Idearc's fingers walk to Chapter 11

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.

For more:
- The Dallas Morning News has this story

Related articles
Maybe the directories business has life left in it after all
SureWest Communications sold its directories unit in 2007

Suggested Articles

Various Indian media outlets are reporting that Microsoft is mulling a $2 billion stake in Jio Platforms.

NEC Corporation of America announced on Wednesday the general availability of cloud-based unified communications and contact center solutions.

According to a report by Omdia, off-premise cloud service providers (CSPs) are experiencing mixed results due to COVID-19.