QRTEA - Comscore to issue $204M convertible preferred shares to Charter Communications Qurate Retail and Cerberus

Comscore (SCOR) rises 17% pre-market as it announces investments from Charter Communications (CHTR) Qurate Retail (QRTEA) and an affiliate of Cerberus Capital Management, L.P.Charter, Qurate and Cerberus each to make a cash investment in exchange for shares of convertible preferred stock. Comscore to issue convertible preferred stock of $204M ($68M per investor) at $2.47/share; each investor receives 27.5M convertible preferred shares.Proceeds from the investment to be used to retire the Comscore’s existing debt and significantly improve its financial flexibility and liquidity position.Comscore’s convertible debt held by Starboard and secured term note each will be repaid in full at the closing of the transaction.As part of the transaction, Comscore to enter into an extended data license agreement with Charter. The 10-year Charter license will allow Comscore to pursue additional revenue in TV, digital and cross-platform audience and impression-based currency, enhanced addressable advertising capabilities and outcome-based attribution.Additionally, Comscore announced that Comcast Cable Communications will be

For further details see:

Comscore to issue $204M convertible preferred shares to Charter Communications, Qurate Retail and Cerberus