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Court Approves Ziff Davis Disclosure Statement

Law360 (May 8, 2008, 12:00 AM EDT) -- A U.S. bankruptcy court judge has approved Ziff Davis Media Inc.'s disclosure statement and procedures on voting to accept the media company's reorganization plan.

U.S. Bankruptcy Judge Burton R. Lifland of the Southern District of New York approved the debtor's third amended disclosure statement, which involves Ziff Davis' second amended reorganization plan, on Wednesday.

Under the plan, more than $428 million in funded indebtedness will be converted to new common stock of reorganized Ziff Davis Media and a new note that will not exceed $57.5 million....
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