AT&T (NYSE:T) spent about $3.85 million to buy the domain name YP.com from LiveDeal. This was done so that YP.com would now redirect to Yellowpages.com. This was revealed in a Form 10-K filed by LiveDeal Inc. LiveDeal is an Internet marketing campaign company. LiveDeal is run by John Raven as President and Michael Edelhart as CEO. LiveDeal made about $25 million in net revenues in the past year.
BellSouth and SBC bought out YellowPages.com for about $120 million a couple of years ago. Three years ago, SBC bought out AT&T and then AT&T bought out Bellsouth for $67 billion. YellowPages became a fully owned AT&T subsidiary after that.
LiveDeal is formerly known as YP Corp. which is why they owned that domain name. While this is a lot for buying out a domain name, it is only $1 million higher than what Pizza.com was bought for.