LOS ANGELES-Key3Media Group, organizer of Comdex, Seybold Seminars, NetWorld+Interop and JavaOne trade shows, filed for Chapter 11 bankruptcy protection Feb. 4 in Wilmington, Del.
Key3Media, which hopes to emerge from Chapter 11 under its current management, said it would not cancel upcoming events this year, including Comdex in November.
The reorganization plan calls for Thomas Weisel Capital Partners, an investment bank that holds a substantial amount of the trade show organizer’s $372 million in debt, to assume a 99 percent ownership stake while also providing $30 million in debtor-in-possession financing. The process would convert Key3Media from a publicly traded to a privately held firm.
