Idearc changes name to SuperMedia after Chapter 11

AP News
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Posted: Jan 04, 2010 10:38 AM

Yellow Pages publisher Idearc Inc. said Monday it has changed its name to SuperMedia Inc. as it emerges from bankruptcy protection.

The company's Chapter 11 plan was approved by a bankruptcy judge in Dallas last month and went into place Dec. 31, cutting its debt to $2.75 billion from $9 billion and wiping out stock holders.

SuperMedia's banks and bondholders will receive new common stock in the company, which was spun off from Verizon in 2006, in return for reducing the debt.