SuperMedia
SuperMedia (formerly Idearc Media - pronounced EYE-dee-arc), is based in Dallas, TX. SuperMedia (NASDAQ:SPMD) is an advertising agency that emerged from the bankruptcy of Idearc Media in January 2010.
SuperMedia’s advertising products and services include: the SuperGuaranteeSM and SuperTradeExchange® programs, Verizon® SuperYellowPages, FairPoint® SuperYellowPages, Superpages.com®, EveryCarListed.comSM, Switchboard.comSM, LocalSearch.comSM, Superpages MobileSMand SuperpagesDirect™ direct mail products.
In 2009, the company launched two new programs, SuperGuarantee and SuperTradeExchange.
Idearc Media voluntarily filed for Chapter 11 bankruptcy on March 31, 2009 and emerged on December 31, 2009. At the start of 2010, it announced a new name, SuperMedia, with ticker symbol SPMD. Shares in the new company were issued to the creditors and bondholders. The pre-emergence common stock of Idearc Inc. (which has recently traded under the symbol “IDARQ.PK “) was cancelled effective December 31, 2009. Holders of the old Idearc Inc. common stock did not receive any distributions as part of the emergence Plan and their equity interests have no value. No further transfers of the old Idearc Inc. common stock will be recorded on the Company’s books.
History as Idearc Media
Idearc Media, formerly Verizon Information Services, was spun-off of from Verizon in 2006. It is home to Superpages.com and publisher of the Verizon Yellow Pages. It also offered "Solutions Direct" full-color direct mail postcards.
The company diversified its product set by moving its focus from a "print-centric" business to a "multi-platform" business, including the 2007 acquisition of InfoSpace Inc.’s directory assets and the LocalSearch.com URL.
While its local search site Superpages.com continues to grow—achieving 24 percent growth and 4.8 billion network searches in 2007—the yellow pages directory business still brings in the majority of the company’s revenue.
According to data released by the Yellow Pages Association, yellow pages usage grew to 17.2 billion searches in 2007, up from 16.7 billion in 2006. Notably, print usage remained stable with 13.4 billion print yellow pages references—the same as 2006.
Although print usage appears stable, print revenues have been declining in recent years. In 2008, Idearc reported a 6.8 percent decrease of multi-product revenues compared to the same period in 2007.. Idearc stock fell from an intra-day high of $38.00 on August 3, 2007 to a closing low of $0.86 on September 16, 2008.
This decline in share value may reflect investors concerns about Idearc's ability to successfully transition to a "multi platform" media company. Moreover, concerns about management leadership, ongoing adverse cyclical and secular trends are viewed to be contributing to revenue and operating margin declines for the foreseeable future.
As of January 22, 2009, Idearc was no longer trading on the New York Stock Exchange due to its low of 2¢ per share and failing to close at or above $1.00 for longer than 30 consecutive days.
On March 31, 2009, Idearc entered Chapter 11 bankruptcy in an effort to "restructure its capitalization and debt obligations to a more appropriate level."