Verizon Spin-Off Gets the Nod

This just in. Verizon has OK’d the spin-off of its Yellow Pages unit, Verizon Information Services, as a separate public company. We knew this was coming, but now it is official. If you thought Verizon was an unusual name, try "Idearc."

This is from the Reuters write-up:

Oct 18 (Reuters) – Verizon Communications Inc. (VZ.N: Quote, Profile, Research) on Wednesday said its board approved the proposed spin-off of Verizon’s U.S. print and Internet yellow pages directories company to its shareholders.

The spin-off will result in a new public company, Idearc Inc. and its shares will be traded on the New York Stock Exchange under the ticker symbol "IAR," Verizon said.