As indicated by my colleague, Charles Laughlin, R.H. Donnelley (RHD) announced that it will acquire Dex Media for approximately $9 billion in debt assumption and equity. See the release below and Charles' post for more details. RHD has a substantial print presence in the U.S. but no interesting Internet strategy to speak of. By contrast, Dex has been one of the most aggressive and innovative of the incumbent publishers (perhaps second only to Verizon in that regard).
The Dex acquisition will allow RHD to benefit from Dex's strategy and forthcoming online platform (via Local Matters), which promises to be much improved. More from Charles in the Local Media Journal.