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Article: Ziff Davis coming unzipped; Can Dunning's ouster remedy financial woes?(Chairman-CEO Jim Dunning ousted)(Brief Article)
- Article from:
- Advertising Age
- Article date:
- August 20, 2001
- Author:
CopyrightCOPYRIGHT 2001 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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While the magazine industry was surprised by Ziff Davis Media's sudden ousting of Chairman-CEO Jim Dunning on Aug. 13, no one was more surprised than American Media CEO David Pecker.
Mr. Pecker, whose company is based in Boca Raton, Fla., had flown to Ziff Davis' New York digs that day to meet with Mr. Dunning to discuss a deal to acquire Ziff's consumer titles. Mr. Pecker was waiting outside Mr. Dunning's office at 5:30 p.m. when Avy Stein, a board member and now the company's acting CEO, told him that the titles were not for sale, and that Mr. Dunning no longer worked at Ziff Davis.
Mr. Pecker had been willing to ante up $100 million to $150 million ...