Ziff Davis: on the way to bust?
According to the message from respectable NY Times, one of the largest hi-tech content provider, Ziff Davis Media, plans to announced its bankruptcy this week.
Ziff Davis Media officials refrain from any comments, but do not decline that finance restructurization will be announced on Friday.
According to some undisclosed publishers, in case Ziff Davis Media fills the ruefully known Chapter 11 about bankrupt persecution protection, company stock holders will receive new obligations, cash and a share of the new company as a compensation. According to some analysts, the bankruptcy announcement will do only good to Ziff Davis Media, from the long-term point of view, as it will let the company use more stable marketing policy.
As you know, the company has recently closed Yahoo Internet Life 1.1-million drawing online magazine, that brought Ziff Davis Media only $30 million losses during the last 7 years, according to Mediaweek. And during the last half-year 6 of 15 published company editions were closed as well, including Family PC, Expedia Travels, Interactive Week and eShopper. Smart Business was turned into an information bulletin, and it´s staff was mostly fired. The company continues to publish PC Magazine, it´s drawing makes 1.23 million. Besides, there are also three technological magazines and five game editions, including the recently announced Xbox Nation.
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