Blog Post

Ziff Davis Restructuring Debt; Won't Make Interest Payments

Ziff Davis Holdings, which recently sold off a chunk of itself, still doesn’t have enough cash. The company is exploring a debt restructuring (it has about $390 million in debts) and has decided not to pay an interest payment due today. On July 31, Ziff Davis closed a deal to sell Ziff Davis Enterprise, which publishes magazines such as eWEEK and CIO Insight, as well as websites, for about $160 million to Insight Venture Partners. Ziff Davis, which still has consumer small business and gaming publication divisions, says it “expects to conduct business as usual while it explores its restructuring options.” Would that mean a possible Chapter 11 bankruptcy protection? Not that they’re saying anything yet, but new CEO Jason Young told Folio: