Jupitermedia launches Comdex rival
Published: 04 Feb 2003 16:43 GMT
Jupitermedia has announced plans to launch a rival technology show in Las Vegas, just a day after Comdex's parent company filed for bankruptcy.
Jupitermedia has booked the Mandalay Bay Convention Center for the new trade show, dubbed Computer Digital Expo Fall 2003. The two events will be held the same week in November, just blocks apart.
The company declined to offer any details about exhibitors, keynote speakers or other core elements of its show.
On Monday, Comdex parent company Key3Media announced that it had filed a prenegotiated Chapter 11 plan, part of a broader effort to reduce its debt. The company has suffered financially as the economy declined and attendance at its shows waned.
The plan calls for Key3Media to eliminate around 87 percent of its debt, dropping the total figure to $50m (£30.3m). Thomas Weisel Capital Partners will provide debtor-in-possession financing of around $30m and will end up owning about 99 percent of the recapitalised company.
Key3Media said that it expects to emerge from Chapter 11 within 90 days of filing and that all of its trade shows, including Comdex, Networld+Interop and JavaOne, should take place as scheduled. In September, the company had said it would cancel a number of shows for 2003.
The Las Vegas trade show has traditionally been a launching pad for the high-tech industry, with manufacturers turning the spotlight on new products and technologies. But in a sagging economy, companies have scaled back attendance.
Jupitermedia chief executive officer Alan Meckler said Key3Media's disarray presented an excellent opportunity for his company to make a move.
"In view of the uncertainty that this creates for Comdex, we are launching Computer Digital Expo to meet the (industry's) needs for such an event," he said in a release.
For further coverage of upcoming UK and international events go to ZDNet UK's Events channel.
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