MediaNews Daily’s Joe Mandese writes about unexpected revelations at the Advertising Research Foundation’s “Nielsen Boardroom” meeting…

The disclosure was a stark reminder for many in the room that the billions of dollars in advertising buys negotiated during the 2007-08 upfront buying season were done so on the basis of unaccredited ratings data, and that those buys would also be posted with unaccredited data for a good chunk of the season. As vexing as that might seem for some, others apparently have no qualms. Early in the decision-making process that led to a consensus around C3 ratings as the new market currency, executives at Mediaedge:cia asserted that market currency data need not be accredited. Mediaedge:cia’s Lyle Schwartz reiterated that position during Thursday’s meeting. Independent of the meeting, Carat Senior Vice President-Director of Programming Shari Anne Brill Thursday afternoon issued a report officially endorsing C3 ratings as the new market currency. Carat’s endorsement followed a similar proclamation by Magna Global’s Steve Sternberg.

The endorsements are unprecedented, because this is the first time in the recent history of television advertising marketplace that Madison Avenue has bought and posted its broadcast and cable network TV time on the basis of unaccredited ratings.