I continue to hear rumors and rumblings of big changes in the yellow pages industry, and it seems like almost anything could happen in terms of restructuring, mergers and acquisitions. I just learned of a layoff at Yellowbook over the weekend — according to the news report they are saying they’ll cut 70 jobs, nationwide.
There were very recent rumors that Yellowbook might be sold by Yell company, and that it could be an acquisition target for some other major companies. The layoffs are further underscoring unrest and change at the company, so there could be something to the M&A rumors. Some possible buyers have been theorized, including Google and Yellow Pages Group.
I’ve also heard AT&T’s name floated about as potentially interested in Yellowbook — they keep getting whispered about as a possible suitor for buying some of the big YPs. As I reported earlier, AT&T might acquire Dex One and/or SuperMedia.
My theorizing of a “trifecta merger” for AT&T/Dex/Superpages smacks more than a bit of pie-in-the-sky wishful thinking for faltering yellow pages companies, but could we go even farther out there and ask if AT&T might be doing a giant roll-up strategy that brings Yellowbook into the mix as well? (more…)
Double Bankruptcy Required for Dex One / SuperMedia Yellow Pages Merger?!?
Thursday, October 25th, 2012In nothing short of earth-shattering news, it was reported that the Dex One – SuperMedia yellow pages companies merger is apparently on the rocks due to the companies’ creditors being unwilling to accept financial terms. Worse yet, the U.S. Securities & Exchange Commission filing states that the companies might have to restructure under a Chapter 11 bankruptcy in order to make the merger deal work!
Quoted from the Form 8-K filed by Dex One:
If you haven’t kept up with recent years’ history, the surreal part of this is that both companies already emerged from Chapter 11 bankruptcy restructuring not that long ago. In June of 2009, R. H. Donnelley Company filed for bankruptcy, and Dex One rose from its ashes in February of 2010. Idearc Media, earlier known as Verizon Information Services, had been spun off from Verizon with an irresponsibly high debt load, and as a result filed for Chapter 11 bankruptcy in March of 2009, later to emerge from the rubble as SuperMedia in December of 2009.
The Triangle Business Journal headline reports that bankruptcy is a possibility for Dex One, perhaps because the filing states that “Dex One recognizes…”. However, the wording is such that it clearly states that possible (more…)
Tags: bankruptcy, chapter 11, Dex One, M&A, mergers, SuperMedia, Superpages, Yellow Pages
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