NEW YORK, March 20, 2012 /PRNewswire/ -- MDC Partners Inc. announced today that it has acquired a majority partnership interest in TargetCast, a leading independent full-service media agency with over $600 million in billings, based in New York. Steve Farella, TargetCast CEO, will also serve as head of MDC Partners' newly created Maxxcom Global Media group.
"Over the last two years, we have deliberately built up a deep stable of progressive media strategy and activation offerings in order to bring our clients a truly modern media advantage," said Miles Nadal, Chairman and CEO of MDC Partners. "Today, we are in a position to harness that expertise across offerings and provide additional firepower to our portfolio to play a leading role in the media space. We are dedicated to building a new kind of media network, built on entrepreneurship, innovation and creative solutions for clients. We're thrilled to partner with the TargetCast management team and to have Steve, an entrepreneurial and visionary leader, help optimize the impact of Maxxcom Global Media."
The Maxxcom Global Media group will have combined billings of over $1.5 billion and will include TargetCast, Integrated Media Solutions, The Media Kitchen, RJ Palmer, and Varick Media Management.
"In establishing and growing TargetCast, we have been committed to building a media agency that serves as a powerful, creative and nimble media partner for our clients," said Farella. "MDC Partners is an ideal strategic fit for our business, our people, our approach and our vision, and my colleagues and I are looking forward to working alongside our new partners in the network. We see tremendous opportunity in the collection of independent media offerings within MDC Partners to create a new kind of communications solution for clients."
Founded in 2002 by Farella and his partner, agency President Audrey Siegel, TargetCast is now a 100-person firm that provides a complete portfolio of services for clients seeking excellence in communications strategy, planning, implementation and management. From its start, TargetCast has attracted a roster of blue chip clients drawn to the entrepreneurial spirit and innovative media strategies, planning practices and thinking that continue to drive the agency today. The agency provides leading media solutions that drive tangible, measurable return on marketing investment for clients including Pfizer Consumer Healthcare, hotels.com, Expedia, New York Life, AMCTV and 1-800-FLOWERS.COM, among others in nearly every industry sector.
Prior to founding TargetCast, Farella served as the founding CEO of Havas' Media Planning Group. Earlier in his career, he was the chief media officer at Jordan McGrath Case & Partners, Young & Rubicam, Wells Rich Greene/BDDP and Ammirati & Puris.
PALAZZO served as financial advisor to TargetCast in this transaction.
About TargetCast TargetCast tcm is a 100-person leading full-service, independent media agency providing total communications management to strong independent brands, including Pfizer Consumer Healthcare, hotels.com, Expedia, New York Life, AMCTV and 1-800-FLOWERS.COM. Founded by industry executives Steve Farella and Audrey Siegel, TargetCast tcm is based in New York and ranked among the fastest growing private companies in the U.S. by Inc. Magazine, with over $600 million in billings. For more information, visit www.targetcast.com.
About MDC Partners Inc. MDC is a Business Transformation Organization that utilizes technology, marketing communications, data analytics, insights and strategic consulting solutions to drive meaningful returns on Marketing and Communications Investments for multinational clients in the United States, Canada, Europe, and the Caribbean.
MDC's durable competitive advantage is to Empower the Most Talented Entrepreneurial Thought Leaders to Drive Business Success to new levels of Achievement, for both our Clients and our Shareholders, reinforcing MDC's reputation as "The Place Where Great Talent Lives."
MDC Partners' Class A shares are publicly traded on NASDAQ under the symbol "MDCA" and on the Toronto Stock Exchange under the symbol "MDZ.A".