Nielsen Holdings (NYSE: NLSN) will expand a review of strategic alternatives to include a sale of the entire TV ratings company, after coming under pressure to do so from hedge fund Elliott Management.
Nielsen, best known for providing audience figures that are used to determine advertising rates for TV commercials, has been seeking to adapt to the media industry's shift to digital advertising and video consumption on mobile devices.
Nielsen said in the statement it was working with investment banks JPMorgan Chase and Guggenheim Securities, as well as law firm Wachtell, Lipton, Rosen & Katz, on an "expanded" review of strategic alternatives.
The company had said previously it was only exploring a sale of its "buy" segment, which provides marketing data on what customers purchase, and not its "watch" segment, which offers viewership and listenership data and analytics across television, radio, online and mobile devices.
As viewer habits change, Nielsen has also made a move to cover shows watched on online streaming services, via platforms such as Netflix or via games consoles.
Nielsen is heavily indebted, the legacy of a leveraged buyout in 2006 by six private equity firms; Carlyle Group, Blackstone Group, KKR & Co, Thomas H. Lee Partners, AlpInvest Partners and Hellman & Friedman.
They took Nielsen public in 2011, and the company now has a market capitalization of $9.4 billion and total debt of $8.66 billion.
Shares hopped 97 cents, or 3.7%, higher to $27.35
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