The company has been buffeted by declining attendance at its signature trade show, along with a slumping technology industry and dwindling public fascination with the personal computer.

Key3Media said its filing is part of a recapitalization plan that, if approved, would leave the company in the ownership of investment bank Thomas Weisel Capital Partners.

Under the plan, Weisel, which already owns a large portion of Key3Media's $372 million debt, would assume a larger share while providing the company with $30 million in debtor-in-possession financing