Ziff Davis files for bankruptcy protection
Print and Web publisher Ziff Davis Media filed for Chapter 11 bankruptcy protection on Wednesday, citing declining advertising revenue and subscriptions as contributing factors, according an Associated Press report Wednesday.
The company listed $500 million in liabilities and $313 million worth of assets, as of the end of December, the report said. The publisher of such print and Web publications such as PC Magazine and Electronic Gaming Monthly said it expects to exit court protection by midsummer.
"Today's restructuring agreement goes a long way towards resolving the burdens of a debt load and capital structure established seven years … Read more