Dex Media (NASDAQ:DXM) is one of several companies that is attempting to manage a transition from a dying legacy yellow pages business towards a digital local media advertising business. Yellow Media ((OTC:YLWDF)), Solocal Group, Eniro AB (OTC:ENIRF) and Hibu Plc. (OTCPK:YELGF) are in comparable situations. Investors in the equity of any of these situations are making the following assumptions:
It is unclear whether either assumption will prove to be valid in the case of Dex Media.
The legacy print business was...
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