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Reader's Digest Files for Bankruptcy

forgforg Administrator PEx Moderator
The parent company of Reader's Digest magazine, RDA Holding Co., filed for bankruptcy Monday as part of a financial restructuring move that includes shrinking its $465 million debt.

This is the second time in four years that the iconic print magazine has faced bankruptcy. In 2009, its then debt-laden publisher Reader's Digest Association Inc., also filed for bankruptcy. In 2010, the company emerged from bankruptcy after being taken over by its lenders.

CNN

This is very sad news. I hope they can find a way to survive because I still believe that there's still room for the print industry to thrive in the digital age

Comments

  • JameauxJameaux PEx Influencer ⭐⭐⭐
    First Encyclopedia, then this. Who's next?
  • forgforg Administrator PEx Moderator
    Baka FHM and Cosmopolitan na lang siguro ang tatagal sa newstands in the near future
  • These 'digests' were my very first reading materials, along with the Hardy boys' pocketbooks, while growing up in Baguio.

    I remember Wordpower, All in a Day's Work and Laughter's the Best Medicine sections of the digest.

    Parang nalungkot ako bigla. :(
  • Meanie!!Meanie!! PEx Influencer ⭐⭐⭐
    Wow nakakalungkot naman.
  • nikkilovenikkilove PEx Influencer ⭐⭐⭐
    forg wrote: »
    Baka FHM and Cosmopolitan na lang siguro ang tatagal sa newstands in the near future

    omg! ROFL on your post mod forg. :rotflmao:

    I didnt expect that. Thanks for the good laugh. :D
  • nikkilovenikkilove PEx Influencer ⭐⭐⭐
    blame wiki.

    they should have anticipated and prepared for this, knowing their competition has been around for awhile.

    nasayang naman yung decades of research and information dissemination nila,

    ang galing nilang magpayo sa iba, tapos yung sarili nila di nila natulungan, ano

    ba yan.
  • Dear God, not the Digest as well.
  • F-A SoldierF-A Soldier PEx Influencer ⭐⭐⭐
    First RD I've read I was probably 6 or 7.

    I've read RD, both old and new volumes, in my teens sparingly. I remember how thick it was then.

    Then the last decade what I noticed was the Digest was smaller and thinner. The last issue I bought was around 2008. Only in the last few years did I notice the 'conservative' tone...maybe it's just me and my post Political Science education.

    I just read this news and this is a sad event,

    Gutenberg Bible

    PS Anybody also use to read the RD Condense Books? Fun times. Nerd.

    The jokes section is gonna be missed. Esp. the military ones.
  • anima9anima9 PEx Influencer ⭐⭐⭐
    The jokes section are what I always read on the first day. I then only proceed to read everything else afterwards. I've been reading them since elementary (9 or 10 years old) in our school library then I asked my mother to subscribe for one. We ended that subscription 2 years ago. I'm glad I have a good collection though I'm still sad to see my favorite pocket mag go away.
  • So sad to hear that :(
  • WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHH!!!! :sob: bwisit!!! I HATE the DIGITAL AGE!!! :sob:
  • F-A SoldierF-A Soldier PEx Influencer ⭐⭐⭐
    Yet you're posting on the internet.

    LOL,

    Consistency
  • how sad :(
  • magsasara na ang RD... hindi yan pwede kay Enrileeee! haha nakakalungkot talaga :depressed:
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