The Yellow Pages has become the latest casualty of the digital age, but a new deal could give it a second life.

 

 

     AT&T said today it's selling its Yellow Pages unit to private equity firm Cerberus Capital Management.  

 

 

     As part of the deal, A-T & T will receive $750 million in cash, a $200 million note and a 47% equity interest in the new entity, called Y-P Holdings lnc.

 

 

     AT&T's Yellow Pages directories go out to about 150 million homes and businesses in 22 states.