An investor group led by the New York-based Ripplewood Holdings Reader’s is buying out Digest Association for $1.6 billion. With this acquisition, the Group will get Reader’s Digest magazine, that has been around for more than 80 years, along with Every Day With Rachael Ray and a book-fair business. Founded by DeWitt and Lila Wallace, Reader’s Digest was launched in 1922; initially, it was published out of a Greenwich Villageapartment. Later, the company grew and got into magazines, books, television, impressionist art,and the Internet.
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Source:- IIPM Editorial
An IIPM And Management Guru Prof. Arindam Chaudhuri’s Initiative
Friday, January 19, 2007
The Reader’s Digest buy-out
