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Investing.com -- Stagwell Inc (NASDAQ:STGW) stock fell 1.7% on Thursday after the marketing and communications network announced it has acquired a 35% stake in Real Clear Holdings LLC, publisher of RealClearPolitics and 12 other news and analysis sites.
The acquisition was announced by CEO and Chairman Mark Penn during Stagwell’s NewsFronts event, which focused on exploring brand investment opportunities in news media. The company did not disclose financial terms of the investment.
This move expands Stagwell’s portfolio of owned media platforms, which also includes ReachTV. The company stated that the investment aligns with its "Future of News" initiative and its belief that news media represents an undervalued business opportunity for brands.
"This investment reinforces our conviction that quality news has the power to drive meaningful business results. Championing quality news and opinion media isn’t just good for us; it’s good for every business," said Penn.
The acquisition will give Stagwell’s clients access to RealClear’s audience, op-ed aggregation, and polling capabilities, including the widely cited RCP Poll Averages. John McIntyre, co-founder and CEO of Real Clear Holdings LLC, expressed enthusiasm about expanding the partnership with Stagwell.
This investment builds on Stagwell’s existing work in the news media sector, where its agency Code and Theory has collaborated with approximately 200 newsrooms including Bustle Digital Group, The Minnesota Star Tribune, Time, Thomson Reuters, and Vogue.
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