Questex Media completes restructuring, closes sale to senior lenders

By Caroline Salls

Pittsburgh, Dec. 17 - Questex Media Group, Inc. has completed its financial restructuring and closed on the sale of its businesses to a new company owned by a group of its senior lenders, according to a company news release.

Specifically, Questex Media Group LLC is the operating company that now owns and operates business units InfoTrends, FierceMarkets, FiveStarAlliance, ImagingNetworks, Oxford Publishing, McLean Events International Ltd. and all related Questex magazines, online media and event brands.

The new company will operate with an improved capital structure and increased financial flexibility to better position it for future growth, the release said.

Questex said it will be led by its existing executive leadership along with the existing management teams of its business units.

"We are thrilled to complete the financial restructuring and provide a new future for our businesses," Questex Media Group LLC president and chief executive officer Kerry Gumas said in the release.

"We now have the opportunity to move forward with strong financial footing to continue delivering great products and services for our customers."

Questex Media, a Newton, Mass., business-to-business integrated media provider, filed for bankruptcy on Oct. 5 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-13423.

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