{{Short description|Canadian publication and internet services company}} {{Use Canadian English|date=May 2026}} {{use mdy dates|date=October 2025}} {{Infobox company | name = Yellow Pages Limited | logo = Yellow Pages logo (current).svg | former_name = {{plainlist| * Tele-Direct (Publications) Inc. (1971–1999) * Bell ActiMedia Inc. (1999–2002) * Yellow Pages Group (2002–2010) * Yellow Media (2010–2015) }} | type = Public | traded_as = {{TSX|Y}} | foundation = {{Start date and age|1908}} | founder = | location_city = Montreal, Quebec | location_country = Canada | location = 1751 Richardson St. | locations = | area_served = | key_people = | industry = Media | products = | services = | revenue = | operating_income = | net_income = | assets = | equity = | owner = | num_employees = 608 | parent = {{plainlist| * Bell Canada (1908–2002) * Yellow Pages Income Fund (2004–2010)<ref name="AboutUs">{{cite web|url=http://www.ypg.com/page.php/en/1/4.html|title=Yellow Media Inc. - About Us|archive-url=https://archive.today/20120919013902/http://www.ypg.com/en/company/history|archive-date=September 19, 2012|access-date=July 28, 2009|url-status=dead|df=mdy-all}}</ref> }} | divisions = | subsid = | homepage = {{URL|https://corporate.yp.ca}} | footnotes = }} '''Yellow Pages Limited''' is a Canadian publication and internet services company that owns and operates Canadian properties and publications including ''Yellow Pages'' directories, YellowPages.ca, and Canada411.ca. Its online destinations reach approximately 9 million unique visitors monthly and its mobile applications for finding local citizens, downloaded more than 3 million times.
Historically known for distributing yellow pages phone books across Canada, into the 21st century YPG has primarily shifted to digital marketing services, though they also operate the YellowPages.ca local business search engine and Canada411 online phone directory,<ref>{{Cite web |title=Find local businesses, products, reviews and deals on YellowPages.ca - YP.ca |url=https://www.yellowpages.ca/ |access-date=2024-04-24 |website=YellowPages.ca |language=en-CA}}</ref><ref>{{Cite web |title=New Canada 411 |url=https://www.canada411.ca/?old=no&nicam=like&nichn=facebook |access-date=2024-04-24 |website=Canada 411 |language=en-CA}}</ref> and still print phone books on a limited basis to some customers as of 2024.
== History == Yellow Pages Canada was established in 1908 as a division of Bell Canada. In 1971, it was incorporated as a subsidiary and renamed to Tele-Direct Inc.<ref name="AboutUs"/> In 1999, the company changed its name to Bell ActiMedia Inc. to reflect a closer alliance with Bell.<ref>[http://www.bce.ca/en/investors/reports/annual/bce/1998annual/scope/net/] {{webarchive|url=https://web.archive.org/web/20041228120956/http://www.bce.ca/en/investors/reports/annual/bce/1998annual/scope/net/|date=December 28, 2004}}</ref>
In 2002, Kohlberg Kravis Roberts and the Ontario Teachers' Merchant Bank acquired control of Yellow Pages Group YPG), with Bell Canada retaining 10% ownership.<ref name="AboutUs" /> In August 2003, YPG had its initial public offering, which raised over $1 billion, and established YPG as an income fund on the Toronto Stock Exchange (YLO.UN).{{citation needed|date=July 2018}}
In October 2008, Yellow Pages was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc. and was featured in ''Maclean's'' newsmagazine, the only directory publisher to receive this honour.<ref>{{cite web|url=http://www.eluta.ca/top-employer-yellow-pages|title=Reasons for Selection, 2009 Canada's Top 100 Employers Competition}}</ref> In 2009, Yellow Pages Group was chosen as one of Canada's Top 100 Employers, Montreal's Top Employers, and ''Financial Post''{{'}}s 2009 "Ten Best Companies to Work For".<ref>{{cite web |last=Leung |first=Kristina |date=2010-10-04 |title=Jobs at Yellow Pages Group |url=http://www.eluta.ca/top-employer-yellow-pages |access-date=2015-12-28 |website=Eluta.ca}}</ref>
