<SEC-DOCUMENT>0001144204-17-053116.txt : 20171211
<SEC-HEADER>0001144204-17-053116.hdr.sgml : 20171211
<ACCEPTANCE-DATETIME>20171019071309
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-17-053116
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20171019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MDC PARTNERS INC
		CENTRAL INDEX KEY:			0000876883
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING AGENCIES [7311]
		IRS NUMBER:				980364441
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151
		BUSINESS PHONE:		646 429 1800

	MAIL ADDRESS:	
		STREET 1:		745 FIFTH AVENUE, 19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10151

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORP INC
		DATE OF NAME CHANGE:	20001204

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC COMMUNICATIONS CORP
		DATE OF NAME CHANGE:	19961028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MDC CORPORATION
		DATE OF NAME CHANGE:	19950419
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 67.15pt 0pt 45.35pt; text-align: right; color: #2A2A2A">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 67.15pt 0pt 0; color: #2A2A2A">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.25in; color: #2A2A2A">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: #2A2A2A; margin-top: 0; margin-bottom: 0; margin-left: 5.5in; text-indent: 0in; text-align: justify">October
18, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0in; color: #2A2A2A"><B><I><U>Via Edgar</U></I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0in; color: #2A2A2A">Mr. Larry Spirgel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0in; color: #2A2A2A">Mr. Robert Littlepage</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 229pt 0pt 0in; text-indent: -0.5pt; color: #2A2A2A">Division
of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 229pt 0pt 0in; text-indent: -0.5pt; color: #2A2A2A">Securities
and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 229pt 0pt 0in; text-indent: -0.5pt; color: #2A2A2A">100 F Street
N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0in; color: #2A2A2A">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #2A2A2A; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>RE:</B></TD><TD STYLE="text-align: justify"><B>MDC Partners Inc.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 4pt 0pt 1.25in; text-indent: 0.2pt; color: #2A2A2A"><B>Form 10-K for
Fiscal Year Ended December 31, 2016 as amended</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 71pt 0pt 1.25in; text-indent: 0.2pt; color: #2A2A2A"><B>SEC Correspondence
Dated October 4, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 71pt 0pt 1.25in; text-indent: 0.2pt; color: #2A2A2A"><B>File No. 001-13718</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: #2A2A2A; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">Dear
Mr. Spirgel and Mr. Littlepage:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; color: #2A2A2A; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0.25in; text-align: justify">Set
forth below is the response of MDC Partners Inc. (the &ldquo;Company&rdquo; or &ldquo;MDC&rdquo;) to the correspondence of the
Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the &ldquo;Staff&rdquo;, the &ldquo;Commission&rdquo;,
or &ldquo;SEC&rdquo;), which was set forth in your letter dated October 4, 2017, together with comments raised by the Staff during
our telephone meeting of October 16, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.5in; text-indent: -0.25in; color: #2A2A2A"><B><U>Form
10-K for Fiscal Year Ended December 31, 2016 as amended</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.5in; text-indent: -0.25in; color: #2A2A2A"><B><U>Item
9A. Controls and Procedures, page 104</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify; padding-right: 5.7pt"><B>We note in your response that you determined there was a control deficiency
in your internal control over financial reporting; however, the deficiency did not rise to the level of a material weakness. A
control deficiency constitutes a material weakness if there is a reasonable possibility that a material misstatement of the financial
statements would not be prevented or detected in a timely manner. Based on your determination that the disclosure misstatements
in your prior SEC filings were material and a result of a control deficiency, we are unable to agree with your conclusion that
the related deficiency is not a material weakness. Please explain how you will address and disclose the ineffectiveness of internal
control over financial reporting and disclosure controls and procedures for the periods the material weakness existed.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.55pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.55pt 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">As set forth
in the Company&rsquo;s correspondence dated August 10, 2017 and August 31, 2017, the Company concluded that its prior change to
one reportable segment was a good faith judgment determination based upon extensive analysis. After further discussion with the
SEC, the Company acknowledged that its prior &ldquo;judgment&rdquo; reflected a material error and that a different aggregation
of reportable segments should have been presented. Accordingly, the Company revised its disclosures to reflect the new reportable
segments in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2017. Moreover, the Company amended its Annual Report
on Form 10-K for the year ended December 31, 2016 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2017
to restate applicable disclosures related to the recasting of the four (4) new reportable segments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">In connection
with the foregoing determination, and as fully disclosed in its these recent filings, management assessed the effectiveness of
its internal controls over financial reporting and implemented remediation steps to improve its processes and controls relating
to the identification of appropriate reportable segments. Management previously determined that the deficiency relating to its
internal controls over financial reporting did not rise to the level of a material weakness. However, the Company understands the
