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Nielsen Holdings

Nielsen Holdings plc is an American information, data and market measurement[4] firm. Nielsen operates in over 100 countries and employs approximately 44,000 people worldwide.

Nielsen Holdings plc
The Nielsen Company
Typesubsidiary
NYSE: NLSN
ISINGB00BWFY5505
IndustryMedia
FoundedAugust 24, 1923; 100 years ago (1923-08-24)
FounderArthur Nielsen
HeadquartersNew York City, U.S.
Key people
James Attwood
(non-executive Chairman)[1]
David Kenny
(CEO)
Warren Jenson
(CFO)[2]
Products
Revenue US$3.5 billion (2021)[3]
US$872 million (2021)[3]
US$963 million (2021)[3]
Total assets US$10.8 billion (2021)[3]
Total equity US$3.3 billion (2021)[3]
Number of employees
c. 15,000 (December 2021)[3]
ParentElliott Investment Management
SubsidiariesGracenote, 4INFO, AGB Nielsen Philippines, Rhiza, Nielsen Media Research, The Demand Institute
Websitewww.nielsen.com

The company was listed on the New York Stock Exchange (NYSE) and used to be a component of the S&P 500.[4]

History Edit

Formation Edit

Nielsen was founded in 1923 by Arthur C. Nielsen, Sr., who invented an approach to measuring competitive sales results that made the concept of "market share" a practical management tool. The company was originally incorporated in the Netherlands and later was purchased on May 24, 2006, by a consortium of private equity firms.[4]

Merger and listing Edit

In January 2011, Nielsen consummated an initial public offering of common stock and, subsequently, started trading on the New York Stock Exchange under the symbol "NLSN".[4] On August 31, 2015, Nielsen N.V., a Dutch public company listed on the New York Stock Exchange, merged with Nielsen Holdings plc, by way of a cross-border merger under the European Cross-Border Merger Directive, with Nielsen Holdings plc being the surviving company.[4] The merger effectively changed the place of incorporation of Nielsen's publicly traded parent holding company from the Netherlands to England and Wales, with no changes made to the business being conducted by Nielsen prior to the merger.[4]

2022 buyout Edit

In March 2022, Nielsen announced that it had accepted a $16 billion offer from a group of private equity investors led by Elliott Investment Management subsidiary Evergreen Coast Capital Corp., and Brookfield Business Partners.[5] The Nielsen board of directors had turned down an initial $9 billion offer from the investment consortium.[5] The transaction was completed in October 2022.[6]

Company information Edit

 
Nielsen office in Canada

Nielsen is a global, independent measurement and data company for fast-moving consumer goods, consumer behavior, and media. With a presence in more than 100 countries and services covering more than 90% of the globe's GDP and population, Nielsen provides clients with data about what consumers watch (programming, advertising) and what they buy (categories, brands, products) on a global and local basis and how those choices intersect.[7]

The company's operations span developing and emerging markets worldwide, in more than 100 countries. According to SEC records, on February 26, 2015, Nielsen N.V., announced that its board of directors unanimously approved a proposal that resulted in a change in the company's legal domicile, from the Netherlands to the United Kingdom.[8] Upon approval, the company became incorporated under English law and was registered as a public limited company to be named Nielsen Holdings PLC.[9]

James Attwood Jr. is Nielsen's non-executive chairman,[1] and David Kenny is Nielsen's Chief Executive Officer. James Attwood succeeded Dave Calhoun as Executive Chairman in January 2016. Prior to joining Nielsen as CEO in 2006, Dave Calhoun served as Vice Chairman of the General Electric Company and President and Chief Executive Officer of GE Infrastructure, the largest of six GE business units. He served as Nielsen CEO from 2006 to 2014, when he was succeeded by Mitch Barns.[10] Barns joined Nielsen in 1997, and has held various roles in Europe, Asia, and North America leading major parts of the business.[11]

On December 3, 2018, David Kenny was named CEO of Nielsen, succeeding Mitch Barns.[citation needed]

While the Nielsen brand is most often associated with television ratings, those TV rating services comprise approximately one-quarter of the company's business and revenues. After substantial work to simplify the company over the last several years, Nielsen today aligns its business into two reporting segments: Buy (consumer purchasing measurement and analytics) and Watch (media audience measurement and analytics).[12]

What consumers buy Edit

Nielsen's Buy segment (approx. 45% of global revenues) primarily helps packaged goods companies, retailers, and Wall Street analysts understand what consumers are buying in terms of categories, brands and products. The company's aim is to measure all consumer purchases as buying behavior continues to fragment across channels and segments.[7] For example, it is Nielsen's data that measures how much Diet Coke vs. Diet Pepsi is sold in stores, or how much Crest versus Colgate toothpaste is sold. Nielsen accomplishes this by purchasing and analyzing huge amounts of retail data that measures what is being sold in the store, and then combines it with household panel data that captures everything that is brought into the home. These measures of sales performance also fuel a range of forward-looking analytics to help clients improve the precision and efficiency of their advertising spending, maximize the impact of their promotion budgets and optimize their product assortment. They also can provide insights into how changes in product offerings, pricing or marketing would change sales. Major clients include The Coca-Cola Company, Nestlé S.A., The Procter & Gamble Company, Unilever Group, and Walmart. While the United States is the company's largest market, Nielsen is a global company. In the Buy business, it covers 106 countries representing more than 90% of the world's population.[7]

What consumers watch Edit

Nielsen's Watch segment (approx. 55% of global revenues) primarily measures what consumers are watching (and listening to) across most devices: TV, radio, computers, mobile, over-the-top, etc. The company measures consumption of programming and advertising across all distribution points. Nielsen's ratings are used by advertisers and networks to shape the buying and selling of advertising. Major clients include CBS, NBC Universal, News Corporation, and The Walt Disney Company.[13] Nielsen's Watch business measures media in 47 countries that together represent approximately 80% of global advertising spending. Nielsen's digital audience measurement capability is a rapidly growing part of this footprint.[7]

Company history Edit

Arthur C. Nielsen and the invention of "Market Share" Edit

Arthur C. Nielsen founded the AC Nielsen Company in August 1923[14][15] with the idea of selling engineering performance surveys. It was the first company to offer market research.[16] The company expanded its business in 1932 by creating a retail index that tracked the flow of food and drug purchases. This was the first retail measurement of its kind and for the first time allowed a company to determine its "share" of the market—the origination of the concept of "market share"[16] Arthur C. Nielsen is credited with coining this business term.

