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DigitalLife Dead This Year


DigitalLife is a trade show that is put on by Ziff Davis Media at the New York Jacob Javitz Center, which typically included technology and video games, but seems to be cancelled for this year because of a bad economy. Vice President Paul O’Reilly said the following during an interview:

The poor economic conditions have created a very different and difficult dynamic for us this year, and we weren’t confident that we could present a show experience that was consistent with the successes of prior years.

I can say that as a previous attendee last year this show was dying, he goes on to say:

Hopefully, a bigger and stronger DigitalLife will return in 2009. We will make additional announcements about the future of the show when details are available.

I would love for his last statement to be true since this show is very accessible to everyone on the East coast and it would be great to have something that could rival E3 or CES on the East coast as well, but it seems like a big stretch especially after the news of this years cancellation.

[Via Cnet]

Ziff Davis Files for Bankruptcy

EGM Image

Ziff Davis, parent company to EGM, Games for Windows magazine, and the 1up Network, has filed for bankruptcy. Don’t worry, they aren’t going under, just using this as an out to reduce a shit-ton of debt.

Ziff Davis Media plans to swap $225 million of existing senior debt for a new $57.5 million senior secured note and at least 88.8 percent of the common stock in the reorganized company. The New York-based company has a debt-restructuring agreement with senior noteholders, it said today in a statement. Subordinated noteholders haven’t agreed to the restructuring.

That’s a lot of debt. Looks like someone got tired of credit agencies calling in. Hopefully this works out for them.

[via Bloomberg]