Ziff Davis Planning to File for Chapter 11 Bankruptcy Protection

March 6, 2008 at 12:01 am PT

Ziff Davis, the troubled trade media company which sold off its enterprise division last year, is now close to filing for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York, we have learned. The company has not been able to come to an agreement with its bond holders and stopped paying interest on its debt several months ago (announced in August). Of course, this means the PE firm and owner Willis Stein, which bought Ziff Davis in 1999 for about $780 million, will take a big hit.

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Tagged with: bankruptcy, paidContent.org, Rafat Ali, Willis Stein, Ziff Davis

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