Several private firms still interested in buying Nielsen as sale process drags on

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Nielsen is interested in selling to three private equity firms, but the price is a lot to bite off

Nielsen, the media research firm famous for its TV ratings, is still contemplating an outright sale, fueled by continued private equity interest, according to people familiar with the matter.

A sale isn't imminent, and while Nielsen is a willing seller, a deal for the company has always been challenging because of the company's size. Nielsen has a market capitalization of $9.3 billion and has an additional $8.4 billion in total debt. An acquisition of the entire company would be one of the largest private takeovers in years and well above the typical size of an acquisition for Advent, in particular. Final bids aren't due for several weeks, two of the people said.

Activist hedge fund Elliott Management, which has an 8.4 percent in the company, has pushed Nielsen to find a buyer. Nielsen said in September that 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, including a sale of the company.

"The Nielsen Board of Directors continues to move ahead with its strategic review, which includes a broad range of options, including continuing to operate as a public, independent company; a separation of either Nielsen's Media or Connect segment; or a sale of the company," Nielsen said in a statement."There can be no assurance that this review will result in a specific transaction or other alternative.

 

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