Tuesday, August 17, 2010
SuperMedia and DEX One
Directories just keep coming back to market after a trip to bankruptcy court. We have DEXO (former RH Donnelley) and SuperMedia (former Idearc) back in the market - still levered up 3x-4x Net Debt/EBITDA. These stocks will most likely still go to 0, but there might be some nasty bounces along the way. I hope they come out with a decent qtr, where ad rev decline is 12% instead of 15%.