S&P 600 SmallCap
16.08.2007 21:45:00
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Arbitron and Citadel Broadcasting Corporation Sign Seven-Year Agreement for Portable People Meter Radio Rating Services
Arbitron Inc. (NYSE: ARB) today announced that Citadel Broadcasting
Corporation (NYSE: CDL), the third largest radio group in the United
States, has signed a seven-year contract for Portable People Meter radio
ratings services when the new audience ratings technology is
commercialized in 14 of the markets encompassed in Arbitron’s
previously announced PPM rollout plan: New York, Los Angeles, Chicago,
San Francisco, Dallas, Washington, Detroit, Atlanta, Minneapolis, Salt
Lake City, Providence, Nashville, New Orleans and Memphis.
The agreement covers 41 stations, including the 22 ABC Radio stations
Citadel recently acquired.
"We believe that the PPM will significantly
enhance radio’s accountability and reach,
ultimately resulting in increased commitments to radio by advertisers,”
said Farid Suleman, Citadel’s Chief Executive
Officer.
Over the next three years, Arbitron is scheduled to deploy the Portable
People Meter in the top 50 markets in place of the paper diary method
that the company has used to collect radio audience estimates since 1965.
About Citadel Broadcasting Corporation
Citadel Broadcasting Corporation is the third largest radio group in the
United States, with a national footprint reaching more than 50 markets.
Citadel is comprised of 170 FM stations and 62 AM stations in the
nation's leading markets, in addition to the ABC Radio Network business,
which is one of the three largest radio networks in the United States.
For more information visit www.citadelbroadcasting.com.
Citadel Broadcasting Corporation Forward-Looking Statements
Certain statements in this document are "forward-looking
statements” within the meaning of the Private
Securities Litigation Reform Act. These statements are based on
management’s current expectations and are
subject to uncertainty and changes in circumstances. Actual results may
differ materially from those included in these statements due to a
variety of factors. More information about these factors is contained in
Citadel’s filings with the Securities and
Exchange Commission.
About Arbitron
Arbitron Inc. (NYSE: ARB) is an international media and marketing
research firm serving radio broadcasters, cable companies, advertisers,
advertising agencies and outdoor advertising companies in the United
States 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 developed the
Portable People Meter (PPM TM), 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 1,900 employees; its
executive offices are located in New York City.
Through its Scarborough Research joint venture with The Nielsen Company,
Inc. (formerly VNU), Arbitron also provides media and marketing research
services to the broadcast television, newspaper and online industries.
Portable People Meter™
and PPM™ are
service marks of Arbitron Inc. Arbitron Forward-Looking Statements 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
system 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 consolidation in the
radio and advertising agency industries; keep up with 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.
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