Arbitron Inc. Announces Stock Repurchase Program
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Arbitron Inc. (NYSE: ARB) today announced that its Board of Directors
has authorized a stock repurchase program under which the Company may
buy back up to $200 million in shares of the Company's common stock. The
Company expects that the shares may be purchased from time to time in
either open market or private transactions, in accordance with
applicable insider trading and other securities laws and regulations, at
then-prevailing market prices over a period of up to two years.
The exact timing and amount of purchases will depend on market
conditions. No assurance can be given as to when during the authorized
period any shares will be repurchased or as to whether and to what
extent any share repurchase will be consummated.
As of October 31, 2007 the Company had approximately 28,232,700 shares
outstanding
In the third quarter of 2007, Arbitron completed a previously authorized
$100 million stock repurchase program.
About Arbitron
Arbitron Inc. (NYSE: ARB) is an international media and marketing
research firm serving radio broadcasters, cable companies, advertisers,
advertising agencies, outdoor advertising companies and the online radio
ratings industry in the United States, Mexico and Europe. 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 also developed the Portable People MeterTM
system, a new technology for media and marketing research.
Arbitron’s marketing and business units are
supported by its research and technology organization, located in
Columbia, Maryland. Arbitron has approximately 2,100 employees; its
executive offices are located in New York City.
Through its Scarborough Research joint venture with VNU, Inc., Arbitron
also provides media and marketing research services to the broadcast
television, magazine, newspaper and online industries.
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 ("we,” "our,” "Arbitron”
or the "Company”)
in this document that are not historical in nature, particularly those
that utilize terminology such as "may,” "will,” "should,” "likely,” "expects,” "anticipates,” "estimates,” "believes,” or "plans,”
or comparable terminology, are forward-looking statements based on
current expectations about future events, which Arbitron has derived
from information currently available to it. 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 the Portable People Meter
service; 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 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; successfully develop and implement technology solutions to measure
multi-media and advertising in an increasingly competitive
environment; and successfully obtain and/or maintain Media Rating Council
accreditation for our audience measurement services. Additional important factors known to Arbitron that could cause
actual results to differ materially from our forward-looking statements
are identified and discussed from time to time in Arbitron’s
filings with the Securities and Exchange Commission, including, in
particular, the risk factors discussed under the caption "ITEM
1A. RISK FACTORS” in Arbitron’s
Annual Report on Form 10-K for the year ended December 31, 2006. The forward-looking statements contained in this document speak only
as of the date hereof, and Arbitron undertakes no obligation to correct
or update any forward-looking statements, whether as a result of new
information, future events or otherwise.