Wednesday, March 10, 2010

Now official: Penton emerges from bankruptcy

With a short statement, Penton Media announced that their pre-packaged reorganization plan, approved by the courts last Friday, had become effective today. The plan eliminates $270 million in long-term debt from the company's books.

Penton Media is attempting to swim against the tide as other major B2B publishers such as Nielsen Business Media and Reed Business Information are divesting properties.

In an encouraging sign, Penton was able to announce last week that one of its premiere trade shows, Natural Products Expo West was able to sign its 3013th booth for its show that starts tomorrow (March 11th), an increase over last year's show. A companion show, Natural Products Expo East, takes place in the Fall in Boston.