Ziff Davis may declare Bankruptcy

Discussion in 'Archived Threads 2001-2004' started by Joe michaels, Jul 28, 2002.

  1. Joe michaels

    Joe michaels Second Unit

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    Ziff Davis, publisher of game Magazines such as Electronic Gaming Monthly, Playstation, and Game now and PC magazine
    may be filing for Bankruptcy very soon....

    More to come...
     
  2. Nathan A

    Nathan A Second Unit

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    i need my EGM
     
  3. Joe michaels

    Joe michaels Second Unit

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    I don't think it's going anywhere..... I hope!
     
  4. Joe michaels

    Joe michaels Second Unit

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  5. ChrisMatson

    ChrisMatson Cinematographer

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  6. Joe michaels

    Joe michaels Second Unit

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    Sigh.
    This *is* new because IF you had read the story that I linked to you will see they are NOW PLANNING the bankruptcy as oppsode to just "MAY" *having* to declare bankruptcy.
    Oh, we *may* be invading Iraq soon so if we do, no posts regarding the actual invasion are necessary.......[​IMG]
    http://www.nytimes.com/2002/07/29/bu...tner=ALTAVISTA
    Note from administrator: for legal reasons, posting of entire articles from third party sources is restricted on the HTF. In future, resort to posting a portion of the article plus the link to the full thing, ot just the link.
     
  7. BrianB

    BrianB Producer

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    To be fair, in the US, bankruptcy for a company does not mean instant closure the way it does in many other countries - look at KMart for example.
     
  8. ChrisMatson

    ChrisMatson Cinematographer

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    Yes, the news of an imminent bankruptcy is "new," but the financial trouble is not. What I was trying to convey is that this should not have come as a surprise.
     
  9. Morgan Jolley

    Morgan Jolley Lead Actor

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    Damn. I like what ZD has done for us. They were bought by another company, though, weren't they? I remember ZDTV was changed to TechTV when they were bought out.
     
  10. Andy Sheets

    Andy Sheets Cinematographer

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  11. Oscar_R

    Oscar_R Second Unit

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    Are they a publicly traded company? i looked on yahoo finance but couldn't find a stock ticket for them. if you want real information as ooposed to speculation, look for their quarterly report.
     
  12. Brandon_H

    Brandon_H Stunt Coordinator

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    They are a publicly traded company, I believe, but either way, a report in the New York Times is hardly speculation. The gray lady knows of which she speaks.

    Plus, company execs already have announced a "financial restructuring." In English -- bankruptcy, likely Chapter 11, in which the company gets protection from creditors as it undergoes a court-monitored restructuring plan.
     
  13. Joe michaels

    Joe michaels Second Unit

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  14. ChrisMatson

    ChrisMatson Cinematographer

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    UPDATE:

    I just read in the Wall Street Journal that Ziff Davis has successfully completed a financial restructuring and will not be filing for bankruptcy protection. The article states that the company will "use its financial flexibility to invest in its core areas of information technology and electronic games." It sounds like we won't lose Gamespot after all. I'm glad that the company seems to be pulling through.
     
  15. Aaron Silverman

    Aaron Silverman Executive Producer

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    I already lost GameSpot when they started charging for access.

    Was it Imagine that was bought out by a European company a few years ago, and ended up having to shut down a bunch of good magazines?
     
  16. Rob Lutter

    Rob Lutter Producer

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    yes, RIP 'PCXL' [​IMG]
     

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