Indaba Capital Questions Stagwell's Desired Appointment of Madison Avenue Partners' Eli Samaha to MDC's Board Given Apparent Link to Mark Penn

Jul 16, 2021

Indaba Capital Management L.P. (together with its affiliates, “Indaba” or “we”), which is the largest unaffiliated shareholder of MDC Partners Inc. (NASDAQ: MDCA) (“MDC” or the “Company”), today questioned Stagwell Media LP’s (“Stagwell”) announcement of its intention to recommend the appointment of Eli Samaha of Madison Avenue Partners, LP (“Madison”) to the newly-combined entity’s Board of Directors (the “Board”).

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