The Reboot

PodTech’s Rio Pesino on anything and everything gaming. Point blank period.

Ziff Davis Media Files for Chapter 11

Ziff Davis Media, known for its Electronic Gaming Monthy and Games for Windows magazines as well as gaming website (their video podcast, The 1up Show, is available for your viewing pleasure at the top of this post) has filed for Chapter 11 bankruptcy. The decision is part of a restructuring plan designed to get rid of about 400 million dollars in long-term debt. In a press release sent out today, CEO Jason Young says they will “continue to be print category leaders in the markets we serve.” Does this mean EGM will still be churning out issues despite Ziff Davis’ decision to file for Chapter 11? I’ve been a fan of the mag since I was a kid and although it’s not as good as it once was, I’d hate to see it pulled from store shelves.

1 Comment so far

  1. AzNheadbanger March 6th, 2008 11:43 am

    While thats scary news it doesn’t mean the company will be out of business. Airlines file for Ch. 11 all the time. What it does is reorganize all the debt so they pay to one trustee as opposed to a bunch of creditors. This doesn’t mean that Ziff Davis isn’t in trouble, because they need to figure out how to get more money soon. I got a free year subscription to EGM through a special on Kotaku, but I think that is supposed to entice me to subscribe after the year is up. Unless the magazine’s quality goes up soon I’m not gonna be resubscribe.

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