MDC Partners has rescheduled a virtual special shareholders meeting to vote on the proposed merger with Stagwell Media on July 19. The company earlier said the delay was needed to evaluate a revised offer from Stagwell that purportedly offers better terms to MDC shareholders.
At its regular annual meeting held earlier this week, MDC pushed the merger as the best pathway to growth for both companies moving forward.
The company laid out a plan to reach $3 billion in annual revenue, up from $1.2 billion last year, by 2025. That plan includes achieving organic growth of $2.6 billion, new digital revenue streams totaling $75 million and M&A growth over the next five years of $325 million.
The company said growth drivers would be digital transformation and data-driven media and content practices and new SaaS products — all would help the company achieve $90 to $150 million in new business annually.
If the merger is completed — not a foregone conclusion given current opposition by some shareholders — MDC said it would become the eighth-largest marketing-services company globally.