这项交易由母公司凯度集团于 2025 年夏季完成，将 Kantar Media 出售给私募基金 H.I.G. Capital。交易 于 2025 年 8 月正式交割，Kantar Media 由此从原有的综合研究集团中拆分，成为一家专注于媒体测量 与数据智能的独立公司。根据交易条款，公司需在两年内完成品牌更名。 如今，这一要求正式落地。 01 （原标题：Kantar Media 更名 Fifty5Blue：一次从"收视率公司"到"媒体智能平台"的再定位） 在完成一笔高达 10 亿美元的私募股权交易后，全球知名受众测量公司 Kantar Media 凯度媒体正式启 用全新品牌 Fifty5Blue，开启独立发展的新阶段。 品牌更名，但核心资产未变 更名为 Fifty5Blue 后，公司并未对其核心产品体系"推倒重来"。长期构成其业务基石的多项产品仍将继 续运营，包括： 这些产品依旧是 Fifty5Blue 商业模式的核心。 全球 CEO Patrick Béhar 在接受广告媒体采访时表示，新品牌名称承载着对"透明性"和"独立性"的强 调。 "55 这个数字既指向公司的历史积累，也象征着我们对未来的雄心，"Bé ...

Core Insights - Brookfield Business Partners is undergoing a corporate reorganization to create a single, newly listed corporation, which is expected to enhance trading liquidity and broaden investor access [3][4] Market Conditions - In Europe, conditions are challenging with slower activity in cyclical and industrial markets, but early signs of improvement are noted due to fiscal spending increases, stabilizing energy prices, and accommodative monetary policy [1] - North America shows relatively stable conditions with easing rates, steady consumer spending, and resilient labor markets, although near-term growth remains difficult in some end markets [2] Financial Performance - Brookfield Business Partners reported full-year adjusted EBITDA of $2.4 billion, down from $2.6 billion in 2024, attributed to lower ownership in three businesses following partial sales [10] - Adjusted EFO for the year was $1.2 billion, including $161 million of net gains [11] Capital Management - The company generated over $2 billion from capital recycling, repaid approximately $1 billion of corporate borrowings, and invested $700 million in growth acquisitions [4] - Brookfield has repurchased about $235 million of units and shares at an average price of about $26, with a commitment to complete its $250 million buyback program [13] Operational Highlights - Clarios has seen a 40% increase in underlying annual EBITDA since Brookfield's acquisition, with expectations for similar growth over the next five years [5] - Nielsen executed about $800 million in cost savings since acquisition, with EBITDA margins increasing by over 350 basis points [7] - DexKo managed to maintain low single-digit EBITDA growth despite weak end-market conditions [8] Segment Performance - Industrial segment adjusted EBITDA rose to $1.3 billion, up from $1.2 billion, with a 10% increase in performance excluding acquisitions and dispositions [16] - Business services segment adjusted EBITDA was $823 million, reflecting a slight decrease, while the infrastructure services segment saw a decline to $436 million [16] Future Outlook - The company anticipates continued momentum in 2026, with multiple opportunities aligned with its strategy, suggesting it could be a very active year [19]

