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Noncontrolling and Redeemable Noncontrolling Interests (Tables)
 9 Months Ended
Sep. 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 nine months ended September 30, 2025 and 2024:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(dollars in thousands)
Net income (loss) attributable to Class C shareholders$— $9,432 $(6,637)$5,850 
Net income (loss) attributable to other equity interest holders
(248)1,208 378 2,804 
Net income (loss) attributable to noncontrolling interests
$(248)$10,640 $(6,259)$8,654 
Net income (loss) attributable to redeemable noncontrolling interests(608)(47)3,622 1,519 
Net income (loss) attributable to noncontrolling and redeemable noncontrolling interests$(856)$10,593 $(2,637)$10,173 
The following table presents noncontrolling interests between Class C shareholders and other equity interest holders as of September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
(dollars in thousands)
Noncontrolling interest of Class C shareholders (1)
$— $423,428 
Noncontrolling interest of other equity interest holders (2)
21,434 21,746 
Total noncontrolling interests$21,434 $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 September 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 nine months ended September 30, 2025 and year ended December 31, 2024:
September 30, 2025December 31, 2024
(dollars in thousands)
Beginning balance$8,412 $10,792 
Redemptions (1)
— (17,039)
Additions
— 1,127 
Distributions(1,849)(2,880)
Changes in redemption value (2)
(1,360)13,363 
Net income attributable to redeemable noncontrolling interests3,622 3,005 
Currency translation adjustment(236)44 
Ending balance$8,589 $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.