Netherlands-based VNU, Billboard‘s parent company, announced July 6th that it will acquire rival trade mag Radio & Records for an undisclosed sum.
The transaction is expected to close within a month. Los Angeles-based R&R, like Billboard, tabulates and researches trends in radio and record sales, as well as providing print, Internet and digital services, news analysis and integrated marketing programs.
“This acquisition is in line with VNU’s strategy to further strengthen its services to the radio and record industries,” said Michael Marchesano, president/CEO of VNU Business Media and Nielsen Entertainment. “With the added resources of VNU, especially our music services including the Billboard Information Group, Nielsen BDS, and Nielsen SoundScan, R&R will continue to grow as a vibrant brand.”
R&R’s operations will be integrated into the Billboard Music Group.