Financial Data and Key Metrics Changes - The company generated full-year Adjusted EBITDA of $2.4 billion, down from $2.6 billion in 2024, reflecting lower ownership in three businesses following partial sales [17] - Adjusted EFO for the year was $1.2 billion, including $161 million of net gains during the year [17] - Excluding tax credits and the impact of acquisitions and dispositions, Adjusted EBITDA was $2.1 billion, compared to $2 billion in the prior year [17] Business Line Data and Key Metrics Changes - The industrial segment generated full-year Adjusted EBITDA of $1.3 billion, up from $1.2 billion last year, with a 10% increase excluding acquisitions and dispositions [18] - The business services segment generated full-year Adjusted EBITDA of $823 million, down from $832 million last year, but increased approximately 5% on a same-store basis [19] - The infrastructure services segment generated full-year Adjusted EBITDA of $436 million, down from $606 million last year, impacted by the sale of operations and lower terminal deliveries [20] Market Data and Key Metrics Changes - North America is benefiting from easing rates, steady consumer spending, and resilient labor markets, although growth remains challenging in certain end markets [10] - In Europe, conditions are more challenging with slower activity in cyclical and industrial end markets, but early signs of improvement are noted due to fiscal spending and stabilizing energy prices [11] Company Strategy and Development Direction - The company is close to completing a corporate reorganization to become a single, newly listed corporation, which is expected to improve trading liquidity and attract global investors [5] - The strategy focuses on operational excellence and capitalizing on de-globalization and AI trends to reshape supply chains and enhance business performance [7][8] - The company aims to continue compounding value for shareholders through capital recycling, growth acquisitions, and stock repurchases [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market backdrop, noting that the trading price is 50% higher than a year ago but still at a discount to NAV [8] - The company is well-positioned with capital and capabilities to build value in 2026, with a strong pipeline of new commercial opportunities [9][15] Other Important Information - The company ended the year with approximately $2.6 billion of pro forma liquidity at the corporate level, providing significant flexibility for growth and capital allocation [21] - The company has repurchased approximately $235 million of its units and shares, remaining committed to completing its $250 million buyback program [21] Q&A Session Summary Question: Regarding Clarios' performance and tax credits - Management indicated that Clarios is generating significant free cash flow, and the 45X tax credits will enhance cash for reinvestment, with various options for shareholder returns being considered [23][24] Question: On Scientific Games' earnings trajectory - Management expressed cautious optimism about Scientific Games, noting a strong market position and a robust pipeline, but emphasized that earnings growth may take time to materialize [26][27] Question: On the balance between reducing leverage and pursuing growth - Management stated that growing EBITDA will naturally reduce leverage, and the focus remains on growth while managing debt levels effectively [28][29] Question: Update on CDK operations - Management reported strong renewal activity and a focus on stabilizing churn through technology adoption, with a positive long-term outlook for the business [42][44] Question: On monetization environment and deployment pacing - Management noted a strong environment for monetizations and indicated that 2026 is expected to be an active year for acquisitions, continuing the momentum from 2025 [45][46]

Financial Data and Key Metrics Changes - The company generated full-year Adjusted EBITDA of $2.4 billion, a decrease from $2.6 billion in 2024, reflecting lower ownership in three businesses following partial sales [17] - Adjusted EFO for the year was $1.2 billion, including $161 million of net gains during the year [17] - Excluding tax credits and the impact of acquisitions and dispositions, Adjusted EBITDA was $2.1 billion, compared to $2 billion in the prior year [17] Business Line Data and Key Metrics Changes - The industrial segment generated full-year Adjusted EBITDA of $1.3 billion, up from $1.2 billion last year, with a 10% increase excluding acquisitions and dispositions [17][18] - The business services segment generated full-year Adjusted EBITDA of $823 million, down from $832 million last year, but increased approximately 5% on a same-store basis [18][19] - The infrastructure services segment generated full-year Adjusted EBITDA of $436 million, down from $606 million last year, impacted by the sale of operations and lower terminal deliveries [19][20] Market Data and Key Metrics Changes - North America is benefiting from easing rates, steady consumer spending, and resilient labor markets, although growth remains challenging in certain end markets [10][11] - In Europe, conditions are more challenging with slower activity in cyclical and industrial end markets, but there are early signs of improvement supported by fiscal spending and stabilizing energy prices [11] Company Strategy and Development Direction - The company is close to completing a corporate reorganization to become a single, newly listed corporation, which is expected to improve trading liquidity and increase index-driven demand for shares [5][6] - The strategy focuses on operational excellence and capital recycling, with significant investments in growth acquisitions and stock repurchases [4][8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market backdrop, highlighting that the trading price is 50% higher than a year ago but still at a discount to NAV [8] - The company is well-positioned with capital and capabilities to continue building value in 2026, with a strong focus on operational improvements and cash generation [9][15] Other Important Information - The company ended the year with approximately $2.6 billion of pro forma liquidity at the corporate level, providing significant flexibility for growth and capital allocation [20][21] - The company has repurchased approximately $235 million of its units and shares, remaining committed to completing its $250 million buyback program [21] Q&A Session Summary Question: Clarios performance and monetization - Management indicated that Clarios is generating significant free cash flow and the 45X tax credits will enhance cash for reinvestment, with various options for returning cash to shareholders [23][24] Question: Scientific Games earnings trajectory - Management noted that while there is a strong pipeline for Scientific Games, it takes time for earnings to materialize, and they remain cautiously optimistic about the business [26][27] Question: Balance between reducing leverage and pursuing growth - Management emphasized that growing EBITDA will naturally reduce leverage, and they are focused on growth while managing debt levels [28][29] Question: Update on CDK operations - Management reported strong renewal activity and a focus on stabilizing churn through modernization and customer relationship solidification [42][43] Question: Deployment of capital and acquisitions - Management expressed confidence in continuing the momentum of acquisitions into 2026, with several opportunities being explored [45]

