Dex Media, Inc., one of the largest national providers of local marketing solutions for local businesses, announced that it completed its financial restructuring and emerged from chapter 11 when its confirmed reorganization plan went into effect on July 29, the ABL Advisor reported yesterday. Dex Media was able to shed approximately $1.8 billion of debt during the restructuring. Dex Media is now a privately-owned company as previous shares of common stock have been canceled with no distribution to the holders of those shares. Per the reorganization plan, Dex Media’s previous Board of Directors has disbanded and its new six-member Board of Directors includes representatives from the holders of the company’s newly issued common stock.
