Penton officially emerges from Chapter 11

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New York—Penton Media announced Wednesday that it has officially emerged from Chapter 11 bankruptcy protection.

The company’s “prepackaged” plan of reorganization was confirmed by the U.S. Bankruptcy Court for the Southern District of New York last Friday. The capital restructuring shores up Penton’s balance sheet by eliminating about $270 million in debt. Additionally, some Penton shareholders invested new capital in the company.

Penton Media is one of several business media companies—including ALM, Cygnus Business Media and Questex Media—to undergo financial restructuring in the past year.

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