Reader's Digest plans to file for U.S. bankruptcy

Reuters ^ | Aug 17, 2009 | Chelsea Emery

[jdfromny]

Reader's Digest Association Inc, publisher of the widely-read Reader's Digest magazine, said on Monday it would likely file for Chapter 11 bankruptcy for its U.S. businesses to cut its debt load.

The media company, known worldwide for its family-friendly namesake magazine, been trying to slash costs and boost growth since it was taken private in 2007 by an investor group led by Ripplewood Holdings LLC.

The bankruptcy would take the form of a so-called pre-arranged filing, Reader's Digest said in a statement. A pre-arranged filing comes after a company has already reached deals with its lenders to cut its debt.

[jdfromny]

Readers Digest content has been going downhill for awhile. I use to subscribe until it seemed to be going unAmerican.

Bye Bye...

[clee1]

Bump, bump, bump...

Another one bites the dust!

[DieHard the Hunter]

What, you mean somebody FINALLY won their prize draw?? Why did they ever let THAT happen?

[Pajama Blogger]

abridged to far?

[Cicero]

I was never a Reader’s Digest fan, but it used to be politically inocuous, at least. Now they all have to pimp for the left, it would seem.

[EmilyGeiger]

Readers Digest content has been going downhill for awhile. I use to subscribe until it seemed to be going unAmerican Same here. They used to do an article called "Outrageous" that discussed gov't waste and spending. It was good, but it's been cut the last 3 years or so....

[dfwgator]

“Not when you remove the third, fifth and sixth letters. Than it becomes Red Digest, comrade.” - Colonel Flagg

[Beagle8U]

GOOD! Another leftist rag bites the dust!

[KarlInOhio]

I use to subscribe until it seemed to be going unAmerican.

"It's the Reader's Digest." "Not when you remove the third, fifth and sixth letters. Than it becomes Red's Digest, comrade." (stolen from Col. Flagg in MASH).

[KarlInOhio]

@*$*! I took too long finding the quote!

[EyeGuy]

“I was never a Reader’s Digest fan, but it used to be politically inocuous, at least. Now they all have to pimp for the left, it would seem.”

####

Put National Geographic in that category as well.

They used to be true to their title, but now include a large, wholly unnecessary dose of advocacy for the ridiculous, ongoing “environmentalism” charade.

[randita]

I stopped reading it when the number of pages of ads exceeded the number of pages of articles, which was a decade or more ago.

[Lizavetta]

My husband’s grandmother got us a subscription for it years ago. The day the issue that had an article on the sexual problems of a particular couple and a very suggestive sexual joke in the humor section was the day I called and cancelled. And the lady in customer service was completely sympathetic.

[fireman15]

We dumped them because they kept going more and more to the left.

[Oratam]

abridged too far

Bravo!

[dfwgator]

GMTA! I left out the apostrophe ‘s, because I was typing it from memory.

[smokingfrog]

They’ve been getting to liberal lately.
The jokes are still pretty good though.

[mission9]

Their coverage of the issues in 2008 seemed to focus on how loved Bama was internationally. They have bought the greenhouse gas global warming argument in totality.

[FoxInSocks]

Slow and easy wins the race!

[stephenjohnbanker]

It moved to the left, so buh bye.