Local Insight Media LP, a publishing portfolio company of Welsh Carson Anderson & Stowe, has agreed to acquire a collection of online directories from L.M. Berry & Co., a subsidiary of AT&T. No financial terms were disclosed.
PRESS RELEASE
AT&T and Local Insight Regatta Holdings, Inc. today announced the execution of a definitive agreement for Local Insight to acquire the assets of The Berry Company's Independent Line of Business (ILOB) from L.M. Berry and Company, a subsidiary of AT&T Inc.
The transaction will combine two industry-leading organizations responsible for selling, producing and distributing nearly 700 print and online directories in
The ILOB provides an integrated array of directory services, including sales, marketing and sales support and ad design and composition services, to more than 80 Yellow Pages publishers throughout the country, including ACS Media, CBD Media and HYP Media. ILOB customers can expect a continued commitment to the highest levels of service throughout the transition period and under Local Insight ownership.
“We have the opportunity to formally combine Local Insight's strategy and entrepreneurial approach with the ILOB's high-performing sales channel, and we can leverage significant opportunities for greater innovation and optimization across our growing platform,” said Scott Pomeroy, director of Local Insight Regatta Holdings. “Together, we can offer our customers expanded advertising solutions, transforming our role from a print directory publisher to a local search innovator.”
“This sale will enable AT&T to enhance our focus on a key asset
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