Ziff Davis Media Wins Access to Lender Collateral

HIL ANDERSON, SENIOR EDITOR
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New York, NY – Ziff Davis Media Inc. got the green light from a Federal bankruptcy court on March 31 to tap into up to $12 million in cash pledged as collateral to its lenders.

Ziff Davis Media, which filed for Chapter 11 bankruptcy March 5, had said in its petition to U.S. Bankruptcy Court that it needed the cash to maintain its operations while undergoing restructuring.

The petition was approved by Judge Burton Lifland in Manhattan on March 31, according to court records.

Ziff Davis Media publishes PC Magazine and organizes the DigitalLife and Electronic Gaming Summit events.

Reach Jason Young, CEO, at (212) 503-4678 or jason_young@ziffdavis.com