Comscore reported a fourth quarter loss as the company prepared to close a deal that promises to wipe out the measurement company’s debt.
The company said it lost $13.2 million, or 18 cents a share, in the quarter, compared to a loss of $21.4 million, or 31 cents a share, a year ago.
Revenue dropped to $90 million from $95.2 million a year ago.
In January, Comscore announced that it agreed to have Charter Communications, Qurate Retail and Cerberus make a strategic investment in the company in a transaction that will wipe out Comscore’s $204 million debt when it closes.
Comscore said that when that deal closes, it expects to record a non-cash charge of between $20 million and $30 million.
The deal is expected to close a chapter of Comscore’s history in which it was bogged down by financial irregularities and fraud charges, management changes and an expensive and distracting re-audit of the company’s books that hindered its ability to create new products and compete in the fast-changing media measurement business.
"Comscore showed resilience and a strong focus on operating performance during a challenging time," said CEO Bill Livek. "We saw continued improvement in many areas of our business and look forward to completing the previously announced investment transactions next week, following a stockholder vote on March 9th."
Comscore plans to hold a conference call on March 10 to discuss its financial results.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.