Standard Media files for Chapter 11

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San Francisco--It's official. Just one week after shutting down The Industry Standard, parent company Standard Media International has filed for bankruptcy protection. The filing, made late Monday in Federal District Court in San Francisco, comes after Standard Media laid off most of its workers and ceased publication of the once high-flying Industry Standard. The bankruptcy court will oversee the sale of Standard Media's assets, including the magazine subscriber list, trademarks and physical assets such as computers and office furniture. Anne Marie-McGowan said there was "considerable interest" in the company's assets from financial advisors and media companies. Standard Media killed the publication after it failed to come up with a solution for its financial woes. The company said it would continue operating while it looks for a buyer.
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