Canada's MDC one to watch as it tries new agency model.(Viewpoint)

Advertising Age, March, 2004

Byline: Jonah Bloom

Holding company MDC Partners has attracted a lot of ink in its native Canada, but with the exception of a couple of news reports in The Wall Street Journal and Advertising Age-prompted by its partial purchases of Crispin Porter & Bogusky and Kirshenbaum Bond-it has made little noise in the U.S. and Europe.

That's understandable. According to all holding company metrics, MDC is no more than a parenthetical afterthought to a boldface paragraph. Its market cap is hovering around $300 million, a fraction of the market's $1.6 billion valuation of Havas, itself a distant fifth in market cap rankings behind Publicis and Interpublic, themselves a long way behind WPP and Omnicom. MDC's marketing revenues will be around $280 million this...

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