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Ziff Davis Files for Chapter 11 Protection
Wednesday, March 5, 2008

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Venerable computer magazine publisher Ziff Davis Media filed Chapter 11 petitions today in the U.S. Bankruptcy Court for the Southern District of New York. The publisher of PC Magazine reached an agreement with an ad hoc group of its secured creditors on the terms of the restructuring of the company’s debt, clearing the way for Chapter 11 bankruptcy.

The company had been attempting to restructure its debt since last summer and avoid filing for Chapter 11 protection, but junior note holders could not come to an agreement with Ziff Davis over a restructuring plan, Ziff Davis Media CEO Jason Young told min's b2b. The company expects to emerge from Chapter 11 this summer.

For more on Ziff Davis’ Chapter 11 filing, look for the March 10 issue of min’s b2b.

If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com

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