Ziff family ordered to pay $55.4m damages to PC Mag founder
Reneged on deal
Ouch! the Ziff family has to cough up $55.4 million damages because its publishing house broke a promise to the founder of PC Magazine. Ziff-Davis had promised Anthony Gold that it would grant 80 per cent discount and free access to PC Magazine's mailing lists to his mail-order company, the now defunct, PC Brands. But it reneged on the deal, a Chicago jury found. Settlement has been a long time coming for Gold -- he filed suit against Ziff-Davis in 1988. And he's going to have to wait a little longer for his dough. Ziff family lawyers say they will appeal if they fail to overturn the verdict in post-trial motions. Damages were awarded against the sons of the late Bill (as in Billionaire) Ziff, through their investment vehicle Ziff Brothers Inc. They retained liability for the lawsuit, after selling ZD to Softbank. ®
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