In its financial guidance statement, VNU acknowledged receiving "expressions of interest from various parties regarding a possible acquisition of the company," and said its executive and supervisory boards are "evaluating every possibility."
VNU indicated that media research continues to be its strongest operation, raising its outlook for organic revenue growth to about 11 percent from its previous forecast of "at least 10 percent." Due mainly to results for Nielsen Media Research and NetRatings, organic EBITDA is expected to grow approximately 20 percent, reaching an EBITDA margin of about 28 percent.
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Organic revenue growth for VNU's trade magazine group, which includes such titles as Adweek, Billboard, and The Hollywood Reporter are now expected to come in at "roughly 2 percent," which is half of VNU's previous guidance of 4 percent growth. Organic EBITDA for the group is expected to grow 5 percent, with trade shows - not conventional advertising sales - now accounting for nearly 80 percent of the group's profits. "Trade show revenues in the U.S. are expected to be up about 10 percent, as the group launched 10 new events this year," the company said. "Trade magazines such as The Hollywood Reporter and Adweek in the U.S., and Intermediair in Europe, continue to perform well, while the group's e-media business is expected to grow at a double-digit pace, reflecting the shift to more online content and advertising."