Financial Data and Key Metrics Changes - The company generated full-year Adjusted EBITDA of $2.4 billion, a decrease from $2.6 billion in 2024, primarily due to lower ownership in three businesses following partial sales [16] - Adjusted EFO for the year was $1.2 billion, which included $161 million of net gains during the year [16] - Excluding tax credits and the impact of acquisitions and dispositions, Adjusted EBITDA was $2.1 billion, compared to $2 billion in the prior year [16] Business Line Data and Key Metrics Changes - The industrial segment generated full-year Adjusted EBITDA of $1.3 billion, up from $1.2 billion last year, with a 10% increase in performance excluding acquisitions and tax benefits [17] - The business services segment generated full-year Adjusted EBITDA of $823 million, slightly down from $832 million last year, but increased approximately 5% on a same-store basis [18] - The infrastructure services segment generated full-year Adjusted EBITDA of $436 million, down from $606 million last year, reflecting the sale of offshore oil services and a partial interest in work access services [19] Market Data and Key Metrics Changes - North America is experiencing stable conditions with easing rates, steady consumer spending, and resilient labor markets, although growth remains challenging in certain end markets [10] - In Europe, conditions are more challenging with slower activity in cyclical and industrial end markets, but there are early signs of improvement supported by fiscal spending and stabilizing energy prices [11] Company Strategy and Development Direction - The company is close to completing a corporate reorganization to become a single, newly listed corporation, which is expected to improve trading liquidity and increase index-driven demand for shares [5] - The strategy focuses on operational excellence and capitalizing on de-globalization and AI trends to reshape supply chains and enhance business performance [6][8] - The company aims to continue compounding value for shareholders through capital recycling, growth acquisitions, and stock repurchases [4] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market backdrop, noting that the trading price is 50% higher than a year ago but still at a discount to NAV [8] - The company is well-positioned with capital and capabilities to continue building value in 2026, with a strong focus on operational efficiency and cash generation [9] Other Important Information - The company ended the year with approximately $2.6 billion of pro forma liquidity at the corporate level, providing significant flexibility for growth and capital allocation [20] - The company has repurchased approximately $235 million of its units and shares, remaining committed to completing its $250 million buyback program [20] Q&A Session Summary Question: Regarding Clarios' performance and tax credits - Management indicated that Clarios is generating significant free cash flow, and the 45X tax credits will enhance cash generation, providing optionality for shareholder distributions [22] Question: On the timing of production tax credits - Management stated that the application for tax credits is being processed, and they are optimistic about qualifying and receiving the credits in due course [23][24] Question: On Scientific Games' earnings trajectory - Management expressed cautious optimism about Scientific Games, noting a strong market position and a positive outlook, but emphasized that earnings growth may take 6-12 months to materialize [26] Question: On the balance between reducing leverage and pursuing growth - Management highlighted that growing EBITDA will naturally reduce leverage levels, and they are focused on growth while managing free cash flow for debt reduction or other purposes [29] Question: On the buyback program and stock valuation - Management confirmed their commitment to the buyback program and will continue to be opportunistic in repurchasing shares at discounts to intrinsic value [39]