In 2010, YPG announced that, based on urban customer habits and the decline of phone books as a result of the internet and smartphones, they would stop delivering residential phone books to customers in Toronto, Montreal, Vancouver, Calgary, Edmonton, Ottawa, Gatineau, and Quebec City, with deliveries only being resumed on request. Most customers there were urged to use the online Yellow Pages directories instead.<ref>{{Cite web |date=2010-06-03 |title=Yellow Pages cuts delivery of residential phone book |url=https://ottawa.ctvnews.ca/yellow-pages-cuts-delivery-of-residential-phone-book-1.518939 |archive-url=https://web.archive.org/web/20160802180209/http://ottawa.ctvnews.ca/yellow-pages-cuts-delivery-of-residential-phone-book-1.518939 |url-status=dead |archive-date=August 2, 2016 |access-date=2024-04-24 |website=CTV News Ottawa |language=en}}</ref> Through 2011 and 2012, YPG lost 90% of their share value, prompting a major restructuring toward digital marketing that saw shares triple in value but also led to several layoffs.<ref name=":0">{{Cite web |last=Evans |first=Pete |date=2015-02-03 |title=Yellow Pages ending home delivery in some areas of Canada |url=https://www.cbc.ca/news/business/yellow-pages-ending-home-delivery-in-some-areas-of-canada-1.2940060 |access-date=2024-04-24 |website=CBC News}}</ref> In 2015, YPG's phone book delivery cuts expanded to include Brampton, Mississauga, and Oakville, with the company continuing to analyze developing trends for potential further cuts for certain markets (namely Guelph, Kitchener, Waterloo, Cambridge, Elmira, Fergus, Hawkesbury, and Lethbridge) and locations such as high-rise buildings; however, a company statement assured YPG did not plan on fully discontinuing printed phone books, as many customers still relied on them, primarily seniors.<ref name=":0" /><ref>{{Cite web |last=Marowits |first=Ross |date=2015-02-02 |title=Yellow Pages to end home-delivery of print directories in some areas |url=https://globalnews.ca/news/1807371/yellow-pages-to-end-home-delivery-of-print-directories-in-some-areas/ |access-date=2024-04-24 |website=Global News |language=en-US}}</ref>
In March 2011, Yellow Pages sold Trader Corporation to funds advised by Apax Partners for $745 million.<ref>{{cite web|first=Robin |last=Wauters|url=https://techcrunch.com/2011/03/25/yellow-media-sells-vertical-media-publishing-subsidiary-for-745-million-in-cash/ |title=Yellow Media Sells Vertical Media Publishing Subsidiary for 745 million in Cash|website=TechCrunch|date=March 25, 2011}}</ref> Its ticker symbol changed from YLO to Y in 2012.<ref>{{cite news|url=http://business.financialpost.com/investing/once-staggering-under-2b-in-debt-yellow-media-looks-to-ride-brand-recognition-to-new-growth|first=Christine|last=Dobby|title=Once staggering under $2B in debt, Yellow Media looks to ride brand recognition to new growth|newspaper=Financial Post|date=May 14, 2014|access-date=February 7, 2018}}</ref>
On January 16, 2018, it was announced that Yellow Pages would cut 18% otherwise, one-fifth of its workforce. That very same day, approximately 500 employees were laid off nation-wide. According to its new CEO David Eckert, such measures were essential to ensure short-term financial health of the company, whose stock price took a significant nosedive over the year 2016–2017.<ref>{{cite web|url=https://www.journaldemontreal.com/2018/01/16/pages-jaunes-supprime-500-emplois-1|title=Black day at Yellow Pages {{!}} Some 500 employees lose their jobs|website= Le Journal de Montréal|first=Philippe|last=Orfali|date=January 16, 2018|access-date=October 2, 2025}}</ref>
By 2018, Yellow Pages phone books were still being printed for customers in Halifax, Nova Scotia, primarily to profit from advertising, but residents who did not use them were noted to simply throw them away at the expense of the city and the environment, prompting YPG to include recycling tips in newer editions.<ref>{{Cite web |date=2018-04-25 |title=A new direction for an old directory: The future of phone books |url=https://www.ctvnews.ca/atlantic/article/a-new-direction-for-an-old-directory-the-future-of-phone-books/ |access-date=2024-04-24 |website=CTV News Atlantic |language=en}}</ref> Yellow Pages Canada still prints and publishes phone books as of 2024, but they are notably rarer and slimmer, and are largely sustained by elderly customers and advertising revenue.<ref>{{Cite web |date=2024-04-16 |title='I Google': Why phonebooks are becoming obsolete |url=https://www.ctvnews.ca/canada/article/i-google-why-phonebooks-are-becoming-obsolete/ |access-date=2024-04-24 |website=CTV News |language=en}}</ref>
