Ziff Davis Media has announced that its bankruptcy restructuring plan has been approved by a New York court and expects to emerge from bankruptcy as early as July 1st. CEO Jason Young says that the court’s confirmation was “a major milestone” and he expects Ziff Davis Media to be “better positioned, with the financial strength [...]
Ziff Davis has reached an agreement on their bankruptcy proceedings. The consensual plan of reorganization substantially de-leverages Ziff Davis; converting over $428 million to common stock of a reorganized Ziff Davis and a new note that will not exceed $57.5 million. This will entitle Ziff Davis enough cash to pay its way out of Bankruptcy and fund [...]
Weak consumer spending and tightening credit are leading to bankruptcies for retailers in the furniture and home goods categories. The New York Times (Apr. 15, 2008)
The publisher of PC Magazine and EGM reportedly plans to continue operating normally during the reorganization process, and to emerge from Chapter 11 this summer. Crain’s New York Business