Nielsen will spin off its ‘Connect’ business
Nielsen announced it will split itself into two companies under pressure from an activist investor group.
- The company, which is perhaps best known for its TV ratings, will split into two publicly traded companies.
- Nielsen will spin off its “Global Connect” business that offers manufacturers and retailers with data driven insights.
- The company has total debt of about $8.5 billion, with more than half of it coming due in 2023, according to Bloomberg.
- Shares of the company have fallen, leaving the company with a market value of about $7.15 billion.
- That lead Elliott Management Corp. to push for the split.
- Nielsen expects to finish the transaction in nine to 12 months.
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