden.