ZD Inc., Ziff-Davis (ZD) Message Board

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Technology Stocks : ZD Inc., Ziff-Davis (ZD)

ZD 32.80

+3.1%

3:59 PM EST

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To: David Cal who wrote (473)	3/12/1999 3:20:00 PM
From: Manny	Read Replies (1) of 855

Whats with the vote on the spinoff? Yahoo news has following news. I am confused! Isnt the spinoff already planned? I thought the IPO was going to be in week of Mar 29. So, can someone tell me what this vote all about?? ------------------------ Friday March 12, 12:12 pm Eastern Time Ziff-Davis shares rise as vote on spinoff is set NEW YORK, March 12 (Reuters) - Shares of the computer magazine publisher Ziff-Davis Inc. (NYSE:ZD - news) hit a 52-week high Friday morning after the company said it would hold a special shareholder meeting March 30 to vote on the proposed spinoff of part of its ZDNet online business. Ziff-Davis shares reached a high of 24-5/16 before settling back to 23-5/8, up 7/16 on the day. The previous 52-week high was 24. Last month the company said it would spin off a 15 to 20 percent stake in ZDNet in an initial public offering. ZDNet's online channels provide technology news, entertainment and e-commerce services. Ziff-Davis, the No. 2 U.S. computer magazine publisher, closed three of its publications in the 1998 fourth quarter. It previously said it expected 1999 revenues to be flat with 1998's $1.11 billion.

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