Issue: Does First
U.S. LEC Affiliate Sale Indicate a Trend?
News: In the
first sale of an incumbent local exchange carrier-affiliated Yellow Pages
publisher to a private buyer, Broadwing, owner of Cincinnati Bell and
its Yellow Pages subsidiary, announced that a majority share of Cincinnati
Bell Directory (CBD) would be sold to Spectrum Equity Investors for $345
million. When the deal closes, a new company will be formed: CBD Media.
The new entity will be majority owned by Spectrum, operated by existing
CBD management and led by President and Chief Executive Officer Doug Myers.