| Type | Public limited company |
|---|---|
| Traded as | LSE: YELL |
| Industry | Media |
| Founded | 2001 |
| Headquarters | Reading, Berkshire, United Kingdom |
| Key people | Bob Wigley (Chairman) Mike Pocock (CEO) |
| Products | UK:Yellow Pages, Yell.com, 118 24 7;US: Yellow Book and Yellowbook.com and in Spain: Paginas Amarillas and PaginasAmarillas.es |
| Revenue | £1,877.6 million (2011)[1] |
| Employees | circa 13,414 (2011)[2] |
| Website | www.yellgroup.com |
Yell Group plc (LSE: YELL) is a multinational directories company headquartered in Reading, United Kingdom. As well as the United Kingdom, it has operations in the United States, Spain and some countries in Latin America. Yell Group has its origins in the Yellow Pages division of the privatised former British state telecommunications operator BT Group plc.
Yell Group is listed on the London Stock Exchange and is a constituent of the FTSE SmallCap Index, having been a member of the FTSE 100 Index prior to March 2008.
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In 1966, Post Office Telecommunications - a division of the UK General Post Office, launched the first UK Yellow Pages classified directory in Brighton, Sussex.[3] Yellow Pages were rolled out across the UK by 1973,[4] and became the first information provider on Prestel.
Yellow Pages launched its iconic J. R. Hartley adverts in 1983, and became a separately identified business within the BT Group after BT was privatised in 1984. The red fronted Business Pages launched in 1985 in Bristol and South Wales, and the telephone directory enquiries information service Talking Pages was piloted in Brighton and Bristol from 1987, [5] which then became known as 118 24 7 after 2003.[6] The group launched Yell.com, its UK local search engine, in 1996[7] and acquired YellowBook USA in 1999 for $665 million.[8]
The Group was renamed Yell in 2000 [9] and BT restructured in 2001 and agreed to sell the Yell directory business to private equity firms Apax Partners and Hicks, Muse, Tate & Furst (today operating in Europe as Lion Capital LLP) for £2.14 billion/$3.5 billion,[10] making it then the largest non-corporate LBO in European history.
Yell bought McLeodUSA, one of the largest independent directory publishers in the US for about $600 million in 2002,[11] and floated on London's FTSE in 2003.[12]
In May 2005 Yell announced the acquisition of U.S. directory publisher TransWestern Publishing (and its holding company TransWestern Holdings L.P. from a consortium of private equity firms (Thomas H. Lee Partners and CIVC Partners for $1.575 billion (£829 million). TransWestern operated in 25 states and had core positions in California and Texas. The deal went through later in the year, making Yell's U.S. subsidiary Yellowbook the fifth largest directory publisher in the United States at that time.[13] TransWestern had been acquired by CIVC Partners in 1993 and was used as a vehicle for additional acquisitions of smaller directories publishers in the western US. In 1997, TransWestern completed a leveraged recapitalization in which Thomas H. Lee Partners and Providence Equity Partners acquired a 60% interest in the company, with CIVC retaining a minority interest.[14] In 2001, TransWestern acquired Texas-based WorldPages.com, Inc., a leading print and Internet yellow pages publisher listed on the New York Stock Exchange for $215 million. At the time, TransWestern was the second largest independent publisher of directories.[15]
In April 2006 Yell agreed to purchase a 59.9% stake in Spanish phone directory firm Telefonica Publicidad e Informacion (TPI) from Telefonica, and launched a bid for the remaining shares which valued TPI at a total of £2.3 billion (€3.3 billion; US$4.1bn). Since then, Yell has bought further capital and in September 2007 reached agreement with the minority shareholders to acquire the remaining 1.28% of what is now named Yell Publicidad.[16] In July 2006, Yell threatened Yellowikis with legal action, claiming that people will confuse the two organisations.[17] In 2008 Yell Group purchased the Pindar Set business and renamed it Yell Adworks.[18]
In May 2009, Yell UK announced an alliance with Google to provide search marketing services to small businesses,[19] followed by Yell Publicidad in January 2010.[20] In June 2009, Yell Group announced the appointment of Bob Wigley as Chairman, following the announcement in May 2009, that existing chairman Bob Scott would step down.[21] In September 2009, Yell's US arm, Yellowbook, acquired Texas and Louisiana assets of ypOne Publishing, the 10th largest independent yellow pages publisher in the US.[22] Yell announced the completion of its refinancing in November 2009, [23] as first announced in June 2009 [24]and updated in September the same year.[25]
In February 2010, Yell UK announced the first major redesign in forty years of the traditional Yellow Pages directories into a smaller compact size rather than the traditional A4 format.[27]
In May 2010, Yell Group purchased TrustedPlaces,[28] a user-contributed local review site, and its US arm Yellowbook, announced the launch of a new group buying website called Weforia.com in August 2010.[29]
Mike Pocock was appointed Yell Group CEO from 1 January 2011, replacing previous CEO John Condron.[30] He was previously Senior Vice President and General Manager of Linksys and before that was President and Chief Executive of Polaroid Corporation.
Yell Group announced the appointment of Richard Hanscott as CEO for the UK part of the business on 29 June 2011, reporting to Mike Pocock.[31] Hanscott was previously CEO of NEC Germany and Vice President Network Solutions NEC Europe.
In July 2011, Yell announced the acquisition of Znode, the privately owned multi-store ecommerce company[32] and strategic alliances on digital services for small businesses with both Microsoft[33] and Bazaarvoice.[34] On 14th July, Yell announced a four year plan to move away from traditional print and online advertising and focus on providing a broader range of digital services for both small businesses and consumers.[35]
In September 2011, Yell announced an alliance with mobile platform company Netbiscuits[36].
In October 2011, Yell announced the appointments of Scott Moore as Group Chief Digital Officer[37] - previously of MSN and Yahoo! and Jenny Ashmore as Group Chief Marketing Officer[38] - previously of Mars, Incorporated and Procter & Gamble.
The Company operates in the classified advertising markets in the UK, US, Spain, and some countries in Latin America through printed, online and telephone-based media. It is organised as follows:
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