 Will YP Holdings Thrive Under New Ownership?
Charles Laughlin, 6/14/2012
EXECUTIVE SUMMARY:
YP Holdings is the new incarnation of AT&T Advertising Solutions and AT&T Interactive following the completion of the sale of AT&T’s directory assets to the private equity firm Cerberus Capital Management The new entity, based in Atlanta, has made some significant decisions right off the bat. It named AT&T Interactive CEO David Krantz as CEO of the new company and consolidated the Advertising Solutions and Interactive operations. We anticipate a wave of early cost cutting, followed by a series of strategic moves that might include new products or tuck in acquisitions related to key product areas (e.g., verticals, eCRM platforms and so on). The big question is whether Cerberus will use the YP Holdings acquisition as a platform to roll up some or all of its incumbent rivals, including Dex One and SuperMedia. YP Holdings has content distribution and reseller agreements with both companies but is not speaking publicly about any possible rollup plans.
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