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:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Agency

Are You Really Ready for Customer Experience?

Are You Really Ready for Customer Experience?

Marketers can talk a good game about customer centricity, but actions speak louder than words.

Essentials in Content Marketing: Think like a best-selling author

Essentials in Content Marketing: Think like a best-selling ...

Imagine if all the electronic content thrown your way daily was actually printed on paper. To stand out from those piles of worthless pixels, you must offer your audiences intriguing ...

The Mobile-Email Marriage

The Mobile-Email Marriage

Marketers who considered leaving email at the altar are finding renewed passion for the channel as an ever-increasing number of customers triage, read, and click-through email on their smartphones.