The publisher of Broadcast Engineering and Radio magazine files Chapter 11

NYC-based Penton Media announces it will file a “pre-packaged” Chapter 11 bankruptcy within the next few days. The trade magazine publisher says despite the filing, things will be business as usual and that it currently has enough cash flow to meet all obligations, and will continue with plans for industry trade shows. Crain’s Cleveland Business reports the company’s reorganization will eliminate about $270 million in debt. There will be no management changes and “employees will continue to be paid and receive their benefits without interruption.” Penton Media publishes over 100 magazine titles, including Broadcast Engineering and Radio magazine.

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