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HAVAS BUYS ITS NAME FROM VIVENDI UNIVERSAL

$30 Million Asking Price Drops to $4 Million

By Published on .

NEW YORK (AdAge.com) -- Havas Advertising announced it will change its name to Havas, effective at its next shareholder meeting next year.

The French agency holding company agreed to buy the Havas name from Vivendi Universal for 4.5 million Euro, or $4.01 million.

Havas had been in negotiations with Vivendi since last year and had been testing a new name with clients in case the two sides could not agree on a price.

Vivendi Universal, formerly Havas' biggest shareholder, had initially demanded close to $30 million to sell the name.

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