logo
Share SHARE
FONT-SIZE Plus   Neg

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

AT&T Inc. (T) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toy maker Hasbro Inc. (HAS) reported a profit for the fourth-quarter 2015 that grew about 3.5% from last year. Quarterly net revenues increased 13% from the prior year. Both earnings per share and revenue for the quarter beat analysts' expectations. Healthcare plan provider Centene Corp. (CNC) has been executing on its strategic objectives, including margin expansion. With its growing portfolio of integrated health solutions, Centene has a strong presence in government-sponsored healthcare, the highest growth category in the industry. A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The...
comments powered by Disqus
RELATED NEWS
Trade T now with 
Follow RTT