Commission&rsquo;s position that a control deficiency constitutes a material weakness if there is a reasonable possibility that
a material misstatement of the financial statements would not be prevented or detected in a timely manner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">In response,
the Company proposes to disclose the identified ineffectiveness of its internal controls and disclosure controls in the following
manner in its pending Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2017, including the remediation
steps implemented by management:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-align: justify">&ldquo;<B>Evaluation of
New Reportable Segments; Changes in Internal Control Over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">As disclosed in the Company&rsquo;s
prior filings on Form 10-K/A for the year ended December 31, 2016, Form 10-Q/A for the quarterly period ended March 31, 2017 and
Form 10-Q for the quarterly period ended June 30, 2017, we have recast our single reportable segment and identified four (4) new
reportable segments for our Partner Firms. The recasting of prior period segment information does not affect our consolidated financial
condition or results of operations for the three months ended March 31, 2017 and 2016, our balance sheets as of March 31, 2017
and December 31, 2016, our cash flows for the three months ended March 31, 2017 and 2016, or goodwill for any period presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">During the third quarter
of fiscal 2017, our management, including our CEO and CFO, concluded that the previously disclosed deficiency in internal controls
that led to the determination to recast the Company&rsquo;s reportable segments reflected a material weakness in our internal controls
over segment reporting aggregation and disclosure. A material weakness is a deficiency, or combination of deficiencies, in internal
control over financial reporting such that there is a reasonable possibility that a material misstatement of our annual or interim
financial statements will not be prevented or detected on a timely basis. The material weakness in internal controls over financial
reporting arose from an undetected error in management&rsquo;s judgment and management&rsquo;s misapplication of ASC 280, specifically
the weighting used in the analysis regarding aggregation of operating segments with respect to future and past economic performance.
Although our internal &ldquo;Segment Reporting Policy&rdquo; included an analysis for segment aggregation criteria, management
subsequently identified a design gap in that the analysis failed to contain sufficient detail on the weighting to future and past
economic performance, as required by ASC 280 and related guidance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">In response to the
identified material weakness, the Company implemented remediation steps to ensure that its prospective determination of
reportable segments is appropriate. The Company promptly updated its aggregation analysis and revised its disclosure of its
four (4) reportable segments. Additionally, management enhanced and expanded its internal &ldquo;Segment Reporting
Policy&rdquo; to include further detail on how the application of aggregation criteria related to economic characteristics
should be applied. This additional detail includes reference to quantitative and qualitative factors, types of metrics being
considered and the acceptable level of differences in those metrics between the segments being evaluated for aggregation.
Under the Company&rsquo;s revised approach, this analysis will be performed and documented annually. The Company&rsquo;s
management will continue to evaluate the impact of events (e.g., a change in operating segments, reorganization, change in
management approach, etc.) that may arise and affect the Company&rsquo;s reportable segment structure and document that
assessment and related conclusions as necessary. The Company has further enhanced its review controls to ensure proper
weighting to future and past economic performance, as required by ASC 280. Testing of both the design and
operating effectiveness of the Company&rsquo;s enhanced controls was completed, and management concluded that the material
weaknesses described above had been fully remediated as of September 30, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 0.25in">Other than the foregoing
actions relating to the recast of the Company&rsquo;s reportable segments, management believes there have been no changes in our
internal control over financial reporting during the fiscal quarter ended September 30, 2017 that materially affected, or were&nbsp;reasonably
likely to materially affect, our internal control over financial reporting.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 0; text-align: justify; text-indent: 28.05pt">Please
direct any questions concerning the above responses to the undersigned (telephone: (646) 429-1818; fax: (212) 937-4365).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.7pt 0pt 45.35pt; text-indent: 28.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Scott L. Kauffman</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scott L. Kauffman</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman and Chief Executive Officer</FONT></TD>
    <TD STYLE="padding-bottom: 8pt">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">cc:</TD><TD>Lindsay McCord, Associate Chief Accountant</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Kathryn Jacobson, Senior Staff Accountant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Carlos Pacho, Senior Assistant Chief Accountant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">David Doft, Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mitchell Gendel, General Counsel &amp; Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Christine LaPlaca, SVP Accounting and Financial
Reporting</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Members of the Audit Committee of Board
of Directors of MDC Partners Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Ris&euml; Norman and Karen Kelley,
Simpson Thacher &amp; Bartlett LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Robert Trinchetto, BDO USA, LLP</P>



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