Verizon Communications phone directory spin-off Idearc is having the same sort of trouble that many publishers of traditional print publications, such as newspapers, are having: Online sales are good, but are not good enough or growing fast enough to off-set the plummeting losses of the print product. That's the driver behind Idearc's bankruptcy protection filing this week.
The company is $9 billion in debt, although much of it came along as part of the spin-off from Verizon, and the company actually has been profitable since the spin-off back in 2006. Company officials expect to file a reorganization plan within 30 days, and they argue that the Yellow Pages business still has great potential--perhaps just not as printed on actual pages.
- The Dallas Morning News has this story
Maybe the directories business has life left in it after all
SureWest Communications sold its directories unit in 2007