The Wall Street Journal-20080114-Havas Acquires Media Broker BLM

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Havas Acquires Media Broker BLM

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French advertising group Havas SA said it bought British media broker BLM Holdings Ltd., its first significant acquisition since a new management team took control of Havas three years ago.

The deal, terms of which weren't disclosed, bulks up Havas in a key market and could signal the start of a round of other acquisitions. Closely held BLM, London, buys advertising space from media owners on behalf of advertisers.

The BLM deal will double the size of Havas's media-buying operations in Britain to about GBP 350 million ($684.8 million) in billings a year, said Havas Chief Executive Fernando Rodes.