Radio and television Edit

In 1936, Arthur C. Nielsen acquired the Audimeter, which measured which radio stations a radio had been tuned to during the day. After tinkering with the device for a few years, the company created a national radio rating service in 1942.[17] The company collected information on which stations radios were tuned to in one thousand homes. Then, this survey data was sold to manufacturers who were interested in the popularity of programs and demographic information about listeners for advertising purposes. This was the birth of audience measurement that would become the most well-known part of Nielsen's business when applied to television.[17] Today, these are commonly referred to as "Nielsen ratings".

The company began measuring television audiences in 1950, at a time when the medium was just getting off the ground. Just as with radio, a sampling of homes across the U.S. was used to develop ratings. This information was collected on a device that was attached to a television that recorded what was being watched. In 1953, the company began sending out diaries to a smaller sample of homes ("Nielsen families") within the survey to have them record what they had watched.[16] This data was put together with information from the devices. This combination of data allowed the company to statistically estimate the number of Americans watching TV and the demographic breakdown of viewers.[16] This became an important tool for advertisers and networks.

In the 1980s, the company launched a new measurement device known as the "people meter". The device resembles a remote control with buttons for each individual family member and extras for guests. Viewers push a button to signify when they are in the room and push it again when they leave, even if the TV is still on. This form of measurement was intended to provide a more accurate picture of who was watching and when.[18]

In July 2008,[19] Nielsen released the first in a series of quarterly reports, detailing video and TV usage across the ‘three screens’ – Television, Internet and Mobile devices. The A2/M2 Three Screen Report also includes trends in timeshifted viewing behavior and its relationship to online video viewing, a demographic breakdown of mobile video viewers and DVR penetration.

On September 30, 2016,[20] Nielsen made its Digital Content Ratings available in full syndication for clients.

On September 9, 2016,[21] Nielsen announced that it would retire its paper TV diaries by mid-2017 and provide all electronic measurement in its local television ratings.

Private equity Edit

Nielsen was acquired by the Dun & Bradstreet Company in 1984.[22] In 1996, D&B divided the company into two separate companies: Nielsen Media Research, which was responsible for TV ratings, and AC Nielsen, which was responsible for consumer shopping trends and box-office data.[23] In 1999, Nielsen Media Research was acquired by the Dutch publishing company VNU (Verenigde Nederlandse Uitgeverijen).[24] VNU later acquired AC Nielsen and recombined the two businesses in 2001. In between, VNU sold off its newspaper properties to Wegener and its consumer magazines to Sanoma. The company's publishing arm also owned several publications including The Hollywood Reporter and Billboard magazine. VNU combined the Nielsen properties with other research and data collection units including BASES, Claritas, HCI and Spectra. VNU also acquired companies that added to its measurement capabilities.

Becoming a public company Edit

Nielsen was a private company from 2006 through 2011. On January 25, 2011, the company listed itself on the New York Stock Exchange and issued an initial public offering (IPO) that raised $1.8 billion in the largest private equity-backed U.S. IPO since 2006.[25]

Mergers, acquisitions, strategic alliances and divestitures Edit

2004 Edit

Nielsen began a joint venture called AGB Nielsen Media Research with WPP Group's AGB Group, a European competitor which provides similar services.[26]

2006 Edit

VNU acquired a majority stake in Buzzmetrics, a company which measures consumer-generated media online. Under the new ownership, Nielsen bought the remaining shares of the company in 2007.[27] In the same year, Nielsen acquired Telephia, which measures mobile media,[28] and Bilesim Medya, a Turkish advertising intelligence firm.[29] VNU was acquired by a group of six private equity firms: the American Kohlberg Kravis Roberts, Thomas H. Lee Partners, Blackstone Group, Carlyle Group and Hellman & Friedman, and Dutch equity firm AlpInvest Partners[30] for £5bn.[31] In the same year, the group hired David L. Calhoun, formerly of General Electric, as CEO.[32] He renamed VNU as The Nielsen Company in 2007. VNU sold its business publications division for €320m (£210m) to venture capital group 3i, which then sold the UK division (VNU Business Publications Ltd) to Incisive Media.[31]

2007 Edit

In June, Nielsen acquired Telephia, a provider of syndicated consumer research to the telecom and mobile media markets.[33]

2008 Edit

Nielsen acquired IAG Research which measures viewer engagement with TV commercials.[34] The same year, Nielsen made a strategic investment in NeuroFocus, a California firm applying neuroscience brainwave techniques for consumer research. The firm was later fully acquired by Nielsen in 2011[35] In 2009 and 2010, Nielsen sold its business magazines; its well-known entertainment properties went to the new company e5 Global Media.

2009 Edit

Nielsen acquired The Cambridge Group, a management consulting firm headquartered in Chicago. The firm researches latent and emerging consumer demand.

2010 Edit

In June, Nielsen paired with McKinsey & Company to create the social media consulting company NM Incite.[36][37] NM Incite had operations in 13 global markets, including: US, UK, Germany, Spain, Italy, Australia, New Zealand, China, Japan, India, Brazil, Canada and Korea.[38]

2011 Edit

In August, Nielsen acquired Marketing Analytics, Inc.[citation needed]

2012 Edit

In February, Nielsen launched The Demand Institute in collaboration with The Conference Board. The Demand Institute is a non-profit, non-advocacy organization. In July, Nielsen acquired the advertising tech company Vizu. The acquisition was made so that Nielsen can better analyze the effectiveness of online advertisement.[39] In November, Nielsen acquired SocialGuide, a provider of social TV measurement, analytics and audience engagement solutions.[40] On December 17, 2012, Nielsen disclosed that it would acquire Arbitron, a company primarily involved in radio audience measurement, for $1.3 billion. The successful acquisition was completed on September 30, 2013.[41]

2013 Edit

On June 17, 2013, Nielsen announced that Onex Corp (TSX: OCX) had completed the acquisition of Nielsen Expositions for $950 million in cash consideration. Nielsen Expositions operated tradeshows in the United States. The company was renamed Emerald Expositions Inc. after the transaction.

