Saddled with debt, comdex operator looks for way out. (Wall Street West).The annual Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. trade show, the world's biggest computer and information-technology event, is owned by struggling Key3Media Group Inc., the Big Board-traded company based in the mid-Wilshire district of Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . Is Comdex up for grabs? Key3Media's stock has sagged to about 30 cents a share last week, from more than $10 a year ago. The company's $300 million in bonds are trading at under 40 cents per dollar of face value -- a sign that restructuring lies ahead, bond traders said. "These are 11.25 percent bonds maturing in 201 1," said one trader. "The effective yield is more than 30 percent. That tells you something has got to give." But what? Company officials last week wouldn't say. "All I can tel] you is that we are talking to Noun 1. talking to - a lengthy rebuke; "a good lecture was my father's idea of discipline"; "the teacher gave him a talking to" lecture, speech rebuke, reprehension, reprimand, reproof, reproval - an act or expression of criticism and censure; "he had to a lot of people, and looking at a lot of different options;' said Rick Moore, a company spokesman. Rumors have circulated that Key3Media held exploratory merger talks with Cleveland-based Advanstar Communications Inc., another trade-show and publishing outfit, but the talks dead-ended. Last November, Comdex attendance fell to 125,000 from 200,000 a year earlier. In past years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time event has been so heavily attended that hotel rooms in Las Vegas have sold out and cell phones jammed. Contributing columnist Benjamin Mark Cole Mark Cole is a multi-instrumentalist blues and roots musician based in Gloucester, UK Music Mark primarily writes and performs blues music but also writes and performs music influenced by other American roots music genres such as americana, cajun, zydeco, bluegrass and writes about the local investment community for the Los Angeles Business Journal. He can be reached at sevencontinents@mindspring.com. |
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