Yellow Pages Limited
Yellow Pages Limited is a Canadian media company that owns and runs Yellow Pages directories, YellowPages.ca, and Canada411.ca. It reaches about 9 million people online each month, and its mobile apps have been downloaded more than 3 million times. Based in Montreal, it employs around 600 people. The business started in 1908 as a Bell Canada division and has carried several names over the years: Tele-Direct (Publications) Inc. (1971–1999), Bell ActiMedia Inc. (1999–2002), Yellow Pages Group (2002–2010), and Yellow Media (2010–2015) before becoming Yellow Pages Limited. It is publicly traded on the Toronto Stock Exchange under the symbol Y.
The company has moved from printing phone books to digital marketing services, though printed directories are still produced in limited amounts in some areas as of 2024. In 2002, private equity firms bought control of Yellow Pages Group while Bell Canada kept a 10% stake. An initial public offering in 2003 raised over $1 billion and listed YPG as an income fund on the TSX (YLO.UN). In 2012 the ticker changed to Y.
In 2010 Yellow Pages stopped delivering residential phone books in many major Canadian cities and pushed customers toward online directories. Between 2011 and 2012, the company’s share value fell sharply and it undertook a major restructuring toward digital services, accompanied by layoffs. In 2018, about 18% of the workforce (around 500 people) were laid off. Print editions continued in some markets, such as Halifax, mainly for advertising.
Key acquisitions include Canpages in 2010 for $225 million and Vancouver Magazine and Western Living in 2015. The company has faced criticism over its search engine marketing services, with reports of disappointing results for some small businesses, and a 2019 class-action suit was filed in Quebec. Yellow Pages is often cited as an example of the risks of high dividend yields, as it cut dividends after a period of strong yields.
This page was last edited on 2 February 2026, at 08:54 (CET).