The confidentiality inherent in this closed industry kept jealousy at bay, and it no doubt encouraged many executives who were successful to stay with their current employers. You have to wonder if the large sums of money made by a few Dex executives may encourage some telco executives to consider opportunities in top management positions at independent publishers. This in turn could cause more turnover and further consolidation at all levels.
Utility publishers have long resented their independent competitors, not only because of the potential of lost market share, but also because of the opportunity the independent executives have to operate in a non-bureaucratic environment and the chance to make big money. While Dex is classified as an incumbent, private equity firms Carlyle Group and Welsh, Carson, Anderson & Stowe were able to generate significant returns for themselves and Dex top management.
This subject is not likely to be discussed from the podiums at any of the industry conferences, but it will certainly be a hot topic in the halls.