SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 2, 2001
Delaware | 1-01969 | 52-0278528 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
142 West 57th Street, New York, New York | 10019-3300 | |||
(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (212) 887-1300
Item 2. Acquisition or Disposition of Assets.
On July 2, 2001, Arbitron Inc. (the Company) acquired all of the assets and assumed certain of the liabilities of the Radios All Dimension Audience Research (RADAR®) radio network audience measurement service business of Statistical Research, Inc. (SRI). RADAR is a national radio ratings service that measures audiences to radio commercials aired on 29 radio networks operated by ABC, American Urban Radio Networks, Premiere Radio Network and Westwood One Radio Network. The service produces estimates using a 12-month, 12,000-person telephone survey together with the industry-standard commercial clearance system.
The transaction was consummated pursuant to the terms of an Asset Purchase Agreement dated as of July 2, 2001 among the Company, SRI and Mr. Gale Metzger and Dr. Gerald Glasser, the principal shareholders of SRI. The aggregate consideration to be paid by the Company to SRI for the purchase of the assets is payable in cash up to $25 million, subject to purchase price adjustments and performance of the purchased assets, and is payable over two years. The Company paid $10 million in cash to SRI upon the consummation of the transaction. In connection with the acquisition, the Company also entered into several operational agreements with SRI, including a software development agreement pursuant to which SRI will adapt RADAR to the Companys diary based ratings measurement method.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of Business Acquired.
It is impracticable to provide the financial statements required
relative to the acquired business described in Item 2 at the time this
Current Report on Form 8-K is filed. The Company will file the
required financial statements on or before September 15, 2001.
(b) Pro Forma Financial Information.
It is impracticable to provide the pro forma financial information
required relative to the acquired business described in Item 2 at the
time this Current Report on Form 8-K is filed. The Company will
file
the required pro forma financial information on or before
September 15, 2001.
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(c) Exhibits.
2.1 | Asset Purchase Agreement dated as of July 2, 2001 among Arbitron Inc., Statistical Research, Inc., Gale Metzger and Gerald Glasser (exhibits and schedules omitted). | |
10.1 | Software Development and Consulting Agreement dated as of July 2, 2002 by and between Arbitron Inc. and Statistical Research, Inc. | |
99.1 | Text of press release dated July 2, 2001 by Arbitron Inc. announcing the acquisition of the RADAR business. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.
ARBITRON INC. | ||||||
Date: | July 17, 2001 | By: | /s/ Dolores L. Cody | |||
Dolores L. Cody | ||||||
Executive Vice President, Legal and | ||||||
Business Affairs, Chief Legal Officer | ||||||
and Secretary |
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EXHIBIT INDEX
Exhibit No. | Description | |
2.1 | Asset Purchase Agreement dated as of July 2, 2001 among Arbitron Inc., Statistical Research, Inc., Gale Metzger and Gerald Glasser (exhibits and schedules omitted). | |
10.1 | Software Development and Consulting Agreement dated as of July 2, 2002 by and between Arbitron Inc. and Statistical Research, Inc. | |
99.1 | Text of press release dated July 2, 2001 by Arbitron Inc. announcing the acquisition of the RADAR business. |
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