Questex Media Announced Bankruptcy

The b-to-b publisher announced a bankruptcy filing or restructuring on Monday. Questex said financing is in place to keep the business operating and that its current management team, led by CEO Kerry Gumas, will remain in place. Questex was formed in 2005 when Gumas teamed with private equity company Audax Group to acquire several market clusters from Advanstar for $185 million. Publications owned by Questex include: ComputerWorld Hong Kong, Telecom Asia, Wireless Asia, Network World Asia and FierceMarkets, which was acquired by Questex in January 2008.