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Nielsen closes Gracenote acquisition

Nielsen Holdings completed its acquisition of media and entertainment metadata provider Gracenote from Tribune Media Co.

Following the acquisition, Gracenote will continue to operate from its headquarters in Emeryville, Calif., and will be added as a business unit to Nielsen's Watch segment. Nielsen expects the acquisition to be neutral to 2017 GAAP EPS and slightly accretive in 2018, according to a Feb. 1 news release.

Tribune Media in December 2016 agreed to sell substantially all of its digital and data business operations, made up of Gracenote video, music and sports, to Nielsen for $560 million in cash. Tribune said after-tax proceeds are estimated to be about $500 million, of which $400 million was used to repay existing debt, with the remainder to be reinvested in the business. Tribune Media will continue to own its business-to-consumer websites, Covers.com and ProSportsDaily.com.

With the acquisition, Nielsen gets access to the data and technology of Gracenote underpinning the programming guides and personalized user experience around the consumption of video, music and sports content. Gracenote provides reference information for more than 12 million movie and TV listings and 200 million music tracks as well as the infotainment systems in more than 75 million automobiles.