Brian Steinberg Senior TV EditorMedia-measurement mainstay Nielsen said it had agreed to be acquired by a private-equity group for $16 billion after holding out for a higher price than a previous bid.Nielsen said Tuesday that it would be purchased by a group led by Evergreen Coast Capital Corporation, an affiliate of activist fund Elliott Investment Management L.P., which has been lobbying for a Nielsen sale, and Brookfield Business Partners L.P., in a deal that calls for an all-cash deal of for $28 per share, or $16 billion, including the assumption of debt.
Nielsen had previously blocked a sale, saying it did not value the company’s growth prospects properly.The sale takes place with Nielsen under the media industry’s microscope.
TV networks and their owners have grown disenchanted with Nielsen’s ability to count viewers who may watch their favorite programs via digital means, on mobile screens on through streaming video.
Nielsen has lost industry accreditation for its national TV ratings service, and is working on a new measurement methodology that would tabulate unduplicated cross-stream viewership, but it will not be rolled out in full for several months — well after the start of the industry’s annual “upfront” ad-sales market, which has long been based on Nielsen measures.
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