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Ibope buys off ratings competish

Latin service pays $4 mil for rival Mercados y Tendencias

BUENOS AIRES — Latin American ratings service Ibope has paid a reported $4 million to buy out Argentine rival Mercados y Tendencias.

Ibope operates in 11 countries and is controlled 50% by Brazil’s Montenegro Group, 31% by Brazil’s Kantar Group and 11% by A.C. Nielsen.

In Argentina, Ibope has $12 million in revenues and Mercados y Tendencias has $2 million in revenues.

Both ratings services have been criticized for faulty methodology, but Ibope has recently tried to address the problem by adding additional homes to its survey.

Commenting on the buyout, Jorge Strika, general manager of Argentine broadcaster Artear, said, “We are not happy about the monopoly.”