ComScore just announced its acquisition of media and research company, Rentrak.
In a power move seen as a challenge to global media information and measurement company Nielsen, ComScore revealed that it will join forces with Rentrak for audience measurement supremacy.
As reported by Ad Week, ComScore CEO Serge Matta said that, "The merger of ComScore and Rentrak represents an exciting milestone for our combined clients, uniquely skilled employees and shareholders."
Matta further said that, "Together we have an even more powerful ability to deliver what our clients and the media industry have long been asking for: a comprehensive cross-platform measurement currency that accounts for all the ways in which content is consumed, whether that happens on a desktop, mobile device, live or time-shifted TV, video on demand or through over-the-top devices."
And according to reports, the deal between the two companies is expected to be sealed by early 2016 in the midst of Advertising Week.
In a similar report from Bloomberg, ComScore reportedly spent more than $800 million to buy the company. As for the investors of Rentrak, they are to receive 1.15 shares of ComScore for each Rentrak share they own, as said by the two companies in a statement.
It was also reported that after the announcement, ComScore gained in extended trading, rising as high as $45, that suggest that the deal could be worth as much as $51.75 per share to stockholders of Rentrak.
As for Rentrak, the company went up as much as 15 percent to $50 in extended trading after the announcement.
The merger between the two media measurement companies represents a new challenge to Nielsen Holdings, Seattle Times has noted.
Nielsen produces the TV audience ratings that determine the advertising rates in addition, it also handles research for media and consumer-product companies. With ComScore and Rentrak now joining forces, the two companies can handle a myriad of tracking services that include web activity, TV viewing, DVD sales and even movie box office performance assessments.
© 2017 Jobs & Hire All rights reserved. Do not reproduce without permission.
