AT&T Completes Sell Off To Cerberus


[Techtaffy Newsdesk]

AT&T has completed its sale of AT&T Advertising Solutions and AT&T Interactive to an affiliate of Cerberus Capital Management.

AT&T received approximately $750 million in cash, a $200 million note and a 47-percent equity interest in the new entity YP Holdings. AT&T says it expects a minimal effect on 2012 earnings from the transaction and does not expect to record a material gain or loss on the transaction.