The publisher, Penton Media, will reorganization under Chapter 11. Penton Press is the parent company of such trade magazines as American Printer and Paper, Film & Foil Converter magazines. The publisher had more than $1 billion in liabilities and the assets reported were between $500 million and $1 billion, according to court documents.
....another one bits the dust. Very difficult environment as well. Very good write ups, I enjoy reading these releases
ReplyDeleteI understand Penton will now restructure and come out of bankruptcy in record time. I assume the unsecured creditors got killed! But, a publisher lives on to produce magazines.......
ReplyDelete