2014 Edit

On February 3, 2014, Nielsen announced the acquisition of Harris Interactive, Inc. (NASDAQ:HPOL). This allowed Nielsen to take ownership of The Harris Poll.[42] Later on February 26, 2014, Nielsen acquired Nexium, a retail in-store execution and sales analytics company.[43] On September 18, 2014 Nielsen announced the acquisition of Indicus Analytics Pvt Ltd. On October 8, 2014, Nielsen acquired Affinnova, an international media and marketing research firm. The Affinnova team joins Nielsen's legacy BASES team to form Nielsen's Innovation Practice area.[44]

2015 Edit

On January 22, 2015, Nielsen acquires Brandbank, specialized in the process of digitally collecting, managing and distributing FMCG product and brand image content for retail syndication across in-store, print promotional and e-commerce platforms.[45] On March 4, 2015, Nielsen announced the acquisition of Exelate, a provider of data and technology to facilitate the buying and selling of advertising across programmatic platforms.[46] On May 27, 2015, Nielsen acquired Innerscope Research, which specialized in consumer neuroscience using biometrics, eye tracking and facial coding. Nielsen renamed its combined offering as Nielsen Consumer Neuroscience, and named Carl Marci as Chief Neuroscientist.[47]

2016 Edit

On March 3, 2016, Nielsen acquired Pointlogic, in marketing decision support systems.[48] On March 10, 2016, Nielsen acquired Mumbai-based mobile usage measurer Informate Mobile Intelligence for an undisclosed amount.[49] On June 21, 2016, Nielsen acquired Repucom, a sports measurement, evaluation and intelligence company based in Stamford, Connecticut.[50] On December 20, 2016,[51] Nielsen announced its agreement with Tribune Media Company to purchase Gracenote, a provider of media and entertainment metadata.

2017 Edit

On January 5, 2017,[52] The Carlyle Group acquired Claritas from Nielsen. On January 23, 2017,[53] the Stagwell Group announced that it acquired Nielsen's Harris brand and the Harris Poll through its Stagwell Media LLC. On February 1, 2017,[54] Nielsen completed its acquisition of Gracenote. On February 23, 2017, Nielsen acquired Rhiza, Inc., a Pittsburgh-based media and consumer analytics software firm.

2021 Edit

On July 8, 2021, Nielsen acquired TVTY, a TV attribution provider and ad monitoring company based in Paris, France, for an undisclosed amount.[55]

Verenigde Nederlandse Uitgeverijen Edit

 
Logo

Verenigde Nederlandse Uitgeverijen (VNU, literally "United Dutch Publishers", founded 1964) was a Dutch publishing company with products including European consumer magazines, Dutch regional newspapers, business publications in the European and North American markets, and educational publications.[56]

In 1997, VNU acquired the directory publishing business of ITT Sheraton (ITT World Directories) for $2.1 billion; the business was renamed VNU World Directories.[56]

VNU acquired Nielsen Media Research, part of the former AC Nielsen Company, in 1999.[57] It was the owner of the Hungarian business magazine Figyelő in the 1990s.[58]

In 2000, VNU acquired Miller Freeman, Inc. from United News & Media for a reported price of $650 million.[59] VNU merged much of the purchased Miller Freeman assets into VNU Expositions. VNU subsequently divested themselves of a few former Miller Freeman assets.[60]

VNU announced a heavy restructuring of its technology news portal, VNUNet, in February 2001. Ten employees were laid off due to the plan.[61] The company disposed of its entire magazine publishing arm later in 2001 to Sanoma for €1.25 million, and sold its newspaper properties to Wegener. Focusing instead on market research and data collection, it acquired AC Nielsen in 2001, recombining the two halves of the former Nielsen business, and added other research and data collection units including BASES, Claritas, HCI and Spectra. In 2006, the company was acquired by a consortium of six investors for €28.75 per share, a sum of €7.5 billion.[62] In the same year, the group hired David L. Calhoun, formerly of General Electric, as CEO.[63]

In 2004, VNU World Directories was sold to Apax Partners and Cinven.[64] VNU sold its business publications division in 2006 for €320m (£210m) to venture capital group 3i, which then sold the UK division (VNU Business Publications Ltd) to Incisive Media.[31]

The company was renamed The Nielsen Company in 2007.[65]

Corporate affairs and culture Edit

FIFA has signed up with Nielsen to provide official market research for the 2017 FIFA Confederations Cup and the 2018 FIFA World Cup.[66]

