TITLE

Dunning buys Ziff-Davis; faces 25.3% ad page drop

AUTHOR(S)
Kerwin, Ann Marie
PUB. DATE
December 1999
SOURCE
Advertising Age;12/13/1999, Vol. 70 Issue 51, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that James D. Dunning Jr. and Willis Stein & Partners agreed to purchase Ziff-Davis Publishing as of December 13, 1999. Mr. Dunning and Chicago-based investment firm Willis Stein & Partners agreed to purchase the technology magazine publisher from Ziff-Davis Inc. for $780 million in cash. The final price fell below the $1 billion many investors believed the publishing unit would fetch. A critical aspect of the deal is the contractual relationship Ziff-Davis Holdings will have with ZDNet, the online unit kept by Ziff-Davis parent company Softbank Corp. ZDNet retains the right to use Ziff-Davis Publishing content online for five years in return for a royalty fee.
ACCESSION #
2582252

 

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