Comscore CEO Bill Livek is putting his money where his mouth is, buying 200,00 Comscore shares on the open market after closing a deal that wipes out the measurement company’s debt.
Separately, the company announced a new local TV ratings deal with Fort Myers Broadcasting Co.
Livek paid $731,962 for the Comscore stock, bringing his stake to 994,162 shares, according to a filing with the Securities and Exchange Commission.
After several years of financial and management chaos, Livek is betting that getting Charter Communications, Qurate Retail and Cerberus to make a $204 million strategic investment will put Comscore on a new course that the company is calling “Comscore Reinvented.”
Comscore reported a $13.2 million fourth-quarter loss, with revenue falling to $90 million from $95.2 million a year ago.
Fort Myers Broadcasting Co. agreed to use Comscore’s local TV measurement at its southwest Florida stations including WINK-TV, Ft. Myers.
“Southwest Florida is the fastest growing area of the Sunshine State and Ft. Myers is the state’s fastest growing city. That’s why it’s more important than ever for us to have the most comprehensive, accurate, and reliable way to measure our audience,” said Fort Myers Broadcasting GM Joe Schwartzel.
“Comscore’s groundbreaking methodology uses 24/7/365 viewing information from one of every two homes in the Ft. Myers market, and that massive footprint is especially key in a rapidly growing and changing market like ours. No other audience measurement company offers that kind of detail,” said Schwartzel. “Now Fort Myers Broadcasting will be able to provide our advertisers with the kind of detailed audience information that shows clients the true value of advertising on our stations.”
Financial terms were not disclosed.
“We have continued our investment in and support of local broadcasters and their clients, most recently with the addition of more than 10 million homes to our local television measurement footprint,” said Steve Walsh, executive VP at Comscore. “We are excited to be partnering with the Fort Myers Broadcasting Company. Their commitment to Comscore further emphasizes the industry’s acceptance and support of Comscore as primary currency.”
