Factorization of functions in generalized Nevanlinna classes

For functions in the classical Nevanlinna class analytic projection of $\log |f(e^{i \theta })|$ produces $\log F(z)$ where $F$ is the outer part of $f;$ i.e., this projection factors out the inner part of $f$. We show that if $\log |f(z)|$ is area integrable with respect to certain measures on the disc, then the appropriate analytic projections of $\log |f|$ factor out zeros by dividing $f$ by a natural product which is a disc analogue of the classical Weierstrass product. This result is actually a corollary of a more general theorem of M. Andersson. Our contribution is to give a simple one complex variable proof which accentuates the connection with the Weierstrass product and other canonical objects of complex analysis.