== Acquisitions == In 2010, YPG acquired Vancouver-based Canpages for $225 million.<ref>{{Cite web |date=2010-03-30 |title=Yellow Media to buy Canpages |url=https://www.cbc.ca/news/business/yellow-media-to-buy-canpages-1.869189 |access-date=2024-03-24 |website=CBC News}}</ref>
In 2015, YPG acquired ''Vancouver Magazine'' and ''Western Living'' magazine from TC Media.<ref>{{Cite web |date=2015-06-03 |title=Why Yellow Pages bought Vancouver and Western Living magazines |url=https://www.bcbusiness.ca/industries/general/why-yellow-pages-bought-vancouver-and-western-living-magazines/ |access-date=2024-04-24 |website=BC Business |language=en-US}}</ref>
== Controversies == In 2017, CBC Radio reported that small business owners were disappointed with YPG's search engine optimization services, which allegedly failed to achieve high placements on search engine results, and in some cases did not bring website traffic at all, yet still demanded large payments by locking them into contracts and threatening them with lawsuits and collection notices,<ref>{{Cite web |last= |first= |date=2017-01-24 |title=Des entrepreneurs déçus par Pages Jaunes |url=https://ici.radio-canada.ca/nouvelle/1011908/entrepreneurs-decus-pages-jaunes-services-referencement |access-date=2024-04-24 |website=CBC Radio-Canada |language=fr-ca}}</ref> which continued well into 2019 and 2021 as reported by ''Business in Vancouver''.<ref>{{Cite web |date=2019-01-15 |title=Canadian businesses blast Yellow Pages' ad practices |url=https://www.vancouverisawesome.com/courier-archive/news/canadian-businesses-blast-yellow-pages-ad-practices-3091660 |access-date=2024-04-24 |website=Vancouver Is Awesome |language=en}}</ref><ref>{{Cite web |date=2019-01-15 |title=Canadian businesses blast Yellow Pages' ad practices |url=https://www.biv.com/news/economy-law-politics/canadian-businesses-blast-yellow-pages-ad-practices-8254964 |access-date=2024-04-24 |website=Business in Vancouver |language=en}}</ref><ref>{{Cite web |date=2021-06-11 |title=Yellow Pages continues to face 'pattern of complaints' |url=https://www.biv.com/news/economy-law-politics/yellow-pages-continues-face-pattern-complaints-8264533 |access-date=2024-04-24 |website=Business in Vancouver |language=en}}</ref> In 2019, Calex Legal Inc. filed a class action lawsuit in Quebec against YPG involving thousands of small businesses.<ref>{{Cite web |date=2019-03-19 |title=UPDATED: Class action against Yellow Pages to proceed in Quebec |url=https://www.biv.com/news/economy-law-politics/class-action-against-yellow-pages-proceed-quebec-8255615 |access-date=2024-04-24 |website=Business in Vancouver |language=en}}</ref>
Yellow Media is considered by some Canadian financial writers to be a prime example of why investors should be skeptical of high dividend yields.<ref>{{cite news|first=John|last=Heinzl|url=https://www.theglobeandmail.com/globe-investor/investor-community/trading-shots/how-not-to-invest-in-2013/article6603920/ |title=How not to invest in 2013|newspaper=The Globe and Mail|date=December 21, 2012}}</ref> In 2011, the company maintained a high dividend yield despite close scrutiny,<ref>{{cite news|first=John|last=Heinzl|url=https://www.theglobeandmail.com/globe-investor/investment-ideas/yellow-medias-dividend-under-the-microscope/article597402/ |title=Yellow Media's dividend under the microscope|newspaper=The Globe and Mail|date= March 24, 2011}}</ref><ref>{{cite web|first=Todd |last=Johnson|url=http://seekingalpha.com/article/272915-risk-or-reward-what-s-behind-yellow-media-s-17-dividend-yield |title=Risk or Reward: What's Behind Yellow Media's 17% Dividend Yield|website=Seeking Alpha|date=June 2, 2011}}</ref> before finally cutting dividends and taking a stock price hit.<ref>John Shmuel. "[http://business.financialpost.com/2011/08/04/yellow-media-slashes-dividend/ Yellow Media shares plummet after dividend cut]". ''Financial Post'', August 4, 2011.</ref>
==References== {{Reflist|30em}}
==External links== *[http://www.ypg.com/ Yellow Pages Group] *[http://www.yellowpages.ca/ YellowPages.ca] *[http://www.pagesjaunes.ca/ PagesJaunes.ca] *[http://www.canadaplus.ca/ Canadaplus.ca]
Category:Companies listed on the Toronto Stock Exchange Category:Companies based in Montreal Category:Telephone directory publishing companies Category:Private equity portfolio companies Category:Yellow pages