The new company, which comprises senior lenders of the predecessor companies, has separate financing and is not subject to the Chapter 11 cases filed by QMG Holdings or Questex Media Group Inc. The newly formed company now owns Questex's magazines, online media and events as well as InfoTrends, FierceMarkets, FiveStarAlliance, ImagingNetworks, Oxford Publishing and McLean Events International.
“We are thrilled to complete the financial restructuring and provide a new future for our businesses," Questex Media Group LLC President-CEO Kerry Gumas said in a statement.
Questex is not alone in restructuring. Other b-to-b media companies that have restructured their debts in some way this year include Cygnus Business Media and Advanstar. Additionally, Penton Media confirmed earlier this year that it is exploring a restructuring of its debt.