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Reader's Digest Publisher Succumbs to Bankruptcy Again
Fox News ^ | February 18, 2013 | Matt Egan and Barbara Kollmeyer

Posted on 02/18/2013 7:06:44 AM PST by Zakeet

Edited on 02/18/2013 7:09:13 AM PST by Admin Moderator. [history]

In a bid to slash $465 million of debt, Readerís Digest parent RDA Holding Co. filed for Chapter 11 bankruptcy over the weekend for the second time in less than four years.

The media company said it has reached a deal with its largest creditor, Wells Fargo (WFC), and more than 70% of its secured noteholders on a financial restructuring plan that includes the Chapter 11 filing.


(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: bankruptcy; economy; msm; publishing; readersdigest
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In for still more "complex transformation"

1 posted on 02/18/2013 7:06:50 AM PST by Zakeet
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To: abb
Life in these United States ping
2 posted on 02/18/2013 7:07:53 AM PST by Zakeet (Democracy is the art and science of running the circus from the monkey cage - Mencken)
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To: Zakeet

No more free bus rides to work in Chappaqua, I’m guessing.


3 posted on 02/18/2013 7:09:10 AM PST by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: Zakeet

"If you eliminate the third, fifth, and sixth letters, then it's 'Red's Digest', comrade."

4 posted on 02/18/2013 7:10:35 AM PST by dfwgator
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To: Zakeet

“I am Joe’s incompetent CEO”


5 posted on 02/18/2013 7:10:39 AM PST by P.O.E. (Pray for America)
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To: Zakeet

That’s the Reader’s Digest version.........


6 posted on 02/18/2013 7:11:04 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Zakeet

Did I read that in recent years Reader’s Digest has morphed into the most worthless piece of Marxist trash? If so,I say bravo!


7 posted on 02/18/2013 7:11:11 AM PST by Gay State Conservative ("Progressives" toss the word "racist" around like chimps toss their feces)
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To: Gay State Conservative

At some point around 2003, I was sitting there and attempting to read a Reader’s Digest...and here was a global warming story treated as absolute truth. Later in the same copy....a story over people with lack of health care.

The thing is....people that generally read Reader’s Digest are fairly naive and never question the stories in it. I put down the magazine. I think around 2008, at some Dentist office....I picked up a copy and saw the same type of material.

It’s basically drafted over in the past ten years to some trash document. The same issue came up with National Geographic. I think it’s mostly all bogus science and has little to do with geography. Both magazines are suffering from lack of readers and it doesn’t surprise me over their financial problems.


8 posted on 02/18/2013 7:16:22 AM PST by pepsionice
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To: pepsionice

I gave up on the National Geographic three years ago. I had been a subscriber since 1975, and have a complete collection that goes back to about 1950. The old ones are still worth reading and browsing.


9 posted on 02/18/2013 7:20:28 AM PST by abb
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To: Zakeet

I subscribed to Readers Digest years ago.

Was the best water-closet read.
The short ‘real-life’ stories and the one liner quotes all over the magazine.

Picked up one recently at the Dentist office and found none of the charm of the magazine from years ago.
Same with Yankee Magazine.


10 posted on 02/18/2013 7:23:03 AM PST by libertarian27 (FreeRepublic Cookbooks 2011 & 2012 - Click Profile)
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To: Zakeet

I dropped Reader’s Digest a few years ago after they started printing what amounts to love letters to the Obamas. They pestered me with offers of nearly free magazines for a year after that in hopes I would renew my subscription.


11 posted on 02/18/2013 7:25:31 AM PST by Wiser now (Socialism does not eliminate poverty, it guarantees it.)
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To: pepsionice; abb

For decades it was a family tradition to give subscriptions of RD and NatGeo for Christmas presents. That ended at least 10 or more years ago by request of all the recipients. All at about the same time agreed that both had turned into nothing more than trite rags of liberalism.

It was a shame. The condensed books were good reads back in the day. You could settle in for an evening by the fire and read a couple of good stories in one setting.

The RD reporting got worse and worse and more slanted all the time. Then it just got repetitive.

Popular Mechanics did about the same and started trying to be some kind of social reform media instead of a handy man’s how to. It got cancelled as well. Popular Science got axed by us way before that for the same reason.


12 posted on 02/18/2013 7:27:41 AM PST by Sequoyah101
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To: Zakeet

Good riddance. RD was just another liberal rag that fell from the truth a few decades ago. I grew up in the 60’s and 70’s with it and thought it was great but by 1990 I canceled my subscription as it was so left-leaning it nearly tore the left legs off my end table.


13 posted on 02/18/2013 7:33:52 AM PST by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off.)
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To: Zakeet

I subscribed for a few years of light reading. Most stories were fair and balanced, then the shift to left occurred and I escaped their stupidity marketing by unsubscibing in the early 90s.


14 posted on 02/18/2013 7:56:54 AM PST by Neoliberalnot (Marxism works well only with the uneducated and the unarmed.)
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To: All

Apparently we ALL were their readership, their demographics.

Wonder if they figured out why we ALL left....lol


15 posted on 02/18/2013 7:59:59 AM PST by libertarian27 (FreeRepublic Cookbooks 2011 & 2012 - Click Profile)
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To: Zakeet
For decades, "Readers Digest" was a conservative publication. In 1945, it published Friedrich A. von Hayek's The Road to Serfdom in serial form, introducing this classic to millions of readers.
16 posted on 02/18/2013 8:23:17 AM PST by Fiji Hill (Io Triumphe!)
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To: Sequoyah101
It was a shame...
The RD reporting got worse and worse and more slanted all the time. Then it just got repetitive.
Popular Mechanics did about the same and started trying to be some kind of social reform media
Yes, they were..used to be fine publications...
now..they're "Modern..HIP..More Relevant...and so very chic"

17 posted on 02/18/2013 8:28:37 AM PST by skinkinthegrass (who'll take tomorrow,spend it all today;who can take your income,tax it all away..0'Blowfly can :-)
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To: Zakeet

now that it skews left:

Humor in Uninformed
Quotable Quotas
Life in These Union States
Lefter, the Best Medicine


18 posted on 02/18/2013 8:35:56 AM PST by Chad N. Freud (FR is the modern equivalent of the Committees of Correspondence. Let other analogies arise.)
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To: Fiji Hill
For decades, "Readers Digest" was a conservative publication.

In 1945, it published Friedrich A. von Hayek's The Road to Serfdom in serial form,
introducing this classic to millions of readers.

and many articles, by John Bannon...
and condensed books by Aleksandr Solzhenitsyn
and many other fine articles..

19 posted on 02/18/2013 8:40:46 AM PST by skinkinthegrass (who'll take tomorrow,spend it all today;who can take your income,tax it all away..0'Blowfly can :-)
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To: Steely Tom

Didn’t they do away with that years ago ???


20 posted on 02/18/2013 8:42:52 AM PST by EDINVA
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