Content area
Full Text
Shelters expensive start-up channel from publishing unit
Investors looking to get a piece of start-up network ZDTV as part of the Ziff-Davis computer magazine initial public offering will have to wait awhile. The computer channel has been separated from the publishing unit to shelter the deal from stiff losses.
ZD Inc.'s new filings with the Securities and Exchange Commission show that ZDTV and techie Internet site ZDNet have both been segregated from the newly public company, tucked away inside the personal holding company of Masayoshi Son, president of ZD parent Softbank. However, the publishing unit may buy the TV operation if it gets a distribution boost by December.
ZD last week kicked off an investor road show to pitch the IPO, which seeks to raise as much as $438.6 million by selling 25.8 million shares. The expected price range is $14-$17 per share. At the same time, the company is selling $250 million worth of bonds...