See also Edit

References Edit

  1. ^ a b Nielsen Board Of Directors Elects James A. Attwood, Jr. Chairman January 4, 2016
  2. ^ Nielsen appoints Warren Jenson as Chief Financial Officer September 10, 2023
  3. ^ a b c d e f "Nielsen Holdings, Inc. 2021 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 28, 2022.
  4. ^ a b c d e f "Nielsen 2015 Annual Report" (PDF). Nielsen Holdings PLC. Retrieved October 24, 2016.
  5. ^ a b Chapman, Michelle (March 29, 2022). "Media measuring company Nielsen to be acquired in $16B deal". ABC News. Associated Press. from the original on March 30, 2022. Retrieved April 17, 2022.
  6. ^ Lafayette, Jon (October 11, 2022). "Nielsen Completes $16 Billion Sale to Private Equity Consortium". Broadcasting & Cable. from the original on October 11, 2022. Retrieved July 5, 2023.
  7. ^ a b c d "Nielsen 2015 Annual Report". Nielsen 2015 Annual Report.
  8. ^ Nielsen Proposes To Move Incorporation From Netherlands To United Kingdom February 26, 2015
  9. ^ SEC Record February 26, 2015
  10. ^ Thielman, Sam (November 6, 2013). "Nielsen's Own Mitch Barns Will Succeed Outside Hire David Calhoun as CEO". AdWeek. Retrieved May 7, 2016.
  11. ^ Industry Veteran Mitch Barns To Be Nielsen's Next Chief Executive Officer November 6, 2013
  12. ^ "SEC Annual Report" (PDF).
  13. ^ Nielsen 10-K Report 2011, February 22, 2012
  14. ^ "Nielsen Company 90 Years Celebration Reception In Chicago Wednesday August 21 - And The Ordinary People Said". ChicagoNow. August 20, 2013. Retrieved April 12, 2016.
  15. ^ "Nielsen Celebrates Chicago Roots with 90th Anniversary Party - Splash Magazines - Los Angeles". Lasplash. August 20, 2013. Retrieved April 12, 2016.
  16. ^ a b c d Gillespie, Mary. "Nielsen makes viewers count by watching them watch TV." Chicago Sun-Times, April 9, 1989
  17. ^ a b Basler, Barbara. "A.C. Nielsen, Who Devised System That Rates TV Programs, Dead." The New York Times, June 4, 1980
  18. ^ Kaplan, Peter W. "Nielsen to Try New Audience-Survey Device." The New York Times, October 16, 1985
  19. ^ Stelter, Brian (July 8, 2008). "Whichever Screen, People Are Watching". The New York Times. Retrieved November 30, 2015.
  20. ^ "Nielsen Launches Digital Content Ratings". Nielsen.com. September 27, 2016. Retrieved June 16, 2017.
  21. ^ "Nielsen to Deliver All-Electronic Measurement to Local TV Markets in 2017 and Retire Paper TV Diaries in 140 Local Markets". Nielsen.com. September 14, 2016. Retrieved June 16, 2017.
  22. ^ . Archived from the original on July 5, 2008. Retrieved July 29, 2008.
  23. ^ Deogun, Nikhil. "VNU Nears Deal to Acquire ACNielsen." The Wall Street Journal, December 18, 2000
  24. ^ Pope, Kyle. "VNU to Buy Nielsen Media for $2.5 Billion — Accord to Help Dutch Firm Speed Up Its Transition To Information Concern." The Wall Street Journal, August 17, 1999
  25. ^ Spears, Lee (January 26, 2011). "Nielsen Holdings, Demand Media Shares Gain After IPOs". Bloomberg.
  26. ^ "WPP and VNU Form TV-Ratings Joint Venture". The Wall Street Journal. August 6, 2004.
  27. ^ Rodgers, Zachary (May 1, 2007). "Nielsen to Acquire Remaining Shares of BuzzMetrics". ClickZ.
  28. ^ Dickson, Glen and Eggerton, John. "Nielsen Closes on Telephia Deal". Broadcasting & Cable August 10, 2007
  29. ^ Plunket, Jack W. (2008). Plunkett's Advertising and Branding Industry Almanac 2008: Advertising and Branding Industry Market Research, Statistics, Trends and Leading Companies. Plunkett Research, Ltd. ISBN 978-1-59392-109-5.
  30. ^ Singer, Jason and Berman, Dennis K. "VNU Gets Board Approval for Sale To Group of Private-Equity Firms." The Wall Street Journal, March 8, 2006
  31. ^ a b c Incisive to buy VNU Business Publications, The Daily Telegraph, February 6, 2007
  32. ^ Siklos, Richard. "Made to Measure". Fortune, February 20, 2008
  33. ^ Story, Louise (June 28, 2007). "Nielsen Adds to Cellphone Tracking". The New York Times.
  34. ^ Elliott, Stuart. "Nielsen’s Latest Purchase is Audience Research Firm". The New York Times, April 8, 2008
  35. ^ Holmes, Gary (February 7, 2008). "Nielsen Makes Strategic Investment in NeuroFocus, an Innovative Leader in Neuromarketing Research". Nielsen Media Research
  36. ^ Kaye, Kate (June 14, 2010). "Nielsen Pairs With McKinsey for Social Media Consulting". ClickZ.
  37. ^ Zach Hofer-Shall "Nielsen Joins Forces With McKinsey For Social Intelligence Consulting" June 17, 2010, at the Wayback Machine "Forrester Blogs" June 14, 2010
  38. ^ [1] August 18, 2010, at the Wayback Machine
  39. ^ Ha, Anthony. July 2, 2012. "Nielsen Acquires Vizu To Measure Online Ad Effectiveness"
  40. ^ Nielsen, NM Incite Acquire Socialguide November 12, 2012
  41. ^ "NIELSEN ACQUIRES ARBITRON". Nielsen. Retrieved September 30, 2013.
  42. ^ "Harris Interactive Joins Nielsen". Nielsen.com. Retrieved November 30, 2015.
  43. ^ Nielsen Bolsters Shopper Marketing Credentials With Acquisition Of Nexium February 26, 2014
  44. ^ "Nielsen Acquires Affinnova". The Nielsen Company. Retrieved May 27, 2015.
  45. ^ Nielsen Acquires Brandbank January 22, 2015
  46. ^ "Nielsen Acquires Exelate". The Nielsen Company. Retrieved August 4, 2015.
  47. ^ Dooley, Roger. "Nielsen Doubles Down On Neuro". Forbes. Retrieved September 30, 2015.
  48. ^ Nielsen Acquires Pointlogic March 3, 2016
  49. ^ Nielsen buys Mumbai-based mobile usage measurer Informate Mobile Intelligence March 10, 2016
  50. ^ Nielsen Completes Acquisition Of Repucom June 21, 2016
  51. ^ "Nielsen Acquires Gracenote". Nielsen.com. December 20, 2016. Retrieved June 16, 2017.
  52. ^ . Archived from the original on February 7, 2017. Retrieved February 6, 2017.
  53. ^ "Stagwell Media LLC To Relaunch Harris Brand, Including The Harris Poll". Prnewswire.com. March 16, 2017. Retrieved June 16, 2017.
  54. ^ "Nielsen Completes Acquisition of Gracenote". www.nielsen.com.
  55. ^ "Nielsen strengthens market leading position in TV attribution and ad intelligence with acquisition of TVTY". nielsen.com. July 8, 2021.
  56. ^ a b "International Directory of Company Histories", www.fundinguniverse.com, St. James Press, vol. 27, 1999
  57. ^ Pope, Kyle. “VNU to Buy Nielsen Media for $2.5 Billion — Accord to Help Dutch Firm Speed Up Its Transition To Information Concern.” The Wall Street Journal, August 17, 1999
  58. ^ Rita M. Csapo-Sweet; Ildiko Kaposi (Spring 1999). "Mass Media in Post-Communist Hungary". International Communications Bulletin. 34 (1–2). Retrieved December 27, 2014.
  59. ^ Staff (31 July 2000) '"VNU Acquires Miller Freeman From United News & Media" Business Publisher 15(1): p.1;
  60. ^ Staff (31 January 2002) "New company acquires titles from CMP Media: UP Media Group acquires PCB Group from CMP Media" Business Publisher 16(12): p. 1-2;
  61. ^ Vickers, Amy (February 23, 2001). "VNUNet.com cuts staff in restructure". The Guardian. Retrieved July 22, 2019.
  62. ^ "Historie van de Verenigde Nederlandse Uitgevers", rtl.nl (in Dutch), RTL Nederland, retrieved September 29, 2011
  63. ^ Siklos, Richard. “Made to Measure”, Fortune Magazine, February 20, 2008. Retrieved September 29, 2011.
  64. ^ Apax and Cinven set to win £1.4bn fight for VNU arm
  65. ^ "VNU Changing Name to The Nielsen Company", hk.nielsen.com, January 22, 2007
  66. ^ . FIFA. Archived from the original on October 13, 2016. Retrieved October 24, 2016.

