PE-Backed Summit Business Media Files Chapter 11

New York-based Summit Business Media Holding, which is controlled by Chicago-based private equity firm Wind Point Partners, has filed for Chapter 11 bankruptcy protection after agreeing with creditors on a plan to eliminate $140 million of debt from its balance sheet, Reuters reported. The company publishes 16 magazines, 20 websites and 150 reference titles, Reuters said. Wind Point Partners controls 85% of the company’s equity.

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