Ziff-Davis Asset Sale
In 1953, William B. Ziff, Jr. (age 23) was thrust into the publishing business when his father died of a heart attack. In 1982, Ziff was diagnosed with prostate cancer so he asked his three sons (ages 14 to 20) if they wanted to run a publishing empire. They did not. Ziff wanted to simplify the estate by selling some of the magazines. In November 1984, CBS bought the consumer group for $362.5 million and Rupert Murdoch bought the business group for $350 million.
This left Ziff-Davis with the computer group and the database publisher (Information Access Company.) These groups were not profitable. Ziff took time off to successfully battle the prostate cancer. (He lived until 2006.) When he returned he focused on magazines like PC Magazine and MacUser to rebuild Ziff-Davis. In 1994 he and his sons sold Ziff-Davis for $1.4 billion.
Read more about this topic: Popular Electronics
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