Core Insights - Nielsen and Roku have expanded their long-term strategic partnership to incorporate Roku data into Nielsen's advanced campaign measurement and outcome solutions [1][2] - This partnership aims to provide advertisers with a more accurate view of audience engagement across streaming services, leveraging Roku's data [2][5] Group 1: Partnership Details - The expanded partnership will utilize Roku's large-scale TV data for Nielsen's Big Data + Panel measurement, enhancing accuracy for both Linear and Streaming Ratings [2][4] - Roku will gain access to Nielsen's Streaming Platform Ratings, which analyze audience engagement with subscription and ad-supported services [3][6] Group 2: Market Insights - Approximately 70% of TV streaming hours are now ad-supported, highlighting the growth of ad-supported services like The Roku Channel, which is the second-largest streaming app by ad-supported TV time [3][5] - Nielsen measures over 1 trillion minutes of viewing across all streaming apps in a typical month, reinforcing its position as a leader in streaming TV measurement [4][7] Group 3: Strategic Goals - The partnership aims to improve the TV advertising system by focusing on interoperability and performance, providing advertisers and publishers with best-in-class measurement and insights [6][5] - Nielsen's innovations, including accreditation for its Big Data + Panel measurement, are set to enhance the effectiveness of advertising transactions [7]

Core Insights - Clear Channel Outdoor has secured a new 10-year contract with the Metropolitan Washington Airports Authority, starting March 1, 2026, to enhance advertising at Washington Reagan National Airport and Washington Dulles International Airport [1][4] - The agreement aims to evolve the existing advertising program, which has already seen significant revenue growth, and to integrate digital media advancements to improve passenger experiences [2][3][4] Advertising Strategy - The new contract emphasizes a commitment to achieving 85% digital advertising coverage within two years, introducing innovative digital formats such as LumiGlass and Prism360 digital columns [5] - Clear Channel Outdoor's advertising program has attracted major global brands, including Meta, Samsung, and Barclaycard, indicating its effectiveness in the airport advertising space [4] Market Trends - Recent research by Clear Channel Outdoor, conducted by Nielsen, highlights the effectiveness of airport advertising in driving actions among frequent flyers, particularly as air travel continues to surge [6][7] - The study underscores the unique position of airport media in delivering brand awareness and conversion, especially in a landscape characterized by increased traveler mobility and digital connectivity [7] Company Overview - Clear Channel Outdoor Holdings, Inc. is a leader in the out-of-home advertising industry, focusing on innovation through digital billboards and data analytics to enhance advertising effectiveness [8]

With viewership data underpinning $60 billion in television advertising, an industry behemoth is suddenly facing questions about whether it is “bringing an abacus to an AI fight.” https://t.co/qi3BCkemk5Illustration: Samantha Lee for Forbes; Photos: Nielson; Videoamp; Dny59, Thomaslenne, Pioneer111, Nadya So via Getty Images ...

RT Bloomberg Live (@BloombergLive)In 2025 the future of what we watch on our screens is up to anyone to decide. At #BloombergScreentime we unpack the future of media and entertainment alongside Supporting Sponsor @nielsen.https://t.co/XSbvaWPBso https://t.co/Cagof54Cxo ...

Media & Entertainment Industry Trends - The future of media and entertainment is open for anyone to decide in 2025 [1] - Bloomberg Screentime unpacks the future of media and entertainment [1] Event Information - Bloomberg is hosting BloombergScreentime to discuss the future of media [1] - Nielsen is a Supporting Sponsor of BloombergScreentime [1]