Online Boosts Canada's Yellow Media Revenues
Reuters , Thursday, August 9, 2012 12:14 PM
The Canadian telephone directory publisher reported quarterly revenue above analysts' estimates as online sales rose, sending its shares up 25% in morning trade. Yellow Media and its U.K. counterpart Hibu Plc, formerly Yell Group, have struggled to stem the slide in their print businesses and pare huge debt loads as more people turn to internet-based giants like Google to find local listings. Yellow Media, which has been struggling to sell advertising space in its traditional Yellow Pages and business directories, laid out a plan in July to halve its C$1.8 billion debt.
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