AT&T* announced today that an affiliate of Cerberus Capital Management, L.P. (Cerberus) has agreed to acquire AT&T Advertising Solutions and AT&T Interactive. As part of the transaction, AT&T will receive a 47-percent equity interest in the new entity, YP Holdings LLC (YP).
YP will include:
- Approximately 1,200 The Real Yellow Pages ® print directory titles reaching about 150 million homes and businesses in 22 states;
- YP.com, a top 40 website according to a leading global digital measurement firm;
- The YP SM Local Ad Network, which includes more than 300 mobile and online publisher websites nationwide providing digital reach to more than 71 million monthly unique visitors; and
- The YPmobile ® app, which allows users to search local businesses from their mobile devices.
The business units generated approximately $3.3 billion in revenues in 2011. Among other agreements, YP has agreed to honor existing union contracts.
“This transaction makes strategic sense for both AT&T and Advertising Solutions,” said José Gutiérrez, president and CEO of AT&T Advertising Solutions. “It enables AT&T to focus on its core strategy of leadership in wireless, IP, cloud- and application-based services. At the same time, it gives our advertising customers, partners and developers continued access to strong advertising and search innovation and performance.”The transaction includes assets of AT&T Advertising Solutions, which delivers sales and customer support, and AT&T Interactive, which conducts interactive product development. It does not include the recently formed AT&T AdWorks, a New York-based operation that sells advertising offerings across 3-screen platforms (online, mobile and TV). “YP will continue to deliver the industry-leading service and products our customers and partners expect from us,” said David Krantz, president and CEO of AT&T Interactive. “And everyone will work hard to make the transition seamless for the millions of consumers and thousands of advertisers, developers, publishers and resellers using our services.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV