The parent company of Billboard magazine is purchasing the music trade publication's primary competitor, Radio & Records, officials announced Thursday (July 6). Both companies compile weekly charts based on radio airplay in a variety of formats and report business news involving the music and broadcasting industries. VNU, a global information and media company with headquarters in New York and the Netherlands, is expected to complete the purchase by Aug. 1. VNU's other publications include The Hollywood Reporter, Adweek, Brandweek and Mediaweek. R&R is headquartered in Los Angeles. Michael Marchesano, president/CEO of VNU Business Media and Nielsen Entertainment emphasized that R&R "will continue to grow as a vibrant brand" as it is added to VNU's other music resources that include the Billboard Information Group, Nielsen BDS (which monitors radio airplay) and Nielsen SoundScan (which tracks retail sales of music). Financial terms of VNU's acquisition of R&R have not been disclosed.