Comscore, which has been in a strategic review since last year, said Monday it is in advanced discussions on a transaction with an anchor investor.
The company reported a net loss and lower revenue in the third quarter.
The investor was not named and Comscore said the transaction would reduce Comscore’s debt and support growth initiatives.
Comscore has been in turmoil since irregularities were found in the company’s books four years ago. Since then the company has gone through a painstaking re-audit, several CEOs and reported operating losses.
The third quarter net loss was $11.1 million, or 16 cents a share, compared to a $10.6 million loss, or 16 cents a share, a year ago.
Revenue fell 7% to $88 million.
"I am pleased with the progress Comscore made during the third quarter, despite market conditions that remained challenging. Our TV product grew revenue high single digit percentage year-over-year in the quarter, Addressable continued to expand, and we continued to generate higher levels of adjusted EBITDA compared to the prior year," said CEO Bill Livek.
"As we look to 2021, Comscore is poised to win the future of media measurement with a host of new products centered around a new impressions-based currency with enhanced advertising capabilities. These and other solutions position Comscore to drive long-term value for our media industry partners and shareholders," Livek said.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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