Source: Company Press Release
 
NEWTON, MA –  QMG Holdings, Inc. and Questex Media Group, Inc.announced today that they have completed the previously announced “363 sale” of their businessesto a new company held by a group of their senior lenders. The new company, named Questex MediaGroup LLC, has its own financing and is not subject to Chapter 11 cases filed by the predecessorcompanies.
 
Questex Media Group LLC is the operating company that now owns and operates business unitsInfoTrends, FierceMarkets, FiveStarAlliance, ImagingNetworks, Oxford Publishing, McLean EventsInternational Ltd and all related Questex magazines, online media and event brands. The newcompany will operate with an improved capital structure and increased financial flexibility to betterposition it for future growth. Questex Media Group LLC is headquartered in Newton, MA. Thecompany will be led by its existing executive leadership along with the existing management teams ofits business units.
 
Questex Media Group LLC's President and Chief Executive Officer Kerry Gumas said, “We are thrilledto complete the financial restructuring and provide a new future for our businesses. I would like tothank all of our dedicated employees, loyal customers, partners, advisers and our senior lenders andinvestors for their contributions to the success of this process. We now have the opportunity to moveforward with strong financial footing to continue delivering great products and services for ourcustomers.”
 
The members of Questex Media Group LLC were advised by legal counsel, Weil, Gotshal & MangesLLP; and investment bankers Imperial Capital, LLC.
 
QMG Holdings, Inc was advised by legal counsel, Kirkland & Ellis LLP; and investment bankers MillerBuckfire & Co., LLC.