Elliott Management was among the firms behind the deal to acquire the beleaguered measurement firm, which fell apart after Nielsen said it 'significantly undervalued' the company.
Nielsen added that it would be moving forward with a “previously approved $1 billion share repurchase authorization.”
“We continue to have strong confidence in the management team and Nielsen’s strategy to create long-term value for shareholders,” said James A. Attwood, chairperson of Nielsen’s board, in a statement. “We are always open to exploring any avenue to create value for shareholders, but the Board is in agreement with WindAcre, one of our largest shareholders, that the Consortium’s proposal significantly undervalues the Company.
Nielsen had been the gold standard of TV measurement for decades, with its TV panel ratings long serving as the “currency” for TV advertising, the metric that advertisers, media buyers and networks agree represents viewership of a given TV show.
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