Ch. 11 Filing Imminent For Penton Media

Law360, New York (February 9, 2010, 4:56 PM EST) -- Business-to-business media company Penton Media Inc. said Tuesday that it was headed for bankruptcy protection and would lodge a prepackaged Chapter 11 plan as part of a reorganization that aims to reduce the company's debt by $270 million.

Penton Media spokesman Warren Bimblick told Law360 that the bankruptcy filing would take place in New York, where the company is based, in the next couple of days. The company expects to emerge from bankruptcy 30 to 45 days after that.

Penton reached an agreement with its lenders...
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