Reuters is reporting that both Idearc and R.H. Donnelley are close to completing their bankruptcy processes, and are planning to hit the ground running with plans to transform themselves from print-centric to multiproduct businesses.

The following quote from Idearc CEO Scott Klein about sums up what the Yellow Pages industry is facing over the next couple of years.

“There are two kinds of companies in the world: those that change and those that go out of business. Clearly, we’re focused on the former, not the latter.”