Elliott Management in Talks to Buy Neilsen Holdings

A consortium of private equity firms, including Elliott Management Corporation, is in talks to acquire TV rating agency Nielsen Holdings NLSN 30.50% PLC for about $ 15 billion, including debt.

The market value of Neilson Holdings is $6.2 billion and an enterprise value of $11 billion, given its debt load of more than $5 billion. The shares of the company also rose more than 30% to $22.85 per share. 

Nielsen has been synonymous with measuring the ratings of US television viewers for years, to reassure advertisers that the network has sold airtime and got what they paid for, but as streaming gained momentum and traditional broadcast and cable television lost viewers, that grip was relaxed. Based in New York, the company has published streaming indicators in recent years and is one of many players in this area.

Elliot already owned a stake in Neilson since 2018, when the company called to explore a sale. A year after that, Nielsen said it would spin off its business into two separate public companies, Global Connect and Core Media Business.

In April 2020, Elliott signed a settlement agreement with Nielsen. Under this agreement, the company agreed to add a director and establish a finance committee on the board to oversee strategic plans, including separation. At that time, Elliott had an economic benefit of about 13% in Nielsen.