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 (NYSE:NLSN). The stock replaces big telecom operator Sprint Nextel (NYSE: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.
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