Rumours regarding the fate of Comdex and show promoter Key3Media
Group are almost as common as product announcements at the trade
show in Las Vegas.
Yet sources attending a Bear Stearns private dinner party for some
of the industry elite on Monday night claimed that the end of
Comdex as we know it is at hand.
One source claimed exhibition company Deutche Messe, which holds
the CeBit show in Europe, would take over the autumn show in Las
Vegas.
CeBit has already taken charge of the PC Expo show in June and will
hold the first CeBit in the US on 18 June.
Other rumours circulating at the show suggest Shelly Adelson,
founder and former owner of the Comdex event, will regain control
of the show at a knockdown price.
Rick Moore, vice-president of public relations at Key3Media, said
another rumour that Key3Media had filed for Chapter 11 bankruptcy
protection was "absolutely not true". The likelihood that a
bankruptcy filing, a matter of public record, could be kept secret
is problematic, he added.
However, Moore did say Key3Media is about $300m (£190m) in debt
despite the fact that this year's Comdex event will "make
money".
"The company has too much debt on the books and among our options
is a merger or acquisition," said Moore.
Filing for bankruptcy is more likely to happen when a potential
partner or buyer works out a deal with Key3Media creditors and the
bankruptcy court.
Comdex attendance appears to be down with shorter cab lines and
fewer vendors. Key3Media executives admitted there were about 250
fewer exhibitors than last year.