Is Ziff Davis Media Bankrupt?
The NYTimes reports that Ziff Davis Media is on the verge of bankruptcy and an announcement can be expected by the end of the week. Ziff Davis Media has not officially admitted bankruptcy so far, but spoke of 'financial restructuring measures'.
These restructuring measures should take effect from Friday this week. The debt of 450 million US dollars should be reduced by 155 million US dollars, but the necessary majority resolution, which provides for approval by 95 percent of the shareholders, was missing.
At Ziff Davis Media appears one hopes, however, that the company will be brought back on the right course by filing for insolvency and that it will be able to work economically again in the future through large-scale restructuring.
The announcement of the impending bankruptcy is said to have reached the public via the advertising customers of Ziff Davis Media, as they were unofficially informed about the company's situation in advance. You could still jump off. Out of 15 magazines, Ziff Davis Media had to discontinue six magazines in the past six months. The remaining nine magazines are sold in 45 versions in 76 countries around the world. Some readers are probably familiar with German-language magazines such as PC Professional, PC Direkt and Internet Professional. Primarily only the publishing house Ziff Davis Media is directly affected by the bankruptcy, since parts of it like the ZDNet have already been taken over by the CNET. However, since there is close contact and the ZDNet obtains content from Ziff Davis Media, restructuring could be inevitable due to the insolvency of the publishing house. At the end of the week, however, a little more light should come into the dark and then the cosquences can also be estimated more precisely