Ziff-Davis IPO Brings in $399.9M

Share this article:
Hi-tech publisher Ziff-Davis Inc., New York, generated $399.9 million in its initial public offering April 29, making it the second-largest IPO of the year. But the publisher of PC Magazine, PC Week, Computer Shopper and the ZDNet.com Web site did not start off as well as some analysts predicted because the attraction of its Internet presence was offset by the announcement that it would assume $2.5 billion in debt from parent Softbank Corp., Tokyo. Ziff-Davis chairman and CEO Eric Hippeau said the company will use part of the money from the IPO to repurchase ZDNet and other properties from Softbank. The company also will unveil ZDTV, a 24-hour computer-information cable channel, May 11. Ziff-Davis (ZD), which trades on the New York Stock Exchange, opened at an asking price of $15.50 and closed April 30 at $18.
Share this article:

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

Publicis Launches New Digital Agency

Publicis Launches New Digital Agency

Roar, an amalgam of top digital talent from across Publicis Groupe, will be led by Zenith OptiMedia veteran Sean Reardon.

RAPP Names Orlov CEO

RAPP Names Orlov CEO

The Volkswagen marketing executive is a veteran of Wunderman and WPP.

Hawthorne Opens Mobile Unit, Names Digital Director

Hawthorne Opens Mobile Unit, Names Digital Director

Jared Lake moves over from M&C Saatchi Mobile to head the new unit.