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

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