By inmedia
Under the banner “The Death of Print,” Gawker today reported the filing by Ziff Davis Media for bankruptcy protection. Ziff Davis is responsible for PC Magazine, among other gaming and technology titles. Upon reviewing the filing and the coverage this news has received so far, we’re relieved to see that not all the titles under the Ziff Davis Media banner, including those under the Ziff Davis Enterprise label like eWeek, Baseline and CIO Insight, are in jeopardy. A post on the Ziff Davis Enterprise web site by its CEO highlights in bold that “Ziff Davis Enterprise and Ziff Davis Media are not the same company.” Still, this leaves even fewer outlets in an ever-shrinking media universe through which our clients can communicate to their markets.
And this development is a continuation of the sad state of affairs for the struggling print industry that seems to produce a fresh corpse almost every day. As Gawker pointed out, “Print revenue for ZD fell from $215 million in 2001 to $40 million in 07. Now they owe creditors about $200 million more than they have.” The bursting of the tech bubble had repercussions from which a lot of companies, including media outlets, are still reeling.
