Ziff Davis files chapter 11 bankruptcy
Written by admin on March 6th, 2008 in Gadgets.
Posted Mar 6th 2008 12:09AM by Ryan Block
Filed under: Misc. gadgets
Damn, we don’t normally do too much media-on-media stuff, but reports are surfacing that tech mega-publisher Ziff Davis (owner of PC Mag, EGM, DigialLife, etc.) is fricking filing for chapter 11 bankruptcy as a shield from some $225m in debt. For those not in the know, chapter 11 just means they’re down, but not necessarily out — although we had no idea it was as dire for the media company as being $225m in the can (not that we’re really all that shocked). Apparently when the company anticipates emerging from bankruptcy later this summer it’ll have whittled down its debt to under $60m, having given up nearly 90% of the company’s equity to its private creditors.
Tags: gadgetry, Gadget, consumer electronics, speaker
