Idearc changes name to SuperMedia, names new board of directors

By Caroline Salls

Pittsburgh, Jan. 4 - Idearc Inc. has changed its name to SuperMedia Inc. following its emergence from Chapter 11 bankruptcy, according to a company news release.

SuperMedia's shares trade on the Nasdaq Global Market under the symbol SPMD, and the company will take part in Opening Bell ceremonies on Wednesday.

"This is an exciting day for SuperMedia, our teammates, our clients and all others who have supported us as we have taken action to strengthen our balance sheet and position the enterprise to succeed in a challenging and rapidly changing business environment," chief executive officer Scott W. Klein said in the release.

According to the release, SuperMedia's equity capitalization will consist of 60 million shares of common stock and five million shares of preferred stock authorized for issuance.

Upon completion of all distributions to former creditors under the plan, the company will have about 15 million shares of common stock issued and outstanding.

The reorganized company's board of directors consists of Edward Bayone, the Earle W. Kazis Professor of the Practice of Finance and International Real Estate at Brandeis University's International School of Business; Robert C. Blattberg, the Timothy W. McGuire Distinguished Service Professor of Marketing and the director of the Center for Marketing Technology and Information at Carnegie Mellon University's Tepper School of Business; Charles B. Carden, former senior vice president and chief financial officer for John H. Harland Co.; Robin Domeniconi, vice president of U.S. advertising for Microsoft Corp.; Thomas Gardner, former corporate executive vice president of Reader's Digest Association, Inc.; David E. Hawthorne, former president and CEO of Lodgian, Inc.; Klein; and Thomas S. Rogers, president and CEO of TiVo Inc.

Idearc, a Dallas-based provider of yellow and white page directories and related advertising products, filed for bankruptcy on March 31, 2009 in the U.S. Bankruptcy Court for the Northern District of Texas. Its Chapter 11 case number is 09-31828.

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