BUZZ-Rentrak Corp: Stock hits record high after WPP takes stake

Thu, 09th Oct 2014 18:27

** Viewership rating provider's shares rise as muchas 16.9 pct to a record high of $75.39

** Advertising giant WPP Plc to buy a 16.7 percentstake in the company for $56 million

** Rentrak to buy WPP unit Kantar Media business's U.S.television measurement business for $98 million in stock, whichis worth about 12.4 pct of its total shares outstanding

** Deal is expected to add about $7 million to $9 million toRentrak's revenue in fiscal 2016

** Stock is among the top percentage gainers on Nasdaq

** Up to Wednesday's close, stock had risen about 70 pctthis year (Reuters Messaging:arathys.nair.thomsonreuters.com@reuters.net)

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