Arbitron Inc. (NYSE: ARB) announced today that Stephen B. Morris,
chairman, president and chief executive officer, has established a new
stock trading plan in accordance with guidelines specified under Rule
10b5-1 of the Securities Exchange Act of 1934.
Mr. Morris is establishing this plan to diversify his investment
portfolio in an orderly, prearranged manner and to facilitate payment of
taxes. This new plan, which goes into effect on March 4, 2008, will
replace an existing stock trading plan, which expired by its terms on
November 1, 2007.
Under the terms of the new plan, Mr. Morris will systematically exercise
employee stock options and sell up to 90,382 shares of Arbitron stock
over a period of 12 months, which a broker is authorized to execute at
monthly intervals beginning in April 2008. These employee stock options
are from grants that will expire on October 20, 2009 and August 19, 2014.
Mr. Morris is in full compliance with the company's stock ownership
guidelines and his current level of ownership of common stock will not
be affected by this plan. This plan is scheduled to terminate on the
earliest to occur of March 31, 2009, or the sale of 90,382 shares.
Rule 10b5-1 permits officers and directors of public companies to adopt
predetermined plans for selling specified amounts of stock. The plans
may be entered into only when the director or officer is not in
possession of material, non-public information, and may be used to
gradually diversify investment portfolios over a period of time. The
plans establish pre-determined trading parameters that do not permit the
person adopting the plan to exercise any subsequent influence over how,
when or whether to effect trades.
Transactions under this plan, and all trades for directors and executive
officers of Arbitron Inc., will be disclosed publicly through Form 144
and Form 4 filings as required by the Securities and Exchange Commission.
About Arbitron
Arbitron Inc. (NYSE: ARB) is an media and marketing research firm
serving the media – radio, television, cable,
online radio and out-of-home – as well as
advertisers and advertising agencies in the United States. Arbitron’s
core businesses are measuring network and local market radio audiences
across the United States; surveying the retail, media and product
patterns of local market consumers; and providing application software
used for analyzing media audience and marketing information data. The
company has developed the Portable People MeterTM,
a new technology for media and marketing research.
Through its Scarborough Research joint venture with The Nielsen Company,
Arbitron provides additional media and marketing research services to
the broadcast television, newspaper and online industries.
Arbitron’s marketing and business units are
supported by its research and technology organization located in
Columbia, Maryland. Arbitron’s executive
offices are located in New York City.
Portable People MeterTM and PPMTM
are marks of Arbitron Inc. This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The
statements regarding Arbitron Inc. and its subsidiaries in this document
that are not historical in nature, particularly those that utilize
terminology such as "may,” "will,” "should,” "likely,” "expects,” "anticipates,” "estimates,” "believes,” "plans,”
or comparable terminology, are forward-looking statements based on
current expectations about future events, which we have derived from
information currently available to us. These forward-looking
statements involve known and unknown risks and uncertainties that may
cause our results to be materially different from results implied in
such forward-looking statements. These risks and uncertainties include,
in no particular order, whether we will be able to: successfully implement the rollout of our Portable People MeterTM
service; successfully design, recruit and maintain PPM panels that
appropriately balance research quality, panel size and operational
cost; complete the Media Rating Council audit of our local market PPM
ratings services in a timely manner and successfully obtain and/or
maintain MRC accreditation for our audience measurement services; renew contracts with large customers as they expire; successfully execute our business strategies, including entering
into potential acquisition, joint-venture or other material
third-party agreements; effectively manage the impact, if any, of any further ownership
shifts in the radio and advertising agency industries; respond to rapidly changing technological needs of our customer
base, including creating new proprietary software systems and new
customer products and services that meet these needs in a timely
manner; successfully manage the impact on our business of any economic
downturn, generally, and in the advertising market, in particular; successfully manage the impact on costs of data collection due to
lower respondent cooperation in surveys, privacy concerns, consumer
trends, technology changes and/or government regulations; and successfully develop and implement technology solutions to measure
multimedia and advertising in an increasingly competitive environment. There are a number of important factors that could cause actual
events or our actual results to differ materially from those indicated
by such forward-looking statements, including, without limitation, the
factors discussed or referenced under the heading "Item
1A. — Risk Factors”
in our Annual Report on Form 10-K for the year ended December 31, 2007
and elsewhere, and any subsequent periodic or current reports filed by
us with the SEC. In addition, any forward-looking statements represent our estimates
only as of the day we first filed this annual report with the Securities
and Exchange Commission and should not be relied upon as representing
our estimates as of any subsequent date. While we may elect to update
forward-looking statements at some point in the future, we specifically
disclaim any obligation to do so, even if our estimates change.
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