The $780 million deal for Ziff Davis Media is Mr. Dunning and Willis Stein's biggest, and is also the largest single investment among the $3 billion in Willis Stein's three equity funds.
According to , Ziff Davis Media has made an agreement with an ad hoc group of noteholders, who will provide $24.5 million to fund the company’s operations and help plan the restructure.
The restructuring, if approved by the court, would reduce Ziff Davis Media’s $225 million senior-note debt. That amount will be exchanged for a new $50 million (face amount) senior secured note and at least 88.8% of the common stock in the reorganized company. In aggregate, the company has a total of $400 million in debt.