comScore stock dropped Monday after the company said its directors received a message regarding “potential accounting matters.”
The company launched an internal review, postponed its March 16 investor day and suspended a share repurchase program.
The review is not expected to be completed before March 15. As a result comScore filed for an extension to file its 10-K annual report 15 days late.
comScore shares were down 27% in morning trading Monday.
Last year the company agreed to acquire Rentrak and is expected to roll out a number of new TV audience measurement products that might put pressure on Nielsen, the ratings leader.
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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