Firm News
SRZ Advises on the Acquisition of AT&T’s Yellow Pages - Advertising Solutions and Interactive Businesses
April 9, 2012
SRZ represented Cerberus Capital Management, L.P. in its $950 million acquisition of 53 percent of AT&T's Yellow Pages - Advertising Solutions and AT&T Interactive Businesses and associated recapitalization. The Yellow Pages business includes about 1,200 yellow pages directory titles that reach 150 million homes and offices in 22 states; rights to the yellow pages website YP.com and the YP mobile app; and the YP Local Ad Network, a network of more than 300 mobile and online publisher websites nationwide reaching 71 million monthly unique visitors. The acquisition was announced on April 9, 2012 and closed on May 8, 2012.
The deal team included tax partner Alan S. Waldenberg; intellectual property, sourcing & technology special counsel Scott M. Kareff; environmental partner Howard B. Epstein; employment & employee benefits partner Ronald E. Richman and special counsel Scott A. Gold; real estate partners Robert S. Nash and Julian M. Wise; and former Schulte lawyers Kirby Chin, John Garces, Matthew J. Gruenberg and Frederic L. Ragucci.
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On March 1, 2024, New York Governor Kathy Hochul signed into law an amended version of the New York LLC Transparency Act (“NYLTA”),[1] requiring certain limited liability companies (“LLCs”) formed or authorized to do business in New York (each, a “NY Reporting Company”) to file a beneficial ownership information (“BOI”) report with the NY Department of State (“NY DOS”). Each NY Reporting Company will be required to disclose on its BOI report identifying information pertaining to each individual who directly or indirectly exercises substantial control or owns or controls 25 percent or more of the ownership interests of a NY Reporting Company (each, a “Beneficial Owner”) and the individuals involved in the NY Reporting Company’s formation or registration to do business in New York (each, an “Applicant”). Information reported to NY DOS will be maintained in a private database not accessible to the public. The NYLTA goes into effect on Jan. 1, 2026 and requires the NY DOS to promulgate regulations implementing the legislation.
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
On March 1, 2024, New York Governor Kathy Hochul signed into law an amended version of the New York LLC Transparency Act (“NYLTA”),[1] requiring certain limited liability companies (“LLCs”) formed or authorized to do business in New York (each, a “NY Reporting Company”) to file a beneficial ownership information (“BOI”) report with the NY Department of State (“NY DOS”). Each NY Reporting Company will be required to disclose on its BOI report identifying information pertaining to each individual who directly or indirectly exercises substantial control or owns or controls 25 percent or more of the ownership interests of a NY Reporting Company (each, a “Beneficial Owner”) and the individuals involved in the NY Reporting Company’s formation or registration to do business in New York (each, an “Applicant”). Information reported to NY DOS will be maintained in a private database not accessible to the public. The NYLTA goes into effect on Jan. 1, 2026 and requires the NY DOS to promulgate regulations implementing the legislation.
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]