VNU Purchases R&R
July 6, 2006 at 6:41 AM (PT)
As expected, BILLBOARD parent company VNU N.V. has reached an agreement to acquire RADIO & RECORDS, INC. (R&R) for an undisclosed price. VNU said it expects the transaction to close by AUGUST 1, 2006. R&R's operations will be integrated into the BILLBOARD MUSICGROUP.
"This acquisition is in line with VNU's strategy to further strengthen its services to the radio and record industries," commented VNU BUSINESS MEDIA and NIELSEN ENTERTAINMENT Pres. and CEO MICHAEL MARCHESANO. "With the added resources of VNU, especially our music services, including the BILLBOARD INFORMATION GROUP, NIELSENBDS, and NIELSEN SOUNDSCAN, R&R will continue to grow as a vibrant brand."
With the added resources of VNU ... R&R will continue to grow as a vibrant brand
MARCHESANO added, "I am especially delighted that ERICA FARBER, R&R's publisher, will continue her leadership role with R&R and continue to focus ongrowing the business. Her long-term affiliation with the brand will help R&R continue to deepen its pivotal role in the industry."
R&R, founded by BOB WILSON in 1973, was purchased by PERRY CAPITAL from WESTWOOD ONE in 1994.