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Ziff Davis Dodges Bankruptcy
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Posted by: TotalRecall
Ziff Davis Media has avoided filing bankruptcy:
NEW YORK (Reuters) - Privately-held magazine firm Ziff Davis Media Inc. said Monday that most of its bondholders had approved its financial restructuring, enabling the embattled publisher of PC Magazine and Electronic Gaming Monthly to avoid filing for bankruptcy.
Ziff Davis, whose technology magazines have been among the hardest-hit by the advertising slump, said in a statement that 95.1 percent of its bondholders had accepted an exchange offer for their notes, after the company extended the offer several times in an attempt to meet a 95 percent consent target.
Read more here.
Source: FiringSquad
Posted by: SKYHN
HOORAY!
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