Ziff Davis MEDIA files Chapter 11

Ziff Davis Media logoI just read the news that Ziff Davis Media is filing for Chapter 11 bankruptcy protection. I worked at Ziff Davis until July 2007, but on the Ziff Davis Enterprise side of the company, as opposed to the Ziff Davis Media side of the business, a distinction that I’m sure the enterprise folks will be working hard to make in the next few weeks.

Ziff Davis Enterprise – which was spun off from Ziff Davis proper at the end of July 07 when it was sold to Insight Venture Partners – is made up of the Web Buyer’ s Guide, eWeek and the eSeminars groups. Ziff Davis Media is comprised of the Consumer (PCMag.com, ExtremeTech) and Gaming (1Up) sides of the business.

It’s too bad that this day came, but I doubt that many people at the company (or in the industry) are surprised. Ziff Davis Media has had trouble with its debt for a few years now, and the selling of the Enterprise group was seen by many as the last chance for Willis Stein to salvage some money it invested when it bought the company for about $780 million in 1999. As the consumer and enterprise groups were splitting, those of us on the enterprise side of the company almost had the feeling of abandoning a sinking ship, that the Enterprise Group was taking the one opportunity it had to get off the boat before it went down for good.

Related Posts