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Willis Stein completes buy of ZD Publishing

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Willis Stein & Partners announced today it has completed its acquisition of Ziff Davis Publishing from Ziff-Davis Inc. for $780 million. James D. Dunning Jr. was officially named chairman-president-CEO of the new company, which will be called Ziff Davis Media Inc. Dunning, who is also chairman-president-CEO of the Ziff Davis Media division of Ziff Davis Publishing, unveiled a new corporate structure for the company, which will be divided into business and consumer units. Al Perlman will be president of the business magazine group, which includes Smart Reseller and Inter@ctive Week. Jim Spanfeller will be president of the consumer magazine group, which includes PC Magazine and Yahoo! Internet Life. Tom McGrade will be senior exec VP-COO of Ziff Davis Media and Ziff Davis Publishing. Dunning also announced the company will launch Ziff Davis Internet Inc. to develop new Web sites and e-commerce initiatives, and Ziff Davis Development Inc., to create new magazines and events.
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