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December 2, 2009

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Comdex owner battling for financial survival

Tuesday, July 23, 2002 | 11:52 a.m.

The company that produces the Comdex computer convention in Las Vegas every year is fighting for financial survival and has been warned its stock could be delisted by the New York Stock Exchange.

In Business Las Vegas, a sister publication of the Las Vegas Sun, reported this week that Key3Media Group Inc., Los Angeles, is mired in debt and cutting corners to stay afloat.

Key3Media's woes are reflective of the state of the technology industry, which has been in a slump since early 2001. That slump and the travel downturn after the terrorist attacks resulted in Comdex attendance being down by 75,000 people, to 125,000 last year.

Two Key3Media executives, Fredric Rosen, chairman and chief executive officer, and Jason Chudnofsky, vice chairman and chief operating officer, have taken 40 percent pay cuts this year.

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