Paradise Yellow Pages acquired by national firm
The isle company's 70 employees will be retained after the sale
The Paradise Yellow Pages has been sold for an undisclosed sum to Yellow Book USA, which bills itself as the nation's oldest and largest independent yellow pages provider.
Aiea-based Paradise Media Group LLC has published its independent local directory since May 2000 and its 70 employees will be retained by the Yellow Book, a Uniondale, N.Y.-based unit of the Reading, England, directory firm Yell Group PLC.
Founder David Akina said in a statement that he felt the decision would benefit users, customers and employees. Employees will retain tenure and benefits in the transaction.
"I have been watching Yellow Book's growth and success for years, and admire the organization that its CEO, Joe Walsh, has built. I am pleased that Paradise Yellow Pages will be working with a company that shares the same values," Akina said.
The statement gave no information about the status of the Paradise Pages white-pages directory, and Paradise Yellow Pages executives did not return calls.
Yellow Book gets to add Hawaii to the list of 46 states in which it does business. It will distribute some 785,000 directories this year with separate editions for Oahu, Kauai, Maui and the Big Island.
"We will continue the positive momentum that Paradise has begun, by developing win-win relationships with their advertisers and consumers," said Joe Walsh, Yellow Book chief executive.
The Boston Globe recently reported that the yellow pages industry grew to $16 billion in 2005 from $13.7 billion in 2000 and that another $1.7 billion in growth is expected by next year, citing research from Connecticut-based Simba Information Inc.