Nielsen ratings rejects $9B takeover bid and shares slide

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Nielsen is down 16%  after the TV ratings company rejected a $9 billion takeover bid from private equity firms. Nielsen said that the offer “significantly undervalues” the company. Nielsen said that it had consulted with, among others, its third largest shareholder, WindAcre Partnership, which opposed the sale at those terms. WindAcre said Sunday that it would acquire enough shares to scuttle the deal if the board proceeded with the sale. Media companies have been more vocal recently in their unhappiness with Nielsen, which for decades has had a virtual monopoly on measuring television viewership. Critics allege that Nielsen is not equipped to handle the dramatic shift toward streaming services and viewing on a wide array of devices.