VIVENDI-HAVAS:
ALL IN THE FAMILY

UMG parent company Vivendi has purchased 60% of Havas, the advertising group owned by Vivendi Chairman Vincent Bolloré and his family, for $3.06 billion, TheStreet reports.

Bolloré, Vivendi’s primary shareholder, made good on his promise of two months ago that he’d buy his family's stake in Havas, controlled by Group Bollore and run by his son, Yannick, in order to expand the Vivendi media empire, which also includes French pay-TV power Canal+. Bolloré further stated that he’d move to buy the rest of Havas before the end of the year.

Vincent Bolloré has stated that Yannick will eventually succeed him as Vivendi’s chief executive. There’s no truth to the rumor that Bolloré is also considering buying the Baller brand from Lavar Ball, although the combination has a nice ring to it.