Ziff Davis Filing Chapter 11 [Mar 05, 2008, 9:31 pm ET] – 5 Comments
This Press
Release has word that Ziff Davis will be
filing for Chapter 11 bankruptcy protection after the failure of "good faith
negotiations with certain of its subordinated unsecured noteholders," leading to
an agreement with an ad hoc group of noteholders to reorganize under Chapter 11
(thanks Neutronbeam and
PaidContent.org). Word is the owner of PC
Magazine, 1Up, and
ExtremeTech has filed a number of what
are called "customary 'first day' motions" to allow them to continue paying
employees and vendors while reorganizing.
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