Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

AT&T To Sell Advertising Solutions, Interactive Business Units To Cerberus

AT&T Inc. (T: Quote) said that an affiliate of Cerberus Capital Management, L.P. has agreed to acquire AT&T Advertising Solutions and AT&T Interactive.

As part of the deal, AT&T will receive a 47-percent equity interest in the new entity, YP Holdings LLC. YP will include around 1,200 The Real Yellow Pages print directory titles reaching about 150 million homes and businesses in 22 states, YP.com, the YPSM Local Ad Network and the YPmobile app.

For the business units, AT&T will receive approximately $750 million in cash, subject to adjustment primarily related to timing of closing, a $200 million note and a 47-percent equity interest in YP. AT&T expects a minimal effect on 2012 earnings from the transaction and does not expect to record a material gain or loss on the transaction.

The deal 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.

The deal is anticipated to close in mid-year 2012.

Register
To receive FREE breaking news email alerts for AT&T Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Here is a list of interesting stocks to watch on December 19. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed below and many more have been researched already, and... Shares of OvaScience Inc. (OVAS) have had a strong run in 2014, rising over 370 percent year-to-date. And that's indeed a very impressive return delivered by the fertility treatment company, which suffered a setback last year when it had to suspend a U.S. trial of its flagship fertility treatment due to regulatory concerns raised by the FDA. Nike Inc., the world's largest athletic shoes and apparel maker, said Thursday after the markets closed that its second quarter profit rose 23% from last year, helped by higher revenue and improved gross margin. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.