External links Edit

  • Official website (in English, French, German, Spanish, Italian, Polish, Portuguese, Indonesian, Japanese, Chinese, Korean, and Swedish)
    • Historical business data for Nielsen Holdings plc:
    • SEC filings
  • Nielsen Wire - Nielsen news blog
  • Nielsen 90 Year Timeline
  • List of subsidiaries of The Nielsen Company B.V. — SEC

nielsen, holdings, confused, with, nielsen, norman, group, american, information, data, market, measurement, firm, nielsen, operates, over, countries, employs, approximately, people, worldwide, plctrade, namethe, nielsen, companytypesubsidiarytraded, asnyse, n. Not to be confused with Nielsen Norman Group Nielsen Holdings plc is an American information data and market measurement 4 firm Nielsen operates in over 100 countries and employs approximately 44 000 people worldwide Nielsen Holdings plcTrade nameThe Nielsen CompanyTypesubsidiaryTraded asNYSE NLSNISINGB00BWFY5505IndustryMediaFoundedAugust 24 1923 100 years ago 1923 08 24 FounderArthur NielsenHeadquartersNew York City U S Key peopleJames Attwood non executive Chairman 1 David Kenny CEO Warren Jenson CFO 2 ProductsConsumer informationConsumer researchMarket measurementRevenueUS 3 5 billion 2021 3 Operating incomeUS 872 million 2021 3 Net incomeUS 963 million 2021 3 Total assetsUS 10 8 billion 2021 3 Total equityUS 3 3 billion 2021 3 Number of employeesc 15 000 December 2021 3 ParentElliott Investment ManagementSubsidiariesGracenote 4INFO AGB Nielsen Philippines Rhiza Nielsen Media Research The Demand InstituteWebsitewww wbr nielsen wbr comThe company was listed on the New York Stock Exchange NYSE and used to be a component of the S amp P 500 4 Contents 1 History 1 1 Formation 1 2 Merger and listing 1 3 2022 buyout 2 Company information 2 1 What consumers buy 2 2 What consumers watch 3 Company history 3 1 Arthur C Nielsen and the invention of Market Share 3 2 Radio and television 3 3 Private equity 3 4 Becoming a public company 3 5 Mergers acquisitions strategic alliances and divestitures 3 5 1 2004 3 5 2 2006 3 5 3 2007 3 5 4 2008 3 5 5 2009 3 5 6 2010 3 5 7 2011 3 5 8 2012 3 5 9 2013 3 5 10 2014 3 5 11 2015 3 5 12 2016 3 5 13 2017 3 5 14 2021 3 6 Verenigde Nederlandse Uitgeverijen 4 Corporate affairs and culture 5 See also 6 References 7 External linksHistory EditFormation Edit Nielsen was founded in 1923 by Arthur C Nielsen Sr who invented an approach to measuring competitive sales results that made the concept of market share a practical management tool The company was originally incorporated in the Netherlands and later was purchased on May 24 2006 by a consortium of private equity firms 4 Merger and listing Edit In January 2011 Nielsen consummated an initial public offering of common stock and subsequently started trading on the New York Stock Exchange under the symbol NLSN 4 On August 31 2015 Nielsen N V a Dutch public company listed on the New York Stock Exchange merged with Nielsen Holdings plc by way of a cross border merger under the European Cross Border Merger Directive with Nielsen Holdings plc being the surviving company 4 The merger effectively changed the place of incorporation of Nielsen s publicly traded parent holding company from the Netherlands to England and Wales with no changes made to the business being conducted by Nielsen prior to the merger 4 2022 buyout Edit In March 2022 Nielsen announced that it had accepted a 16 billion offer from a group of private equity investors led by Elliott Investment Management subsidiary Evergreen Coast Capital Corp and Brookfield Business Partners 5 The Nielsen board of directors had turned down an initial 9 billion offer from the investment consortium 5 The transaction was completed in October 2022 6 Company information Edit nbsp Nielsen office in CanadaNielsen is a global independent measurement and data company for fast moving consumer goods consumer behavior and media With a presence in more than 100 countries and services covering more than 90 of the globe s GDP and population Nielsen provides clients with data about what consumers watch programming advertising and what they buy categories brands products on a global and local basis and how those choices intersect 7 The company s operations span developing and emerging markets worldwide in more than 100 countries According to SEC records on February 26 2015 Nielsen N V announced that its board of directors unanimously approved a proposal that resulted in a change in the company s legal domicile from the Netherlands to the United Kingdom 8 Upon approval the company became incorporated under English law and was registered as a public limited company to be named Nielsen Holdings PLC 9 James Attwood Jr is Nielsen s non executive chairman 1 and David Kenny is Nielsen s Chief Executive Officer James Attwood succeeded Dave Calhoun as Executive Chairman in January 2016 Prior to joining Nielsen as CEO in 2006 Dave Calhoun served as Vice Chairman of the General Electric Company and President and Chief Executive Officer of GE Infrastructure the largest of six GE business units He served as Nielsen CEO from 2006 to 2014 when he was succeeded by Mitch Barns 10 Barns joined Nielsen in 1997 and has held various roles in Europe Asia and North America leading major parts of the business 11 On December 3 2018 David Kenny was named CEO of Nielsen succeeding Mitch Barns citation needed While the Nielsen brand is most often associated with television ratings those TV rating services comprise approximately one quarter of the company s business and revenues After substantial work to simplify the company over the last several years Nielsen today aligns its business into two reporting segments Buy consumer purchasing measurement and analytics and Watch media audience measurement and analytics 12 What consumers buy Edit Nielsen s Buy segment approx 45 of global revenues primarily helps packaged goods companies retailers and Wall Street analysts understand what consumers are buying in terms of categories brands and products The company s aim is to measure all consumer purchases as buying behavior continues to fragment across channels and segments 7 For example it is Nielsen s data that measures how much Diet Coke vs Diet Pepsi is sold in stores or how much Crest versus Colgate toothpaste is sold Nielsen accomplishes this by purchasing and analyzing huge amounts of retail data that measures what is being sold in the store and then combines it with household panel data that captures everything that is brought into the home These measures of sales performance also fuel a range of forward looking analytics to help clients improve the precision and efficiency of their advertising spending maximize the impact of their