…Company Revises Financial Guidance For 2007
Arbitron Inc. (NYSE: ARB) announced today that it will delay the commercialization of its Portable People Meter (PPM) radio ratings service in nine markets. New York, Nassau”Suffolk and Middlesex”Somerset”Union will be delayed by nine months; Los Angeles, Riverside and Chicago by six months; and San Francisco, San Jose and Dallas by three months.
In these nine markets, the Company will extend the use of the paper and pencil diary system that has been serving the industry since 1965. During the delay, Arbitron will continue to work with customers, the Media Rating CouncilÃ‚ ®, other industry organizations and community groups on the research and business issues related to the Portable People Meter radio ratings service in local markets.
Å“We remain confident in the audience estimates that the Portable People Meter service is producing. However, over the past three weeks, feedback from our customers, the Media Rating Council and other constituencies has led us to conclude that the radio industry would be better served if we were to delay further commercialization of the PPM in order to address their issues, said Steve Morris, chairman, president and chief executive officer, Arbitron Inc.