Ziff Davis Limping Out Of Chapter 11

Once-proud publisher Ziff Davis has hammered out an agreement to get it out of bankruptcy protection. The upshot: $428 million in debt will get converted into new common stock and a new note “not to exceed $57.5 million.” In addition, the company will have a $24.5 million fund to keep it going while it’s in Chapter 11 – the court will be asked to approve the arrangement in June.

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See Also: Ziff Davis Crawls Into Chapter 11
Ziff Davis: Weak Quarter, More Pain Ahead
Ziff Davis Defaults, Tries To Stay Out Of Court

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