Ziff Davis Media, creditors reach agreement on Chapter 11 reorganization

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New York—Ziff Davis Media said Tuesday that it has reached an agreement with creditors on a reorganization plan.

The company said the plan will provide it with sufficient cash to emerge from Chapter 11 bankruptcy.

Under the terms of the agreement, more than $428 million in Ziff Davis Media’s funded indebtedness will be converted into new common stock in the reorganized company and a new note that will not exceed $57.5 million.

The company expects to exit Chapter 11 in June.

—Matthew Schwartz

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