promotion budgets and optimize their product assortment They also can provide insights into how changes in product offerings pricing or marketing would change sales Major clients include The Coca Cola Company Nestle S A The Procter amp Gamble Company Unilever Group and Walmart While the United States is the company s largest market Nielsen is a global company In the Buy business it covers 106 countries representing more than 90 of the world s population 7 What consumers watch Edit Nielsen s Watch segment approx 55 of global revenues primarily measures what consumers are watching and listening to across most devices TV radio computers mobile over the top etc The company measures consumption of programming and advertising across all distribution points Nielsen s ratings are used by advertisers and networks to shape the buying and selling of advertising Major clients include CBS NBC Universal News Corporation and The Walt Disney Company 13 Nielsen s Watch business measures media in 47 countries that together represent approximately 80 of global advertising spending Nielsen s digital audience measurement capability is a rapidly growing part of this footprint 7 Company history EditArthur C Nielsen and the invention of Market Share Edit Arthur C Nielsen founded the AC Nielsen Company in August 1923 14 15 with the idea of selling engineering performance surveys It was the first company to offer market research 16 The company expanded its business in 1932 by creating a retail index that tracked the flow of food and drug purchases This was the first retail measurement of its kind and for the first time allowed a company to determine its share of the market the origination of the concept of market share 16 Arthur C Nielsen is credited with coining this business term Radio and television Edit In 1936 Arthur C Nielsen acquired the Audimeter which measured which radio stations a radio had been tuned to during the day After tinkering with the device for a few years the company created a national radio rating service in 1942 17 The company collected information on which stations radios were tuned to in one thousand homes Then this survey data was sold to manufacturers who were interested in the popularity of programs and demographic information about listeners for advertising purposes This was the birth of audience measurement that would become the most well known part of Nielsen s business when applied to television 17 Today these are commonly referred to as Nielsen ratings The company began measuring television audiences in 1950 at a time when the medium was just getting off the ground Just as with radio a sampling of homes across the U S was used to develop ratings This information was collected on a device that was attached to a television that recorded what was being watched In 1953 the company began sending out diaries to a smaller sample of homes Nielsen families within the survey to have them record what they had watched 16 This data was put together with information from the devices This combination of data allowed the company to statistically estimate the number of Americans watching TV and the demographic breakdown of viewers 16 This became an important tool for advertisers and networks In the 1980s the company launched a new measurement device known as the people meter The device resembles a remote control with buttons for each individual family member and extras for guests Viewers push a button to signify when they are in the room and push it again when they leave even if the TV is still on This form of measurement was intended to provide a more accurate picture of who was watching and when 18 In July 2008 19 Nielsen released the first in a series of quarterly reports detailing video and TV usage across the three screens Television Internet and Mobile devices The A2 M2 Three Screen Report also includes trends in timeshifted viewing behavior and its relationship to online video viewing a demographic breakdown of mobile video viewers and DVR penetration On September 30 2016 20 Nielsen made its Digital Content Ratings available in full syndication for clients On September 9 2016 21 Nielsen announced that it would retire its paper TV diaries by mid 2017 and provide all electronic measurement in its local television ratings Private equity Edit Nielsen was acquired by the Dun amp Bradstreet Company in 1984 22 In 1996 D amp B divided the company into two separate companies Nielsen Media Research which was responsible for TV ratings and AC Nielsen which was responsible for consumer shopping trends and box office data 23 In 1999 Nielsen Media Research was acquired by the Dutch publishing company VNU Verenigde Nederlandse Uitgeverijen 24 VNU later acquired AC Nielsen and recombined the two businesses in 2001 In between VNU sold off its newspaper properties to Wegener and its consumer magazines to Sanoma The company s publishing arm also owned several publications including The Hollywood Reporter and Billboard magazine VNU combined the Nielsen properties with other research and data collection units including BASES Claritas HCI and Spectra VNU also acquired companies that added to its measurement capabilities Becoming a public company Edit Nielsen was a private company from 2006 through 2011 On January 25 2011 the company listed itself on the New York Stock Exchange and issued an initial public offering IPO that raised 1 8 billion in the largest private equity backed U S IPO since 2006 25 Mergers acquisitions strategic alliances and divestitures Edit 2004 Edit Nielsen began a joint venture called AGB Nielsen Media Research with WPP Group s AGB Group a European competitor which provides similar services 26 2006 Edit VNU acquired a majority stake in Buzzmetrics a company which measures consumer generated media online Under the new ownership Nielsen bought the remaining shares of the company in 2007 27 In the same year Nielsen acquired Telephia which measures mobile media 28 and Bilesim Medya a Turkish advertising intelligence firm 29 VNU was acquired by a group of six private equity firms the American Kohlberg Kravis Roberts Thomas H Lee Partners Blackstone Group Carlyle Group and Hellman amp Friedman and Dutch equity firm AlpInvest Partners 30 for 5bn 31 In the same year the group hired David L Calhoun formerly of General Electric as CEO 32 He renamed VNU as The Nielsen Company in 2007 VNU sold its business publications division for 320m 210m to venture capital group 3i which then sold the UK division VNU Business Publications Ltd to Incisive Media 31 2007 Edit In June Nielsen acquired Telephia a provider of syndicated consumer research to the telecom and mobile media markets 33 2008 Edit Nielsen acquired IAG Research which