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Havas will purchase SFM Media

Published on .

Havas Advertising, Paris, agreed to purchase SFM Media, New York, the largest remaining media independent in the U.S., with billings of $1 billion according to Advertising Age estimates. The deal was expected (AA, Dec. 1). Neither SFM nor Havas would comment. An announcement is expected soon. Terms of the acquisition were not known.

The majority of SFM's billings come from clients of Havas agency subsidiaries, such as MCI Communications and Intel Corp. Of the three founding principals of SFM, only Robert Frank, president-media services division, is expected to stay under the new ownership. Chairman Walter Staab is expected to pursue other interests. Stanley Moger, president of SFM's entertainment division, is expected to spin off that division as a separate company.

Copyright February 1998, Crain Communications Inc.

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