Nielsen Replaces Sprint on the S&P 500

McGraw-Hill's S&P Dow Jones Indices has made a change in one of its iconic products. After the close of trading on July 8, the S&P 500 will be home to media research conglomerate Nielsen Holdings (NLSN). The stock replaces big telecom operator Sprint Nextel (S).

Nielsen Holdings will also be added to the index's research and consulting services sub-industry category.

S&P Dow Jones Indices said the reason for the change is Sprint Nextel's looming merger with Japan's SoftBank. Following that, its public float will probably drop below the 50% required for stocks to remain on the index.