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
Specialty drugmaker Horizon Pharma plc (HZNP) on Friday managed to redomicile itself as an entity incorporated in Ireland following the completion of its $660 million acquisition of Vidara Therapeutics International plc. The deal will help it avoid paying the high rate of U.S. corporate taxes. The... Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State.
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.