E3 Halo game announce won't include Master Chief
Dyack says NeoGAF is "hurting games industry"
Firmware 2.40 still down, wait goes on for news
March 5th, 2008 @ 22:20
According to this, 1UP publisher Ziff Davis has filed for Chapter 11. In other words, it’s gone bancrupt.
“Ziff Davis filed for bankruptcy in the Southern District of New York court today as part of a debt restructuring plan,” said that report.”
“This agreement underscores our Senior Secured Noteholders’ confidence in our ability to position ourselves for continued profitable growth,” CEO Jason Young said in a statement. “Today’s restructuring agreement goes a long way towards resolving the burdens of a debt load and capital structure established seven years ago, during a leveraged buyout of the company.”
Hit that link right now.
Update: Here’s the press release.
Del.icio.us | Digg | Share on Facebook
You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
You must be logged in to post a comment.
March 5th, 2008 at 10:24 pm
Does this mean 1Up.com dies a horrible, fiery death?
March 5th, 2008 at 10:32 pm
Nah. Says in that press release that they expect everything to carry on as normal. Sounds a little “sketchy” though.
March 5th, 2008 at 10:46 pm
Not that I WANT that to happen, you understand. Just…y’know. It’d be big news, that would.
March 5th, 2008 at 10:47 pm
It all sounds like it’s just a plan to shrug off some debt. I reckon 1UP will be round for a while yet
March 5th, 2008 at 11:11 pm
arrghhh nooo they own 1up and filefront.
surely 1up can break off, so can filefront?
March 6th, 2008 at 8:40 am
When (cough) “the US arm of a company I know” filed for Chapter 11 it was just an excuse to sell all the assets to a new splinter company that they’d set up for 1pee and dump all their debts in the process.
Business is a rancid, evil world.
March 6th, 2008 at 8:43 am
Ja, sounds very similar. None of the publications are going to be affected at all, from the sound of it.
March 6th, 2008 at 9:22 am
That’s what happens when you makes fun of davemaster42, 1up.
March 6th, 2008 at 9:23 am
hahaha