NY Times: Producer of Comdex Shows Is About to Seek Bankruptcy

My spin: Sad, but true. HOWEVER, I wonder if they were keeping their over head low, only spending with the money they had and exercising prudent business principles?
The technology trade show company Key3Media Group, crippled by the plunge of technology industries and cutbacks in corporate travel, is planning to file for bankruptcy protection today, the company said yesterday.
The company, which produces big trade shows like Comdex, Seybold Seminars, NetWorld+Interop and JavaOne, is proposing a reorganization plan that would be backed by the private equity arm of Thomas Weisel Partners and would keep it in business.
(full story)