Idearc Media

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Idearc, Inc.
Type Public (NYSE: IAR)
Founded 2006 (from Verizon)
Headquarters Dallas, TX, USA
Key people Frank Gatto, Interim CEO and Executive Vice President of Operations
Samuel D. Jones, acting CFO, SVP of investor relations
Michael D. Pawlowski, SVP/CMO
Industry Publishing
Revenue $3,600 million USD (2004)
Employees 7,400 (2004)
Website idearc.com

Idearc Media (pronounced EYE-dee-arc) is a spinoff of Verizon's print and online yellow pages business. Formerly Verizon Information Services, it is based in Dallas, TX with a corporate office located at 2200 West Airfield Drive, DFW Airport, TX 75261. The company employs about 7,100 people with revenues of $3.5 billion. It trades on NYSE under the ticker symbol IAR.

Idearc Media is home to Superpages.com and publisher of the Verizon Yellow Pages. It also offers "Solutions Direct" full-color direct mail postcards and "Solutions at Hand" direct mail magazines.

The company continues to diversify its product set by moving its focus from a "print-centric" business to a "multi-platform" business, including the 2007 acquisition of InfoSpace Inc.’s directory assets and the LocalSearch.com URL.[1]

While its local search site Superpages.com continues to grow—achieving 24 percent growth and 4.8 billion network searches in 2007—the yellow pages directory business still brings in the majority of the company’s revenue.[2]

According to data released by the Yellow Pages Association, yellow pages usage grew to 17.2 billion searches in 2007, up from 16.7 billion in 2006. Notably, print usage remained stable with 13.4 billion print yellow pages references—the same as 2006.[3]

Although print usage appears stable, print revenues have been declining in recent years. In fact, Idearc projects a "mid-single digit" decline in revenues and operating margins for 2008.[4]. Idearc stock has been under continued pressure as well, having fallen from an intra-day high of $38.00 on August 3rd, 2007 to a closing low of $3.83 on April 2, 2008.

This decline in share value may reflect investors concerns about Idearc's ability to successfully transition to a "multi platform" media company. Moreover, concerns about management leadership, ongoing adverse cyclical and secular trends are viewed to be contributing to revenue and operating margin declines for the foreseeable future.[5]

[edit] External links

[edit] References

  1. ^ Idearc Inc. 2007 Annual Report
  2. ^ Idearc Inc. 2007 Annual Report
  3. ^ February 2007, http://ypassociation.org
  4. ^ 2:01p ET March 27, 2008 (MarketWatch)
  5. ^ Standard & Poor's stock report (IAR) March 29, 2008
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Spinoffs of American Telephone & Telegraph
Second-Generation Spinoffs
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