Wednesday, May 9, 2012

AT&T Completes Advertising Unit Sale

Dallas-baesd AT&T said late Tuesday that it has completed its sale of its AT&T Advertising Solutions and AT&T Interactive units to private equity firm Cerberus Capital Management, L.P. The deal was worth $750M in cash, a $200M note, and a 47 percent equity interest in the new firm, YP Holdings LLC. The deal had originally been announced in early April.