Ziff sells 64% of ZDTV to Paul Allen

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Ziff-Davis will sell its 64% interest in ZDTV to Vulcan Ventures, the company founded by Paul Allen that already owns 33% of ZDTV. Vulcan will pay $204.8 million. ZDNet and ZD Publishing are both expected to reach sale agreements by yearend. Investor James Dunning, backed by Willis Stein & Partners, and Hearst Business Media are said to be lead contenders for the publishing unit; Yahoo! is mentioned as a potential ZDNet buyer.

Copyright November 1999, Crain Communications Inc.

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