comScore and Rentrak Announce Merger Agreement
On September 29, 2015, comScore, Inc., a global media measurement and analytics company, and Rentrak Corporation, the entertainment and marketing industries' premier provider of worldwide consumer viewership information, announced that they have entered into a definitive merger agreement under which they will combine in a stock-for-stock merger. Wilson Sonsini Goodrich & Rosati is representing comScore in the transaction.
Under the terms of the agreement, which has been approved by the boards of directors of both companies, Rentrak will merge into a wholly owned subsidiary of comScore, and each share of Rentrak will be converted into the right to receive 1.15 shares of comScore—valuing Rentrak at $732 million, compared to a September 29 market value of $697 million, according to The Wall Street Journal. comScore's current chief executive officer, Serge Matta, will lead the combined company as CEO.
By combining comScore's and Rentrak's products, talent, and information assets, the new company will provide even more robust measurement solutions to the media and advertising industries. Specifically, the combination will enable the company to introduce a more comprehensive and precise set of solutions for measuring media consumption and advertising across platforms.
The transaction is subject to shareholder approval of both companies, as well as customary regulatory closing conditions, and is expected to close by early 2016.
The Wilson Sonsini Goodrich & Rosati team representing comScore in the transaction includes:
Employee Benefits & Compensation:
For more information, click here to read the companies' joint press release.