Investor Sells $10m of Arbitron Shares

In the US, Abrams Capital Management has sold 250,000 shares in radio ratings giant Arbitron, and raised $10.01m in the process.

According to an SEC filing, Boston-based Abrams Capital sold the shares at an average price of $40.06 each, and now holds 3,311,610 in Arbitron stock - valued at around $131.84m - on behalf of its investment funds.

Last month, Arbitron's President and CEO William Kerr reported a 10% increase in Q4 2010 revenue to $111.7m (Q4 2009: $101.5m), on the back of the firm's continued commercialization of its Portable People Meter (PPM) radio ratings service. For the full year ended December 31 2010, revenue was $395.4m, an increase of 2.7% versus revenue of $385.0m for 2009.

Arbitron stock is currently trading at $40.71 per share on today's New York Stock Exchange.

Web site: www.arbitron.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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