YP℠ Announces Intent to Separate Businesses to Drive Deeper Product Focus
YP, the leading local marketing solutions provider built on a 100+ year history as the go-to destination for consumers looking to connect with local businesses, announces the intent to separate its digital advertising and print directory businesses to create two companies. YP, and the newly formed Print Media LLC, will operate independently with dedicated teams focused on driving innovation across digital and print consumer properties and advertising products. Both companies will continue to serve existing and new customers leveraging the YP sales organization, as they do today.
Under Chief Executive Officer Jack Freker, who most recently served as the senior executive at YP overseeing the print directory business, Print Media will package, publish and distribute the nearly 90 million YP-branded print directories distributed annually in the United States. The print directory business will continue to be focused on innovation and advertiser reach, and is expected to release additional product enhancements in 2015.
“We believe that the separation of the print directory business from YP will drive benefits for our consumers who rely on the print directory to connect with local businesses, and for YP’s customers that advertise across multiple platforms to grow their businesses. With distinct leadership, Print Media will be best positioned to focus on ‘best in class’ print advertising solutions through dynamic enhancements in our print directory product, unique investments in related print medium and a more focused strategy,” said new Print Media CEO Jack Freker.
While the two companies will operate under separate leadership, YP and Print Media will work closely together through a strategic sales agency agreement that uses YP to continue selling digital and print advertising in the same manner as they had been doing prior to the planned formation of the new company.
YP will continue to sell and service customers as it does today by offering industry leading solutions across digital and print based local search, presence management, direct marketing, and display advertising with thousands of media consultants across the country serving nearly half a million local businesses. The company will also continue to develop leading digital media platforms that offer compelling consumer experiences across YP.com and the YP app. David Krantz, who has led YP since its separation from AT&T in 2012, will continue as CEO of the company.
“Our decision to form two distinct companies allows both entities to focus on their respective products, operations and have independent management teams,” said Krantz. “While each company will operate independently, there is no change to how we sell to advertisers or how we serve our customers.”
The legal separation of the companies is anticipated to be completed on June 30, 2015.
YP is a leading local marketing solutions provider in the U.S. dedicated to helping local businesses and communities grow. YP’s flagship consumer brands include the popular YP℠ app and YP.com, which are used by more than 70 million visitors each month in the U.S. (Internal Data, January 2015). YP solutions include digital and print based local search, presence management, direct marketing, and display advertising. YP solutions and services are backed by thousands of media consultants and customer service professionals in local markets across the U.S. with relationships spanning more than half a million advertisers. For more information on YP, visit us at http://corporate.yp.com. Follow us on Facebook: http://www.facebook.com/YP and on Twitter: @YP.
Kristen Morquecho, 818-649-8934
Alison Crisci, 312-340-6997
Categorised in: Press Release