Vivendi Universal Sells Havas Advertising Stake
- Share via
Bloomberg News
Vivendi Universal, Europe’s largest advertising company, said it sold its 9.9% stake in Havas Advertising to institutional investors for 453 million euros ($384 million).
The company said the sale would generate a one-time profit of 113 million euros.
Vivendi Universal sold its stake in the No. 5 advertising company to help fund its $2.2-billion acquisition of Houghton Mifflin Co.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