measures viewer engagement with TV commercials 34 The same year Nielsen made a strategic investment in NeuroFocus a California firm applying neuroscience brainwave techniques for consumer research The firm was later fully acquired by Nielsen in 2011 35 In 2009 and 2010 Nielsen sold its business magazines its well known entertainment properties went to the new company e5 Global Media 2009 Edit Nielsen acquired The Cambridge Group a management consulting firm headquartered in Chicago The firm researches latent and emerging consumer demand 2010 Edit In June Nielsen paired with McKinsey amp Company to create the social media consulting company NM Incite 36 37 NM Incite had operations in 13 global markets including US UK Germany Spain Italy Australia New Zealand China Japan India Brazil Canada and Korea 38 2011 Edit In August Nielsen acquired Marketing Analytics Inc citation needed 2012 Edit In February Nielsen launched The Demand Institute in collaboration with The Conference Board The Demand Institute is a non profit non advocacy organization In July Nielsen acquired the advertising tech company Vizu The acquisition was made so that Nielsen can better analyze the effectiveness of online advertisement 39 In November Nielsen acquired SocialGuide a provider of social TV measurement analytics and audience engagement solutions 40 On December 17 2012 Nielsen disclosed that it would acquire Arbitron a company primarily involved in radio audience measurement for 1 3 billion The successful acquisition was completed on September 30 2013 41 2013 Edit On June 17 2013 Nielsen announced that Onex Corp TSX OCX had completed the acquisition of Nielsen Expositions for 950 million in cash consideration Nielsen Expositions operated tradeshows in the United States The company was renamed Emerald Expositions Inc after the transaction 2014 Edit On February 3 2014 Nielsen announced the acquisition of Harris Interactive Inc NASDAQ HPOL This allowed Nielsen to take ownership of The Harris Poll 42 Later on February 26 2014 Nielsen acquired Nexium a retail in store execution and sales analytics company 43 On September 18 2014 Nielsen announced the acquisition of Indicus Analytics Pvt Ltd On October 8 2014 Nielsen acquired Affinnova an international media and marketing research firm The Affinnova team joins Nielsen s legacy BASES team to form Nielsen s Innovation Practice area 44 2015 Edit On January 22 2015 Nielsen acquires Brandbank specialized in the process of digitally collecting managing and distributing FMCG product and brand image content for retail syndication across in store print promotional and e commerce platforms 45 On March 4 2015 Nielsen announced the acquisition of Exelate a provider of data and technology to facilitate the buying and selling of advertising across programmatic platforms 46 On May 27 2015 Nielsen acquired Innerscope Research which specialized in consumer neuroscience using biometrics eye tracking and facial coding Nielsen renamed its combined offering as Nielsen Consumer Neuroscience and named Carl Marci as Chief Neuroscientist 47 2016 Edit On March 3 2016 Nielsen acquired Pointlogic in marketing decision support systems 48 On March 10 2016 Nielsen acquired Mumbai based mobile usage measurer Informate Mobile Intelligence for an undisclosed amount 49 On June 21 2016 Nielsen acquired Repucom a sports measurement evaluation and intelligence company based in Stamford Connecticut 50 On December 20 2016 51 Nielsen announced its agreement with Tribune Media Company to purchase Gracenote a provider of media and entertainment metadata 2017 Edit On January 5 2017 52 The Carlyle Group acquired Claritas from Nielsen On January 23 2017 53 the Stagwell Group announced that it acquired Nielsen s Harris brand and the Harris Poll through its Stagwell Media LLC On February 1 2017 54 Nielsen completed its acquisition of Gracenote On February 23 2017 Nielsen acquired Rhiza Inc a Pittsburgh based media and consumer analytics software firm 2021 Edit On July 8 2021 Nielsen acquired TVTY a TV attribution provider and ad monitoring company based in Paris France for an undisclosed amount 55 Verenigde Nederlandse Uitgeverijen Edit nbsp LogoVerenigde Nederlandse Uitgeverijen VNU literally United Dutch Publishers founded 1964 was a Dutch publishing company with products including European consumer magazines Dutch regional newspapers business publications in the European and North American markets and educational publications 56 In 1997 VNU acquired the directory publishing business of ITT Sheraton ITT World Directories for 2 1 billion the business was renamed VNU World Directories 56 VNU acquired Nielsen Media Research part of the former AC Nielsen Company in 1999 57 It was the owner of the Hungarian business magazine Figyelo in the 1990s 58 In 2000 VNU acquired Miller Freeman Inc from United News amp Media for a reported price of 650 million 59 VNU merged much of the purchased Miller Freeman assets into VNU Expositions VNU subsequently divested themselves of a few former Miller Freeman assets 60 VNU announced a heavy restructuring of its technology news portal VNUNet in February 2001 Ten employees were laid off due to the plan 61 The company disposed of its entire magazine publishing arm later in 2001 to Sanoma for 1 25 million and sold its newspaper properties to Wegener Focusing instead on market research and data collection it acquired AC Nielsen in 2001 recombining the two halves of the former Nielsen business and added other research and data collection units including BASES Claritas HCI and Spectra In 2006 the company was acquired by a consortium of six investors for 28 75 per share a sum of 7 5 billion 62 In the same year the group hired David L Calhoun formerly of General Electric as CEO 63 In 2004 VNU World Directories was sold to Apax Partners and Cinven 64 VNU sold its business publications division in 2006 for 320m 210m to venture capital group 3i which then sold the UK division VNU Business Publications Ltd to Incisive Media 31 The company was renamed The Nielsen Company in 2007 65 Corporate affairs and culture EditFIFA has signed up with Nielsen to provide official market research for the 2017 FIFA Confederations Cup and the 2018 FIFA World Cup 66 See also EditNielsen CorporationReferences Edit a b Nielsen Board Of Directors Elects James A Attwood Jr Chairman January 4 2016 Nielsen appoints Warren Jenson as Chief Financial Officer September 10 2023 a b c d e f Nielsen Holdings Inc 2021 Annual Report Form 10 K U S Securities and Exchange Commission February 28 2022 a b c d e f Nielsen 2015 Annual Report PDF Nielsen Holdings PLC Retrieved October 24 2016 a b Chapman Michelle March 29 2022 Media measuring company Nielsen to be