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Digital Causes Readers Digest to File
2-18-13
RDA Holding Co., the publisher of the 91-year-old Reader’s Digest magazine, has filed for bankruptcy to cut $465 million in debt and focus on North American operations as consumers shift from print to electronic media. Reader’s Digest went public in 1990. An investor group led by private-equity firm Ripplewood Holdings bought it in 2007 for $1.6 billion and $800 million in debt. The company also filed for bankruptcy in August 2009.
