AT&T (T) is reportedly looking to sell a majority stake in Yellow Pages business, which is...

|By:, SA News Editor

AT&T (T) is reportedly looking to sell a majority stake in Yellow Pages business, which is being steadily decimated by online competition, to P-E firm Cerberus Capital in a deal that would value the business at ~$1.5B. It's added AT&T would maintain a "substantial minority stake," and that a deal could be reached this month. AT&T's directory business, which includes Yellow Pages, saw its revenue fall 16% last year to $3.29B.