Major commercial radio players expressed their concerns to Arbitron about the performance of Portable People Meters in no uncertain terms. At the same time, the company declared a dividend to stockholders and authorized a stock repurchase plan.
Clear Channel, Cumulus, Cox Radio and Radio One wrote a letter to Arbitron this week saying PPMs have not "... provided accurate or reliable data for all demographic groups."
Also this week, Arbitron issues a 10 cent dividend on common stock. The ratings research company also approved a $200 million stock repurchase plan. Arbitron stock opened at 50.64 today.
However, Arbitron also laid off about 30 employees.
Read Arbitron's recent SEC filing.
Friday, November 16, 2007
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