Verizon spinoff of directories business, Idearc, goes public
Tuesday, November 21, 2006
Press release from the issuing company
Idearc Inc. (NYSE:IAR), one of the nation's largest providers of yellow and white pages directories and related advertising products, begins trading today, Nov. 20, with Katherine (Kathy) J. Harless, Idearc President and Chief Executive Officer, ringing The Opening Bell(SM) on the New York Stock Exchange.
"Idearc is a great company with a great future," said Harless. "We are a media company with a multi-platform portfolio that truly places us in a category onto ourselves." Idearc Connects Buyers with Sellers Idearc (pronounced EYE-bee-dork) has a multi-platform of products, including Verizon Yellow Pages and smaller-sized portable Verizon Yellow Pages Companion Directories, SuperPages.com(R) (www.superpages.com), SuperPages Mobile(TM), Solutions At Hand(TM) magazine and Solutions Direct(TM) direct mail packages.
The company provides sales, publishing and other related services for more than 1,200 distinct directory titles in 35 states and the District of Columbia, with a total 2006 expected circulation of approximately 136 million copies. In addition, Idearc is the largest publisher of Hispanic directories in the United States. SuperPages.com, the expert in local search with more than 2 billion searches for two consecutive years, includes a comprehensive list of businesses in the United States - totaling more than 17 million.
SuperPages.com enables consumers who are ready to buy to find local and national businesses and compare goods and services of merchants. SuperPages Mobile provides local search functionality for wireless subscribers. Solutions At Hand is a local, full-color, glossy go-to resource publication geared toward ready-to-buy homeowners with disposable income. It is an editorial style magazine featuring exclusive ad space and "coffee table" appeal. Solutions Direct offers full-color direct mail packages allowing direct communication with consumers. Idearc is based in the Dallas/Ft. Worth area and employs approximately 7,300 individuals nationally.
Idearc Board of Directors and Management Team Announced In addition to serving as President and CEO, Harless will be on the Idearc board of directors. New Idearc board of directors includes the following leaders with national and international experience in telecommunications, interactive and entertainment services and print, video and online media companies.
-- John J. Mueller, serves as Chairman of the Idearc Board. He is a business consultant and served as Chief Executive Officer and President of Valor Telecommunications LLC from 2004 to 2006. Mueller spent 23 years at Cincinnati Bell Inc.
-- Donald B. Reed, who also is on the board of directors of CSG Systems International Inc.; Intervoice, Inc.; and St. Lawrence Cement Group, Inc. Reed previously served as Chief Executive Officer of Cable and Wireless Global, a unit of Cable & Wireless plc (UK). Reed spent for 30 years at New England Telephone, NYNEX Corporation and Bell Atlantic Corporation, including serving as President of NYNEX's directory operations.
-- Stephen L. Robertson, a business consultant. He served as President of Convergys International, a unit of Convergys Corporation, from 2002 to 2005. Convergys is a global outsourcing solutions company. Robertson spent 22 years with Cincinnati Bell Corporation and Southwestern Bell Corporation.
-- Thomas S. Rogers, President and Chief Executive Officer of TiVo, Inc. He also serves on the board of directors of TiVo Inc., a provider of television-based interactive and entertainment services. Rogers previously served as the Chairman and Chief Executive Officer of Primedia, Inc., a print, video and online media company. He also held positions with NBC.
In addition to Harless, Idearc's experienced management team includes:
-- Eric D. Chandler, President - Internet
-- Andrew (Andy) Coticchio, Executive Vice President and Chief Financial Officer
-- Frank P. Gatto, President - Northeast
-- W. Scott (Scott) Hanle, President - West and Independent
-- Sandra L. (Sandy) Henjum, President - Southeast and Central
-- Samuel D. (Dee) Jones, Senior Vice President - Investor Relations
-- Scott B. Laver, President - Mid-Atlantic
-- William G. (Bill) Mundy, Executive Vice President and General Counsel and Secretary
-- Michael D. (Mike) Pawlowski, Senior Vice President and Chief Marketing Officer
-- Georgia R. Scaife, Senior Vice President - Human Resources
-- Janet P. Stevens, Senior Vice President - Public Relations "Idearc means energy, creativity and a clear sense of purpose," Harless added. "This company is about resourcefulness, vitality and an entrepreneurial spirit that redefines us in the marketplace."
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