• by Joe Mandese  @mp_joemandese, December 21, 2011

Online audience measurement rivals comScore and Nielsen this morning announced a settlement of ongoing patent disputes, resulting in a “cross-licensing agreement,” and giving Nielsen $19 million in comScore stock.

Under the terms of the settlement, the companies said that comScore will acquire ownership of the “four Nielsen families of patents,” which include a portfolio of both U.S. and international patents for online audience measurement methods.

comScore, meanwhile, has granted Nielsen worldwide licenses for its “families of the four patents.”

Both parties agreed not to bring any patent action against the other for the next three years.

As part of the settlement, Nielsen said it agreed to hold its newly acquired comScore shares for a minimum of one year.

Nielsen President of Media Products and Advertiser Solutions Steve Hasker stated that the settlement “creates an incentive for our companies to explore potential forms of collaboration.”

comScore President-CEO Magid Abraham added that it signals “a new phase of cooperation” between the two companies, but did not elaborate on what it might lead to.