I found out today that a private equity firm has purchased the majority of the Yellow Pages from AT&T. Which prompts me to ask: when was the last time you used the yellow pages? A pay phone? In a similar vein, Google And The Death Of Getting Lost. In 10 years (2001 to 2011) wireless penetration in the USA went from ~40 percent to ~100 percent. This is the difference between arranging a rendezvous ahead of time in precise detail, and being confident that you can just end it with “I’ll call you.
AT&T reached a deal to sell a majority stake in Yellow Pages to private equity top-dogs Cerberus Capital Management, a deal that values the business at about $1.42 billion in equity. Read Post
The private equity firm Westbrook Partners has thrown in the towel and says it will sell the New Era Estate, a London housing block whose tenants protested its plans to raise rents. Read Post