ACNielsen previously held a 22.5% stake in the business and will purchase the remaining 77.5%, held primarily by MSK executives. The sale is subject to regulatory approval.
"This important acquisition comes at a time when the Korean market is beginning to emerge from a deep economic downturn," says Michael Connors, vice chairman of ACNielsen. "By solidifying our media research presence in Korea, we are underscoring our commitment to build ACNielsen's integrated research and media measurement business over the long term and to provide a full range of market research services to support our clients' growth in Korea."
Through ACNielsen Media International, ACNielsen offers media measurement services in 14 markets in Asia Pacific and more than 40 worldwide. The full acquisition of the MSK business will strengthen ACNielsen Media International's broadcast and print capabilities, including TV and radio audience measurement, advertising expenditure measurement, readership and other media research services.
"We will leverage our vast market research experience to provide our clients in Korea with the comprehensive media coverage they need to continue growing," says Steven Yung, president, ACNielsen Media International.
MSK is the currency for TV ratings in Korea, collecting data on audience viewership and demographics through a 300-household panel in Seoul.
"We look forward to introducing additional ACNielsen media services similar to those we offer in our other markets to provide even greater insight to our media clients," says Hugh Kwon, managing director, ACNielsen Korea. "AdEx, our advertising expenditure measurement service, and our range of sophisticated media software will prove invaluable to the Korean media industry."
ACNielsen also offers retail measurement and customized research services in Korea.
Copyright August 1999, Crain Communications Inc.