One of the country’s largest phone book publishers is planning to file for bankruptcy protection next month for the third time in seven years after efforts to reposition the company to thrive in the digital age fell short, the Wall Street Journal reported today. Dex Media Inc. has reached a deal with key creditors to reduce its debt by more than $1 billion in a chapter 11 restructuring set to begin next month. Lenders including Mudrick Capital Management LP and Paulson & Co. would end up with most of the reorganized company’s equity. Dex, which published more than 1,700 yellow pages and white pages directories in 2014, plans to ask its board to approve the restructuring within a week or so.
