Valcon Acquisition, the company controlled by an equity group of several investment companies, has moved ahead with its purchase of Dutch media conglomerate VNU, parent of Nielsen Media Research, reports the Tampa Bay Business Journal. The companies announced that Valcon had acquired more than 78 percent of the company through share acquisition in what is expected to be a nearly $10 billion deal.

VNU's assets include Nielsen, AdWeek, Billboard and the Hollywood Reporter.

Valcon represents AlpInvest Partners, The Blackstone Group, The Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts & Co., and Thomas H. Lee Partners. Valcon has until June 9 to acquire the rest of VNU's shares.