Featured Articles

Analysts expect ARM to do well next year

Analysts expect ARM to do well next year

British chip designer ARM could cash in on the mobile industry's rush to transition to 64-bit operating systems and hardware.

More...
Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Huawei and Xiaomi outpace Lenovo, LG in smartphone market

Samsung has lost smartphone market share, ending the quarter on a low note and Xiaomi appears to be the big winner.

More...
Intel Broadwell 15W coming to CES

Intel Broadwell 15W coming to CES

It looks like Intel will be showing off its 14nm processors, codenames Broadwell, in a couple of weeks at CES 2015.

More...
Gainward GTX 980 Phantom reviewed

Gainward GTX 980 Phantom reviewed

Today we’ll be taking a closer look at the recently introduced Gainward GTX 980 4GB with the company’s trademark Phantom cooler.

More...
Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac ZBOX Sphere OI520 barebones vs Sphere Plus review

Zotac has been in the nettop and mini-PC space for more than four years now and it has managed to carve…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 10 March 2008 07:01

Ziff Davis Media files chapter 11

Written by David Stellmack
Image

Reorganization to exit Chapter 11 by summer

Former technology publishing power house, Ziff Davis Media, announced that it has filed Chapter 11 bankruptcy protection in the Southern District of New York Bankruptcy Court. With the growth of the Internet as a source for lightning fast news and reviews, traditional technology magazines have been taking a beating over the past couple of years as companies such as Ziff Davis have attempted to adapt to the changing market.

According to documents filed with the Court the company has reached agreements with the majority of its senior creditors, but was unable to come to terms with junior creditors. The company has roughly $500 million in liabilities and about $313 million in assets.

The company plans to reorganize and currently does not think it will have to cut the any of its 266 employees. The company is hopeful that it will complete the reorganization and emerge from Bankruptcy protection by the summer of 2008. Ziff Davis is publishers of the Electronic Gaming Monthly, as well as PC Magazine, and the popular technology Web site, Extreme Tech.

Last modified on Monday, 10 March 2008 07:42

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments