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Ziff-Davis plans to spin off ZD Events

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New York--The final step in Tokyo-based Softbank Corp.'s dismantling of Ziff-Davis was announced Tuesday, with Ziff-Davis planning to recapitalize and spin-off ZD Events as a separate company. Ziff-Davis expects to form a holding company for ZD Events, which includes Comdex, Networld+Interop and Seybold Seminars. After paying off Ziff-Davis' remaining debt and a cash dividend to shareholders, the holding company would have a $400 million debt. Fredric D. Rosen, former chairman-CEO of Ticketmaster Group Inc., was named chairman-CEO of the ZD Events holding company. Jason Chudnofsky will be president-COO of the holding company, while continuing to serve as president-CEO of ZD Events. In an interview with BtoB, Rosen said he plans to give ZD Events a larger presence on the Internet with "virtual trade shows" that will make exhibitor information available around the clock. He also said ZD Events would likely mull a merger and acquisition strategy.
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