acquired in 16B deal ABC News Associated Press Archived from the original on March 30 2022 Retrieved April 17 2022 Lafayette Jon October 11 2022 Nielsen Completes 16 Billion Sale to Private Equity Consortium Broadcasting amp Cable Archived from the original on October 11 2022 Retrieved July 5 2023 a b c d Nielsen 2015 Annual Report Nielsen 2015 Annual Report Nielsen Proposes To Move Incorporation From Netherlands To United Kingdom February 26 2015 SEC Record February 26 2015 Thielman Sam November 6 2013 Nielsen s Own Mitch Barns Will Succeed Outside Hire David Calhoun as CEO AdWeek Retrieved May 7 2016 Industry Veteran Mitch Barns To Be Nielsen s Next Chief Executive Officer November 6 2013 SEC Annual Report PDF Nielsen 10 K Report 2011 February 22 2012 Nielsen Company 90 Years Celebration Reception In Chicago Wednesday August 21 And The Ordinary People Said ChicagoNow August 20 2013 Retrieved April 12 2016 Nielsen Celebrates Chicago Roots with 90th Anniversary Party Splash Magazines Los Angeles Lasplash August 20 2013 Retrieved April 12 2016 a b c d Gillespie Mary Nielsen makes viewers count by watching them watch TV Chicago Sun Times April 9 1989 a b Basler Barbara A C Nielsen Who Devised System That Rates TV Programs Dead The New York Times June 4 1980 Kaplan Peter W Nielsen to Try New Audience Survey Device The New York Times October 16 1985 Stelter Brian July 8 2008 Whichever Screen People Are Watching The New York Times Retrieved November 30 2015 Nielsen Launches Digital Content Ratings Nielsen com September 27 2016 Retrieved June 16 2017 Nielsen to Deliver All Electronic Measurement to Local TV Markets in 2017 and Retire Paper TV Diaries in 140 Local Markets Nielsen com September 14 2016 Retrieved June 16 2017 Learn about the company history of D amp B and where we are today at DNB com Archived from the original on July 5 2008 Retrieved July 29 2008 Deogun Nikhil VNU Nears Deal to Acquire ACNielsen The Wall Street Journal December 18 2000 Pope Kyle VNU to Buy Nielsen Media for 2 5 Billion Accord to Help Dutch Firm Speed Up Its Transition To Information Concern The Wall Street Journal August 17 1999 Spears Lee January 26 2011 Nielsen Holdings Demand Media Shares Gain After IPOs Bloomberg WPP and VNU Form TV Ratings Joint Venture The Wall Street Journal August 6 2004 Rodgers Zachary May 1 2007 Nielsen to Acquire Remaining Shares of BuzzMetrics ClickZ Dickson Glen and Eggerton John Nielsen Closes on Telephia Deal Broadcasting amp Cable August 10 2007 Plunket Jack W 2008 Plunkett s Advertising and Branding Industry Almanac 2008 Advertising and Branding Industry Market Research Statistics Trends and Leading Companies Plunkett Research Ltd ISBN 978 1 59392 109 5 Singer Jason and Berman Dennis K VNU Gets Board Approval for Sale To Group of Private Equity Firms The Wall Street Journal March 8 2006 a b c Incisive to buy VNU Business Publications The Daily Telegraph February 6 2007 Siklos Richard Made to Measure Fortune February 20 2008 Story Louise June 28 2007 Nielsen Adds to Cellphone Tracking The New York Times Elliott Stuart Nielsen s Latest Purchase is Audience Research Firm The New York Times April 8 2008 Holmes Gary February 7 2008 Nielsen Makes Strategic Investment in NeuroFocus an Innovative Leader in Neuromarketing Research Nielsen Media Research Kaye Kate June 14 2010 Nielsen Pairs With McKinsey for Social Media Consulting ClickZ Zach Hofer Shall Nielsen Joins Forces With McKinsey For Social Intelligence Consulting Archived June 17 2010 at the Wayback Machine Forrester Blogs June 14 2010 1 Archived August 18 2010 at the Wayback Machine Ha Anthony July 2 2012 Nielsen Acquires Vizu To Measure Online Ad Effectiveness Nielsen NM Incite Acquire Socialguide November 12 2012 NIELSEN ACQUIRES ARBITRON Nielsen Retrieved September 30 2013 Harris Interactive Joins Nielsen Nielsen com Retrieved November 30 2015 Nielsen Bolsters Shopper Marketing Credentials With Acquisition Of Nexium February 26 2014 Nielsen Acquires Affinnova The Nielsen Company Retrieved May 27 2015 Nielsen Acquires Brandbank January 22 2015 Nielsen Acquires Exelate The Nielsen Company Retrieved August 4 2015 Dooley Roger Nielsen Doubles Down On Neuro Forbes Retrieved September 30 2015 Nielsen Acquires Pointlogic March 3 2016 Nielsen buys Mumbai based mobile usage measurer Informate Mobile Intelligence March 10 2016 Nielsen Completes Acquisition Of Repucom June 21 2016 Nielsen Acquires Gracenote Nielsen com December 20 2016 Retrieved June 16 2017 The Carlyle Group Completes Acquisition of Claritas from Nielsen Archived from the original on February 7 2017 Retrieved February 6 2017 Stagwell Media LLC To Relaunch Harris Brand Including The Harris Poll Prnewswire com March 16 2017 Retrieved June 16 2017 Nielsen Completes Acquisition of Gracenote www nielsen com Nielsen strengthens market leading position in TV attribution and ad intelligence with acquisition of TVTY nielsen com July 8 2021 a b International Directory of Company Histories www fundinguniverse com St James Press vol 27 1999 Pope Kyle VNU to Buy Nielsen Media for 2 5 Billion Accord to Help Dutch Firm Speed Up Its Transition To Information Concern The Wall Street Journal August 17 1999 Rita M Csapo Sweet Ildiko Kaposi Spring 1999 Mass Media in Post Communist Hungary International Communications Bulletin 34 1 2 Retrieved December 27 2014 Staff 31 July 2000 VNU Acquires Miller Freeman From United News amp Media Business Publisher 15 1 p 1 Staff 31 January 2002 New company acquires titles from CMP Media UP Media Group acquires PCB Group from CMP Media Business Publisher 16 12 p 1 2 Vickers Amy February 23 2001 VNUNet com cuts staff in restructure The Guardian Retrieved July 22 2019 Historie van de Verenigde Nederlandse Uitgevers rtl nl in Dutch RTL Nederland retrieved September 29 2011 Siklos Richard Made to Measure Fortune Magazine February 20 2008 Retrieved September 29 2011 Apax and Cinven set to win 1 4bn fight for VNU arm VNU Changing Name to The Nielsen Company hk nielsen com January 22 2007 Nielsen to provide official market research for the FIFA Confederations Cup 2017 and 2018 FIFA World Cup FIFA Archived from the original on October 13 2016 Retrieved October 24 2016 External links EditOfficial website in English French German Spanish Italian Polish Portuguese Indonesian Japanese Chinese Korean and Swedish Historical business data for Nielsen Holdings plc SEC filings Nielsen Wire Nielsen news blog Nielsen 90 Year Timeline List of subsidiaries of The Nielsen Company B V SEC Portal nbsp Companies Retrieved from https en wikipedia org w index php title Nielsen Holdings amp oldid 1174846903, wikipedia, wiki, book, books, library,

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