July 28, 1999 |
R.H. Donnelley Corp., the largest independent marketer of yellow pages advertising, restated its earnings for 1997, 1998 and part of 1999 to change the way it records revenue for some directories in its agreement with Sprint Corp. R.H. Donnelley generates revenue from commissions on the sale of phone directory advertising and a share of income from the Sprint partnership, which publishes the directory. R.H. Donnelley restated 1998 earnings at $1.38 a share, and 1997 earnings at $1.
August 31, 2002 |
Thomas H. Lee Partners, Spectrum Equity Investors and R.H. Donnelley Corp. are the remaining bidders for Sprint Corp.'s telephone-book business, people familiar with the situation said. The companies have offered $1.75 billion to $2 billion for the business, and the winning bidder may be announced as early as next week, the people said. Sprint's shares Friday slipped 40 cents to close at $11.60 on the NYSE. They have fallen 42% this year.
June 24, 2002 |
Qwest Communications International Inc. has postponed the final bidding deadline for its telephone directory business to allow buyers more time to develop proposals to acquire the unit in parts, sources familiar with the situation said. Binding bids for the operation, which could top $9 billion, were initially due today, but Qwest will now accept final offers up until July 12, several sources said.
October 4, 2005 |
Phone directory company R.H. Donnelley Corp. said Monday that it agreed to buy Dex Media Inc. for $4.2 billion in cash and stock, which would create the No. 3 directory publisher in the United States. The deal, which is expected to close in the first quarter, comes after several years of big change in the directory publishing business and would create a company with business in 28 states and more than 600 directories with a circulation of 73 million.
November 23, 2002 |
Texas-based homebuilder D.R. Horton Inc. sold $215 million of notes Friday, tapping a rise in demand for riskier debt with higher yields that made this the busiest week for corporate bond sales since March. The offering has ratings below investment grade and is one of about nine other so-called junk bond issues, totaling $2.1 billion, that have been completed this week.
July 8, 2006 |
Verizon Communications Inc. took the first step Friday toward shedding its phone directory business, a move that reflects its increasing focus on Internet and wireless communications. Verizon said it registered a possible spinoff of its print and Internet Yellow Pages business with the Securities and Exchange Commission. Analysts estimate the business to be worth $13 billion to $17 billion.