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Yahoo "Loses" $2.7B In Mysterious Mexican Yellow Pages Lawsuit
An anonymous reader writes "CNN reports that a Mexico City court has ordered Yahoo to pay $2.7 billion to Worldwide Directories and Ideas Interactivas. The classified directory publisher sued Yahoo, claiming various losses and breaches involving 'contracts related to a yellow pages listings service.' Yahoo announced its intention to appeal but is saying little else about the case."
http://investor.yahoo.net/releasedetail.cfm?ReleaseID=724306 will work better (without the trailing slash).
Someone just sufficiently far removed from the judge made a bet on Yahoo's shares falling just about this time.
Well they pay people to post on anonymous internet forums about how they're more than just a search engine, for one.
>> Yahoo is more than just a search engine.
It can also cut through these beer cans, and look, it's still sharp enough to slice these tomatoes...
Have you ever seen how much yellow pages charges each of the companies to be listed in it? It's not craigslist.. those listing can be expensive.
Earlier this year, ATT sold part of it's Yellow Pages operation for close to a billion dollars. The division is valued at $3.9billion:
http://money.msn.com/top-stocks/post.aspx?post=ec6803ce-4128-42be-bc43-eb1534853efd
Look at the chart on this page:
http://www.businessweek.com/articles/2012-03-22/the-golden-allure-of-the-yellow-pages
revenue:
att: 3.3 billion
dex: 1.5b
supermedia: 1.6b
yell group: 1.5b
share of TOTAL US ad spending: ~8%