Ziff Davis, a publishing leviathan which has and has had a strong presence in computer periodicals, might declare bankruptcy by week's end, according to a published report.
ZD, according to the report, has been telling advertisers that it is likely to declare bankruptcy this week. The story cites three unnamed sources said to be familiar with the situation.
Earlier, the company ceased publication of its "Yahoo! Internet Life" magazine and five other of its publications..
The talk of bankruptcy follows failure of a debt restructuring plan to achieve needed backing from the holders of company debt. The Chapter 11 restructuring, the company hopes, will allow it to survive. The company has shut down all but nine of its magazines in recent months, consigning six of its titles to history.
The new plan for ZD's survival, according to the report, involves additional focus on gaming and youth-related topics, and less on mainstream technology.
Ziff Davis publications include PC Magazine, eWeek, CIO Insight, Baseline, Extreme Tech, Official U.S. Playstation Magazine, Xbox Nation, Electronic Gaming Monthly, GameNow, Computer Gaming World, and Microsoft Watch.
The success of Ziff Davis's restructuring depends on the continued loyalty of advertisers, which is not assured should the bankruptcy move forward.
Though Ziff Davis founded ZD Net, a site familiar to computer professionals and hobbyists, the site is now published by CNET.
To me this is the end of an era if it comes true. I pretty much started my very first marketing in the high tech industry with a 1/4 page ad in PC Magazine in October 1987. Wow. Shocking.