Reader's Digest is bankrupt as iconic magazine falters

RDA Holding, publisher of the 91-year-old Reader’s Digest magazine, filed for bankruptcy to cut $465 million (€348 million) in debt and focus on North American operations as consumers shift from print to electronic media.

18th February, 2013
Publisher of Readers' Digest files for bankruptcy

RDA Holding, publisher of the 91-year-old Reader’s Digest magazine, filed for bankruptcy to cut $465 million (€348 million) in debt and focus on North American operations as consumers shift from print to electronic media.

The company is the latest in a line of iconic businesses to have recently sought court protection from creditors, after Hostess Brands, maker of Twinkies and Wonder Bread, and Eastman Kodak, inventor of Kodachrome and the Instamatic camera.

Reader’s Digest,...

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