Ziff Davis

industry

Court Confirms Ziff Davis' Bankruptcy Plan

A U.S. Bankruptcy Court has OKed 1Up and EGM owner Ziff Davis' bankruptcy reorganization plans, the company said today, adding that it expects to emerge from Chapter 11 on July 1.

“The Court’s confirmation of our Plan is a major milestone for Ziff Davis as we look to emerge from Chapter 11 restructuring,” said Jason Young, Chief Executive Officer of Ziff Davis Media. “We are very proud of the progress we have made during our short time in Chapter 11 to become a healthier company. We remain grateful for the unwavering support of our customers, vendors and employees throughout this process and we look forward to continuing our work with all of our stakeholders after our emergence. After concluding our restructuring, we will be better positioned, with the financial strength to grow and capitalize on our strengths.”

The plan, in a nutshell, splits the $428 million in debt between new stock and a $57.5 million debt.

I'm happy to see that both 1Up and EGM survived the turmoil. Let's hope that they both recover as stronger entities than when ZD first filed.

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11:00 AM on Wed Jun 18 2008
By Brian Crecente
1,631 views, 43 comments

ziff davis

1UP VP Explains The Positives Of Ziff Davis Bankruptcy

Simon Cox, Vice President of Content for the 1UP network, writes in his official 1UP blog that parent company Ziff Davis filing for bankruptcy isn't all gloom and doom. It's not like the staff of 1UP and EGM are going to be working out of refrigerator boxes when and living off government cheese. Business is, well, business as usual and bankruptcy can be a positive thing. How's that again, Mr. Cox? More »

4:40 PM on Thu Mar 6 2008
By Michael McWhertor
4,647 views, 26 comments

egm

Ziff Davis Files For Bankruptcy

The publisher of EGM, Games for Windows: The Official Magazine and 1UP.com has filed for Chapter 11 bankruptcy in a Manhattan court today, in an attempt to restructure its sizable, long-term debt. Ziff Davis has, according to Bloomberg's report, filed papers indicating it has somewhere between $500 million and $1 billion in debt, with previous reports pegging the debt at around $400 million.

The company has tried to negotiate its substantial debt out of the courts before, following a missed interest payment last summer. Over the past four years, the company had shuttered some of its publications, including the Official PlayStation Magazine and GMR, but continues to publish print properties like eWeek and PC Magazine as well as nearly twenty technology and entertainment web sites.

While we don't know much about the financial health of its video gaming properties, we have heard that the 1UP Yours podcast will be scaled back to a lean three hours in an effort to cut costs. A temporary setback, we hope.

Ziff Davis Media Files for Bankruptcy to Cut Debt [Bloomberg]

3:40 PM on Wed Mar 5 2008
By Michael McWhertor
4,999 views, 107 comments

rumor

Ziff Davis Picks On Tiny Brazilian Site Over Leaked SFIV Pics [Updated]

Yesterday a tiny little Brazilian gaming site called Blogeek run by Douglas Pereia stumbled upon some new information and screens of Capcom's Street Fighter IV, which were due to be revealed in the next issue of EGM, which will surely grace bathroom floors across the country when it comes out. Gaming websites around the world - including Kotaku - picked up the story and ran with it. Douglas received the information from an anonymous source, but it all looks and feels legit. Well now said information has been confirmed in the form of a threatening e-mail to Douglas from André Forastieri, the boss of Futuro Comunicação, the publisher of the Brazilian EGM.

"The content you posted in the site blogeek is property of Ziff Davis, given from Capcom only to Ziff Davis and EGM issues, with embargo for the publications. Your publication of this subject is theft of intellectual property and should have immediate legal consequences. Ziff Davis and Futuro want you to cut off the content form your site immediately."

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5:00 PM on Fri Dec 7 2007
By Mike Fahey
23,726 views, 124 comments

Latest by RadarScope1: This is part of the reason it's so hard to trust what's said on blogs. There's zero reflection time or fact-checking. It's killing everything from major newspaper and magazine sites on down to gaming sites. I take everything with a TON more »

ziff davis

Can Print Gaming Media Survive? Maybe.

With online video game news coming from powerhouses like IGN, 1UP and Gamespot, can old fashioned glossy print media survive? How can once-monthly publications compete with up to the minute news sources, say, for instance Kotaku, and established gaming media updating throughout the day? That's the focus of the New York Times look at print publishers Ziff Davis Media and Future US, both of whom publish not only on paper, but online as well. More »

5:20 PM on Mon Nov 12 2007
By Michael McWhertor
3,313 views, 95 comments