The announcement that VNU’s board agreed to a consortium’s offer for the company was timed to coincide with today’s earnings release. VNU turned in what it called “better than expected” results — earnings per share of 1 euro compared to the projected 0.85 – 0.90 euro range. Even so, organic revenues were at the lower end of guidance, up 4 percent to 3.4 billion euros from 3.3 billion euros the previous year; the leading contributor was VNU Media Measurement & Information, up 11 percent. The settlement of IRI antitrust and the costs associated with the IMS merger were offset by favorable tax gains and revenue growth.
– U.S. advertising revenues were up slighty after four consecutive years of decline, with “particularly good” results from Billboard, Adweek, Brandweek and Mediaweek.
– European trade mag ad marketplace is still weak but E-media had double-digit increases as more resources shift to online content and advertising.
Earnings release.
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