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Ziff Davis Files For Bankruptcy, Continues Normal Operations

Officials from Ziff Davis Media, owner of consumer press outlets 1up.com and Electronic Gaming Monthly, have announced that the company is filing for a voluntary bankruptcy to implement its restructuring plans, hoping to emerge from the Chapter 11 by this summer.

The company says that an ad hoc group of shareholders have set aside $24.5 million to continue normal operations as it undergoes the Chapter 11 case, as well as for operations after it re-emerges.

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gamasutra.com
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M337ING3245d ago

The beginning of the end of 1UP and GFW?

niall773245d ago (Edited 3245d ago )

I just registered to 1up

well If 1up goes under I hear GameSpot need reviewers :)

the ziff building is just down the street from Cnet Im told.

Chubear3244d ago

I have no pity for them. 1up/EGM are the FOX news of the gaming media. 'uck them all to heck.

Gothdom3244d ago

They deserve it. They suck...

sorry for my lack of eloquence, but your post sums it up just fine :P

SSCOOLCHEA3244d ago

lies , and crap reviews just to stir up a crowd will get you bankruptcy. There magazine was way cool until the crapbox arrived. after that there whole intention was to destroy the sony playstation . Your magazine aint cool no more when every freakin issue theres a story about HALO a game that a lot of people real dont care about.How do you have the proper review when all you shilheads are doing is playing HALO ?....

"" just my thoughts ""

RealityCheck3244d ago

Too bad for the employees.

There is a lesson here to be learned though. Objectivity = readers from broader audience and advertising from many sources. Biased = readers from narrow fan serving audience and advertising from less sources.

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