Reader’s Digest for Sale: A Colorful History

It will be interesting to see who steps in and how much they will offer up for the Digest. If BusinessWeek is the measuring stick, I may need to scrap up a few nickels and put in an early bid. Having visited Readers Digest during the good old days - I have fond memories of its sprawling campus and the wonderful hallways lined with Artwork.

Amplify’d from www.wallstreetjournal.com

The company behind America’s favorite pocket-sized publication, Reader’s Digest, is for sale, about a year after it crawled out of bankruptcy protection. And that means the storied magazine may change ownership for the third time in the past five years, after it had been under the watch of the founding Wallace family for most of the company’s 89-year history.

At its peak three decades ago, Reader’s Digest sold roughly 18 million copies a month

An investment group led by private-equity firm Ripplewood Holdings agreed to buy Reader’s Digest in 2006 in a $1.6 billion deal

— weighed down by far too much debt in part brought on by the Ripplewood deal– the private equity firm’s entire investment was worthless. Read more at www.wallstreetjournal.com

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