R.H. Donnelley Files for Chapter 11
CARY, NC—R.H. Donnelley, the company perhaps best known for its line of telephone directories, has filed for Chapter 11 bankruptcy. R.H. Donnelley has reached an agreement in principle with key creditor constituencies that proposes to reduce debt by approximately $6.4 billion, eliminate approximately $500 million in annual interest expense and extend the company’s bank maturities out to 2014.
R.H. Donnelley delivers relevant search results for consumers and leads to small- and medium-sized businesses through its Dex-branded printed yellow and white pages directories, Internet yellow pages, mobile and voice search platforms, as well as one of the largest pay-per-click ad networks in the country.