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She would not comment on whether the agreement would delay any potential bankruptcy filing.
News of a potential bankruptcy filing was reported earlier by Reuters.
Company officials had no comment on the potential bankruptcy, but acknowledged that there would be a financial restructuring by Friday.
Bear Stearns, facing potential bankruptcy, was bought by JPMorgan Chase & Company in the spring and many of its workers lost their jobs.
The potential bankruptcy, which will give the company new financing and operational flexibility, could make clients less eager to advertise in Ziff Davis Media's remaining nine magazines.
BY helping Bear Stearns avert a potential bankruptcy, the federal government essentially declared the venerable investment bank too important to fail.
"Given all the talk about potential bankruptcy, we are concerned that PG&E used a stealth move to shield assets," Mr. Lockyer said.
It is frightened investors protecting themselves by buying credit-default swaps — a financial insurance policy against potential bankruptcy — at prices 30 times what they normally would pay.
CityCenter had hired the Dewey & LeBoeuf law firm to prepare a potential bankruptcy filing even as MGM Mirage, Dubai World and lenders continued negotiations.
Six Flags has hired the boutique investment bank Houlihan Lokey to advise it on restructuring and the law firm Paul Hastings to prepare for a potential bankruptcy filing.
As for Independence, it reported to the Securities and Exchange Commission recently that it was making contingency plans for a potential bankruptcy filing.
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