Nielsen is spinning off its Global Connect business and creating two independent, publicly traded companies—the Global Media business and the Global Connect business. Nielsen’s Board Chairman James Atwood had been reviewing its business model for over a year. The Global Media business will be the company that includes radio measurement.
Once the spin is complete, current Nielsen CEO David Kenny will become Chief Executive Officer of Nielsen’s Global Media business. Nielsen is now searching for a CEO for its Global Connect business who said yesterday that the company has evolved since the review began and is building a track record of execution. “As two independent companies, we can better drive decision making with velocity and push key initiatives to accelerate performance enhancements of each business.”
Here’s what Atwood had to say about the split. “Nielsen has two strong and global franchises—Global Media and Global Connect. Following an extensive review process, which included an in-depth analysis of our businesses, strategies and market opportunities, the Board concluded that separating into two independent, publicly traded companies is the best path to position each business for long term success and maximize value creation. As independent companies, both Nielsen—the Global Media business—and the new company consisting of Global Connect will enjoy added flexibility and further strengthen their paths toward a new phase of growth, productivity and industry leadership.”