Comscore Announces Strategic Investment by Charter Communications, Qurate Retail and Cerberus
Vinson & Elkins advised Comscore, Inc. (the “Company”), a trusted partner for planning, transacting and evaluating media across platforms, in connection with a recapitalization transaction involving investments in convertible preferred stock from Charter Communications Holding Company, LLC (“Charter”), Qurate Retail, Inc. and an affiliate of Cerberus Capital Management, L.P. The investment proceeds will be used to retire the Company’s existing debt and significantly improve the Company’s financial flexibility and liquidity position, and is accompanied by commercial arrangements with Charter and Comcast Cable Communications to enhance the Company’s ability to provide advertisers with more reliable measurement data across media platforms.
The V&E corporate team was led by partners John Kupiec and Lawrence Elbaum and senior associates Stancell Haigwood and Yong Eoh, with assistance from associates Alice Zhang and Joe Milano. Also advising were partner Tzvi Werzberger and senior associate Blair Marsteller; counsel Regina Ibarra, partner Brian Bloom and associate Mary Daniel Morgan; partner Sean Becker; partner Lina Dimachkieh, senior associate Paige Anderson and associate Andrew Mandelbaum; partner Hill Wellford and senior associate Ryan Will; partners Fry Wernick and Dave Johnson, counsel Elizabeth Krabill McIntyre and senior associate Brian Howard; and senior associate Ben Cukerbaum. Partner Paul Tobias and senior partner Alan Bogdanow also provided guidance on the transaction.
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