Tuesday, October 17, 2006

Verizon to Spin-Off U.S. Directories into "Idearc"

Verizon's Board of Directors approved the proposed spin-off of the carrier's U.S. print and Internet yellow pages directories company to its stockholders. The spin-off will result in a new public company called Idearc (pronounced EYE'- dee-ark).

Verizon currently expects that a "when issued" public market for Idearc common stock will begin on or about Nov. 2 on the New York Stock Exchange (NYSE) under the symbol "IAR wi." Following the spin-off, Idearc common stock will trade under the symbol "IAR."http://www22.verizon.com/

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