Verizon May Sell or Spin Off Its Phone Book Business

Summary

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NEW YORK (AP) -- Verizon Communications Inc. may sell or spin off its phone book and online directories business to raise cash as it nears completion of its purchase of MCI Inc. and invests billions in rewiring its telephone network to deliver cable TV and speedier Internet access.

The company, laden with long-term debts of $34.4 billion, disclosed late Sunday it was reviewing alternatives for Verizon Information Services. The unit provides sales, publishing and other services for 1,750 directory books, including 1,200 Verizon-branded publications with a circulation of 121 million copies.

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Extract

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Verizon May Sell or Spin Off Its Phone Book Business

While Verizon did not say how much VIS might be worth, published rep...

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