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Ziff Davis files Chapter 11

Modeps

Modeps

Lifer
http://www.joystiq.com/2008/03...bankruptcy-protection/

Ziff Davis Media, publishers of EGM, Games for Windows Magazine, and 1UP.com, filed for Chapter 11 bankruptcy protection today, in an effort to get their house in order and pay off some of that $390 million in debt they were sitting on last August. What does this all mean? If approved by a court, Ziff will restructure to lighten its debt load ("a total of $400 million") and, theoretically, all of your video gaming properties should continue on with business as usual (we expect to hear as much from one of the 1UP guys in time). Jason Young, CEO of Ziff Davis Media, framed it this way: "Today's restructuring agreement goes a long way towards resolving the burdens of a debt load and capital structure established seven years ago, during a leveraged buyout of the company." More on this as we hear it.
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Wow, that's pretty big news. I've always loved EGM, and I actually enjoy 1Up's podcast (even though that Garnett Lee is a complete asshole).
 
I am surprised this hasnt happened long ago. Their mags are so spread out. And Ziff and Davis are both dead so I dont even know who is running the company. I gave up on some of their mags like PC computing when they started reviewing cell phones, headphones, mp3 players and othe "gadgets" not really related to "PC". There claim was PC was Personal Computing, not just Personal Computers. Either way, the mags are more like pamphlets today. For PC stuff I get PC Format, UK mag, which is way thicker has much more content than any US mag. In fact, most of my mags are from the UK.🙂
 
EGM was a good read. And the Games For Windows: Magazine was a great read (I loved CGW and they kept it pretty similar in GFW, except for the Microsoft-sponsored ads they added). The Official US PlayStation Mag was my favorite magazine ever. But really, with 1UP providing most of the same material, and IGN's gaming coverage, and N4G providing constant updates... I get almost all the same stuff one way or another.
 
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