Ziff Davis files Chapter 11

[Onkel Neal]

The group has agreed to pay up to $24.5 million to fund the Ziff Davis’ operations during and after the Chapter 11 case, the company says. If the restructuring is approved, the company’s $225 million senior note debt would be reduced. The debt would then be exchanged for a new $50 million senior secured note and at least 88.8 percent of the common stock in the reorganized company.

http://www.dailytech.com/Ziff+Davis+...icle10979c.htm




Another casualty of the Internet, I suppose. Found this related article interesting as well.

A spat about the relevance of PC Magazine erupted in mid-April when a top public-relations executive dissed the print version of the venerable Ziff Davis Media title.
Steve Rubell, a senior vice president at Edelman Public Relations, and prominent columnist and blogger, posted a comment on the social-networking site Twitter (comments are known as "tweets" in the jargon of this year-old site). The post was brief. It said, "PC Mag is another. I have a free sub but it goes in the trash."
The post created a ruckus. Jim Louderback, the editor of PC Magazine, responded with an open letter on the PR blog Strumpette, where he said, "When I saw the post, a torrent of thoughts flashed through my head. The first, of course, was to ring up the guys in the basement and cancel his free subscription.

[Brag]

The internet is a chaotic world, which is splintering the news media and losening the iron grip of the large publishing houses. I think what we are seeing is a type of guerilla warfare against what many people think of as the establishment.