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Posts Tagged ‘Miles Nadal’

‘My Criterion is The Work’: Chuck Porter On MDC’s Acquisition Strategy

In part I of our Media Beat interview with MDC Partners chief strategist and Crispin Porter + Bogusky chairman Chuck Porter, the ad exec (though he doesn’t really take to that term) discusses his holding company’s acquisition strategy and what it’s like working alongside MDC CEO Miles Nadal.

According to the ad vet, creativity is key when determining the right acquisition as he says simply, “My criterion is the work.”

This and all MediabistroTV productions can also be viewed on our YouTube Channel. Be sure to check out Part II and III of our chat with Porter tomorrow and Wednesday, respectively.

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MDC Revenue Increases, But Reports Other Losses

MDC Partners reported Q1 revenue of about $236 million, an increase of 9.7 percent versus 2011. The company also reported organic growth of 5.4 percent. However, the company also reported a number of losses for the quarter.

Operating loss was at about $11.7 million versus a profit of $2.56 million year-over-year. Net loss was about $24.6 million compared with $7 million in 2011.

Adweek also notes the Q1 drop in EBITDA of 51 percent, from $15.4 million last year to $7.5 million this year. The company has purchased or taken a stake in a number of firms over the past couple of years, including Kwittken & Company, Allison+Partners, London’s Epoch PR, and ad agency Anomaly.

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KCO & MDC Cross Geographies, Marketing Disciplines With Latest Acquisition

Christopher Clarke

This week, kwittken & company announced its first acquisition outside North America, the U.K.’s Epoch PR. While the news is big, what lies ahead is equally huge. The two firms must now merge into one collaborating business.

While Epoch co-founder Christopher Clarke doesn’t see any difficulties moving forward, he does acknowledge that there will be some getting used to.

“Over the next few months, there will have to be an integration and a common language between the two agencies,” he told us during a phone call from England earlier this week. Having some common ground before the deal is made helps.

“When we first started talking to kwittken earlier this year, we felt we’d almost found our doppelganger in New York,” Clarke added. “Very quickly you get to a place where you know it will either work or it won’t work.”

This acquisition brings together two PR firms from across an ocean, and brings them together as part of a company, MDC Partners, that is composed of different marketing disciplines.

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Kwittken Makes First Acquisition Outside North America

As we mentioned in this morning’s Ticker, kwittken & company has made its first acquisition abroad, sealing the deal with London’s Epoch PR, increasing the firm’s U.K. presence from four to 15 people. Here’s a little more detail.

Kwittken opened its European HQ last year. The firm has grown revenues by 45 percent and staff by 75 percent since it became a kbs+p partner company. The financials of this deal weren’t disclosed.

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MDC Partners Reports Tech, Digital Generated 51 Percent of Q1 Revenue

MDC Partners announced its earnings for the first quarter ending March 31, 2011, reporting revenue totaling $217.5 million, a 60 percent increase from $135.9 million in Q1 2010. The company also saw a 26.5 percent jump in organic revenue.  Net new business amounted to $8.2 million for the quarter. And technology and digital-related revenue totaled 51 percent of revenue for the quarter.

“While it’s still early in the year, with our differentiated model and a smart approach to investment and cost management, we are reiterating our 2011 fiscal year guidance,” said chairman and CEO Miles Nadal in a statement.

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MDC Full-Year Revenue Increases 28 Percent

MDC Partners, home to firms including Kwittken & Company, Lime PR, Allison & Partners, and Attention, announced a 42.7 percent year-over-year increase in Q4 revenue to $213.4 million. Organic revenue increased 14.1 percent, and revenue from technology and digital services increased to 50 percent for the quarter from 45 percent in Q3. All results are for the period ending December 31, 2010.

Net new business for the quarter was $29.1 million; the total for the year was $77.6 million.

For the year, the company announced $697.8 million in revenue, a 28 percent increase from $545.1 million in 2009. Guidance for 2010 had been between $640 million and $655 million. Organic revenue was up 7.1 percent.

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The Groupon Ads, Explained

The biggest loser on Super Bowl Sunday was likely Groupon with ads, including the one above, that offended. Likened to last week’s Kenneth Cole tweet debacle and dissed online, the ads made Groupon’s first pass at Super Bowl advertising seem like it would likely be their last.

Groupon chief exec Andrew Mason took to the company blog to explain the ads. (Updates after the jump.)

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Rubensteins, Edelman, Siegel, Nadal on the Observer‘s Power 150 List

Four PR people crashed the New York Observer Power 150 List this year, a ranking dominated by extremely rich and powerful people in finance and politics, topped off with a healthy mix of media moguls and editors from all sides of the MSM wars including Anna Wintour, Henry Blodget, Tina Brown, Arianna Huffington, David Remnick, Nick Denton, Scott Dadich, (responsible for WIRED‘s app), and Dennis Crowley (Foursquare super Mayor)

The “purely subjective, data-free ranking” includes:

Howard Rubenstein (#17)–Founder of Rubenstein Communications, and godfather of New York PR

Steve Rubenstein (#78)–The “fresh-faced heir apparent” to the empire, credited as a force behind the restoration of the High Line

Peggy Siegel (#86)–Called the city’s “most notorious publicist” by the chatty, salmon-colored newspaper

Richard Edelman (#133)–Davos regular, and President and CEO of independent megafirm Edelman Public Relations.  We’re sure he’s enjoying his characterization as “one of the truly good guys in an industry not known for them.”

Also notable is the inclusion of MDC Partners Chairman Miles Nadal at #94.  Nadal joins the list for acquiring a string of interesting small and midsize marketing, social media and PR firms to bolt on to his growing advertising conglomerate.

MDC’s Miles Nadal Offers $1 Million for Agency Ideas

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I sold my idea and all I got was this crappy t-shirt…and a million bucks.

At Cannes on Friday, MDC’s Miles Nadal announced he’d give a million dollars of seed money to any entrepreneur with a good marketing communications idea in exchange for a 51% stake in the resulting company. The sole criteria: “you do brilliant work, you want to make brands famous and you want to drive results for clients,” according to Nadal.

In addition to acquiring famous ad shop Crispin, Porter & Bogusky, MDC Partners has been extremely active in picking up PR firms. The Canadian holding company followed an investment in Attention with the acquisitions of Sloane & Company and Allison & Partners in the last 12 months.

Holding Company CEO Issues “How To Partner” Rules Via T-Shirt

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MDC Partners has been snapping up PR agencies as of late. In celebration of the holding company’s 30th anniversary, CEO Miles Nadal sent out T-shirts that outline “Miles’ Six Rules of Partnership.”

Head on over to our sibling blog AgencSpy for the full list.

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