Comscore Signs Deal to Pay Off Debt

Comscore has agreed to an investment deal which it will use to pay off its debt through the issuance of new shares. As part of the deal, the firm will also receive consumer-level data sets and rights from new investor, broadband and cable company Charter Communications.

Charter and the other investors - Qurate Retail and an affiliate of Cerberus Capital Management - will make cash investments totalling $204m in exchange for shares of convertible preferred stock. As well as retiring existing debt, Comscore will use the proceeds to 'significantly improve' its financial flexibility and liquidity.

As part of the transaction, Charter receives a ten-year license to provide Comscore with access to deidentified data sets and rights. Comscore says the two companies will work in partnership to drive the industry towards a new standard of impressions-based measurement for the selling and buying of advertising. In addition, Comcast Cable Communications will be extending its current data agreement with Comscore.

Upon closing, Comscore will continue to operate as a standalone public company, having paid off the convertible debt held by hedge fund Starboard. CEO Bill Livek (pictured) comments: 'This is a watershed moment in our history. The retirement of debt provides the company with the financial flexibility to execute our plan. The investment and commercial agreements we announced today will supercharge our ability to deliver trusted cross-platform measurement for all customers. We are built to deliver now'.

Web site: www.comscore.com .