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Noncontrolling and Redeemable Noncontrolling Interests (Tables)
 6 Months Ended
Jun. 30, 2025
Noncontrolling Interest [Abstract]  
Noncontrolling Interest
The following table presents Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests between Class C shareholders and other equity interest holders for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(dollars in thousands)
Net loss attributable to Class C shareholders$— $(2,535)$(6,637)$(3,582)
Net income attributable to other equity interest holders
624 773 626 1,596 
Net income (loss) attributable to noncontrolling interests
$624 $(1,762)$(6,011)$(1,986)
Net income attributable to redeemable noncontrolling interests3 773 4,230 1,566 
Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests$627 $(989)$(1,781)$(420)
The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of June 30, 2025 and December 31, 2024:
June 30, 2025December 31, 2024
(dollars in thousands)
Noncontrolling interest of Class C shareholders (1)
$— $423,428 
Noncontrolling interest of other equity interest holders (2)
21,802 21,746 
Total noncontrolling interests$21,802 $445,174 
(1) On April 4, 2025, Stagwell Media LP (“Stagwell Media”) exercised in full its right to exchange all of its 151,648,741 shares of Class C common stock, par value $0.00001 per share (“Class C Common Stock”) for an equal number of newly issued shares of Class A Common Stock (the “Class C Exchange”). Following the Class C Exchange, the Company no longer has any Noncontrolling interest of Class C shareholders as of June 30, 2025.

(2) In January 2024, the Company entered into an agreement to purchase the remaining noncontrolling ownership interest in a subsidiary it previously controlled, the consideration for which was a portion of the subsidiary that was transferred to the noncontrolling interest owner. The non-cash purchase resulted in a reduction of the subsidiary noncontrolling interest by approximately $10.2 million.
Redeemable Noncontrolling Interest
The following table presents changes in redeemable noncontrolling interests for the six months ended June 30, 2025 and year ended December 31, 2024:
June 30, 2025December 31, 2024
(dollars in thousands)
Beginning balance$8,412 $10,792 
Redemptions (1)
— (17,039)
Additions
— 1,127 
Distributions(1,721)(2,880)
Changes in redemption value (2)
(1,360)13,363 
Net income attributable to redeemable noncontrolling interests4,230 3,005 
Currency translation adjustment(313)44 
Ending balance$9,248 $8,412 
(1) Redemptions for the year ended December 31, 2024 was associated with redeemable noncontrolling interest of a certain brand we did not previously own. The amount was reclassified as a deferred acquisition contingent obligation (see Note 6).

(2) Changes in redemption value are the fair value changes from the acquisition date redemption value based on the options held by the minority interest holders, adjusted through Retained earnings.