Nielsen Holdings N.V. (NLSN, Financial) is a global information and measurement company that helps clients gain an understanding of consumer behavior. Shares rose during the quarter, partly as a result of the company's acquisition of Arbitron, Inc. This deal will extend the combined company's audience measurement products to include radio, generating cost and revenue synergies with Nielsen's core television ratings business. In addition, Nielsen came closer to becoming the "currency" of measurement for digital advertising when Google announced the integration of Nielsen's online measurement products into Google properties, including YouTube. We believe the company's ability to offer audience measurement across television, radio and the Internet will generate substantial value for its clients. In addition, the company pro vided favor able details about its long- term capital allocation strategy, which we think should involve a growing dividend, share repurchases, and targeted M&A.
From Baron Funds' fourth quarter letter 2013 to shareholders.
