Nielsen Promises $20 Million In Savings, A New Name And A Sept. 30th Closing On Arbitron Merger
September 24, 2013 at 6:12 AM (PT)
NIELSEN presented an "ARBITRON Acquision Update" YESTERDAY (9/23) hosted by CEO DAVID CALHOUN and CFO BRIAN WEST, in which the company presented its plans for ARBITRON once the merger is approved. WEST offered no specifics, but said the ARBITRON name would be retired for a NIELSEN-branded handle. WEST confirmed earlier plans that "there will be re-structuring associated" with the deal.
NIELSEN has consistently pointed towards cuts, promising an "expected annualized savings of at least $20 million."
In one slide of the POWERPOINT presentation, NIELSEN explained regulatory approval was completed and integration plans underway. The next steps:
* Regulatory approval attained from the FEDERAL TRADE COMMISSION (FTC)
* Consent decree issued to protect the resources related to a year-old cross-platform measurement project involving ARBITRON, COMSCORE and ESPN
* NIELSEN will make available for license ARBITRON PPM and related data, as well as software and technology solely for the purpose of providing cross-platform services currently being used in the ESPN project for up to eight years
* Cross-platform, for the purposes of this agreement, is defined as television and online at a minimum
* No change in strategic rationale or financial benefits of the acquisition or the competitive landscape
* No current NIELSEN assets are subject to the agreement
* Closing expected for NIELSEN/ARBITRON acquisition on SEPTEMBER 30th, 2013