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.
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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.
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.
