Ziff Davis Media Files for Bankruptcy
Posted by Christopher Cossey on March 8, 2008
via Game|Life
In a move that was to apparently aid in the “restructuring of the company and reduce its debt”, the parent company of the 1up Network and it’s printed publications, Electronic Gaming Monthly and Games For Windows Magazine, Ziff Davis Media Inc. filed for chapter 11 bankruptcy in New York this last Wednesday. This shouldn’t affect the highly popular gaming publications too much though. Hopefully.
This is the latest in a series of dodgy financial maneuvers the enthusiast media company has made to “reduce its debt”. Last August ZD Media skipped an interest payment on their rather large debt, now I guess they’re trying to expunge themselves of it all together. There goes Ziff Davis’ [financial] credit!
