Verizon to shed directory unit

Verizon said Sunday it is exploring divestiture of its directory publishing unit, Verizon Information Services, in order to sharpen its focus on its network-based businesses in the broadband, wireless and enterprise markets.

The Verizon Board of Directors has authorized the company to seek a sale, spin-off or other strategic transaction to divest VIS.

The New York Times reported Sunday that the divestiture could fetch up to $17 billion for Verizon, which is also expected to explore selling off rural exchanges as it continues to build out fiber-to-the-premises networks in more densely populated areas.

In announcing the intent to sell VIS, Verizon Chairman Ivan Seidenberg said the deal would be mutually beneficial. By shedding its ties to Verizon, VIS would have “more flexibility to maneuver in the fast-changing environment of content providers” and “could then more easily seek partnerships, meet customer requirements and create its own growth opportunities,” he said in a prepared statement.