Ziff Davis Reaches Bankruptcy Agreement
April 30th, 2008
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 a new business plan. The plan will be confirmed in June 2008 by the Bankruptcy Court and the company expects to emerge a victor shortly thereafter. Paid Content (April 29, 2008)
Tags: bankruptcy, reorganization, Ziff Davis