AT&T Sells Advertising Solutions, Interactive Business Units

Dallas-based AT&T said this morning that it has agreed to sell AT&T Advertising Solutions and AT&T Interactive to private equity firm Cerberus Capital Management. AT&T said the deal was worth approximately $750M in cash, plus a $200M note. AT&T will retain a 47-percent equity interest in the new company, YP Holdings LLC. AT&T said the move will help it better focus on its wireless, IP, cloud- and application-based services. The firm's two units print the Real Yellow Pages print directory and operates; AT&T said the units generated approximately $3.3 billion in revenues in 2011.