The research giant says the transaction has been approved by the boards of both companies and is subject to customary closing conditions, including regulatory review. With Arbitron’s assets, Nielsen says it intends to further expand its “Watch” segment’s audience measurement across screens and forms of listening.

Nielsen CEO David Calhoun (pictured) said: “Arbitron will help Nielsen better solve for unmeasured areas of media consumption, including streaming audio and out-of-home. The high level of engagement with radio and TV among rapidly growing multicultural audiences makes this central to Nielsen’s priorities.”

Steve Hasker, Nielsen president of global media products and advertiser solutions, added: “These integrated, innovative capabilities will enable broader measurement of consumer media behavior in more markets around the world. We will also bring local clients greater visibility to empower more precise advertising placement and campaign effectiveness.”

Arbitron reported revenue of $445m for the 12 months ended September 30 and recently revealed that chief operating officer Sean Creamer is to replace William Kerr as president and CEO of the media measurement firm on 1 January.

William Kerr, the outgoing president and CEO of Arbitron, said: “By combining Nielsen’s global capabilities and scale with Arbitron’s unique radio measurement and listening information, advertisers and media clients will have better insights into consumer behavior and the return on marketing investments.”