Answers Corp., which owns the Answers.com and Multiply websites, filed for chapter 11 protection on Friday with a plan to swap ownership of the company to creditors who are owed about $540 million, according to court documents, Reuters reported. Answers was acquired by Apax Partners, a European private equity firm, for about $900 million in 2014. The company rebranded itself last year as Multiply, a "fan engagement platform" that connects celebrities and their followers. St Louis-based Answers also owns ForeSee, which provides customer surveys, and Webcollage, a platform for website publishing. Under the company's plan, Answers will lower its debt by $471 million, according to documents filed in Manhattan's U.S. Bankruptcy Court. The plan has already been approved by 98 percent of Answers creditors.
