NEWTON, MA (December 2009) - QMG Holdings, Inc. and Questex Media
Group, Inc. announced today that they have completed the previously announced
“363 sale” of their businesses to a new company held by a group of their senior
lenders. The new company, named Questex Media Group LLC, has its own financing
and is not subject to Chapter 11 cases filed by the predecessor companies.
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. Questex Media Group LLC is headquartered in
Newton, MA.
The company will be led by its existing executive leadership along with the
existing management teams of its business units. Questex Media Group LLC's
President and Chief Executive Officer Kerry Gumas said, “We are thrilled to
complete the financial restructuring and provide a new future for our
businesses. I would like to thank all of our dedicated employees, loyal
customers, partners, advisers and our senior lenders and investors for their
contributions to the success of this process. We now have the opportunity to
move forward with strong financial footing to continue delivering great products
and services for our customers.”
The members of Questex Media Group LLC were advised by legal counsel, Weil,
Gotshal & Manges LLP; and investment bankers Imperial Capital, LLC. QMG
Holdings, Inc was advised by legal counsel, Kirkland & Ellis LLP; and investment
bankers Miller Buckfire & Co., LLC.
About Questex Media Group LLC
Questex Media Group LLC is a global, diversified business-to-business media
organization serving multiple industries including hotel and hospitality,
travel, technology, beauty, spa, among numerous other specialty industries with
its well-established, market-leading, events, publications, digital and
interactive media, research, and other marketing and media related services. The
company’s combined operations include approximately 400 employees in offices
throughout North America, South America, Asia and Europe. For more information,
visit
www.questex.com.
