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BOSTON — Havas today blamed “the virtual halt in MCI WorldCom advertising expenditure” for a 6% decline in third-quarter revenue to approximately $445 million based on the current rate of exchange, according to a statement issued by the company.
The Paris-based agency holding company also noted that, “This sharp fall should not reoccur in the fourth quarter since MCI WorldCom subsequently resumed advertising … in early October, under new conditions as established by the Chapter 11 (bankruptcy) procedure.”
Havas
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