Business News

Penton Media Emerges From Reorganization

Friday 12. March 2010 - enton Media, a leading business-to-business media company, announced today that its "pre-packaged" plan of reorganization, which was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on Friday, March 8, has become effective, and the Company has officially emerged from Chapter 11.

Penton completed this capital restructuring in less than thirty days.

The capital restructuring resulted in the elimination of more than $270 million of long-term debt and an extension of the maturity on the Company’s senior secured credit facility through 2014. In addition, certain of Penton’s existing shareholders made a significant new investment in the Company, which will provide additional working capital to fund operations and improve Penton’s overall liquidity.