Featured Articles

IHS teardown reveals Galaxy S5 BOM

IHS teardown reveals Galaxy S5 BOM

Research firm IHS got hold of Samsung’s new flagship smartphone and took it apart to the last bolt to figure out…

More...
Galaxy S5, HTC One M8 available selling well

Galaxy S5, HTC One M8 available selling well

Samsung’s Galaxy S5 has finally gone on sale and it can be yours for €699, which is quite a lot of…

More...
Intel lists Haswell refresh parts

Intel lists Haswell refresh parts

Intel has added a load of Haswell refresh parts to its official price list and there really aren’t any surprises to…

More...
Respawn confirms Titanfall DLC for May

Respawn confirms Titanfall DLC for May

During his appearance at PAX East panel and confirmed on Twitter, Titanfall developer Respawn confirmed that the first DLC pack for…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

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

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments