Ziff Davis Media Files for Bankruptcy

[Brett_Tabke]

[bloomberg.com...]

Ziff Davis Media Inc., the publisher of PC Magazine and the video-game magazine EGM, filed for bankruptcy protection with a plan to swap debt for new equity.

Ziff Davis Media plans to swap $225 million of existing senior debt for a new $57.5 million senior secured note and at least 88.8 percent of the common stock in the reorganized company. The New York-based company has a debt-restructuring agreement with senior noteholders, it said today in a statement. Subordinated noteholders haven't agreed to the restructuring.

[Lord Majestic]

End of the era for sure...

[buckworks]

Maybe this is why it has been so hard to unsubscribe to their newsletters.

[engine]

Whoaaa! That's a well established and major publisher.