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Readers Digest posts

Reader's Digest: Another botched private equity deal

Posted Aug 17th 2009 12:40PM by Tom Taulli (RSS feed)
Filed under: General Electric (GE), Private Equity, JPMorgan Chase (JPM), Bank of America (BAC)

It seems that no print publication is immune from the wrenching changes in the publishing industry. Look at Reader's Digest. The company said it will likely file for a so-called prearranged Chapter 11 bankruptcy.

The main reason: to pare down the heavy debt load.

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Reader's Digest launches three new magazines

Posted Mar 3rd 2009 12:20PM by Zac Bissonnette (RSS feed)
Filed under: Magazines, Marketing and Advertising

With so many magazines folding, this might seem like a strange time to go ahead and start three new ones.

Especially when you have an enormous debt load that is rated as junk by Standard & Poor's and Moody's. But Reader's Digest is launching three new magazines. Back in January I wrote about the launch of Pastor Rick Warren's new magazine, and now Reader's Digest is adding another two to the line-up.

Fresh Home debuted on Monday with 300,000 copies and a focus on lower-end decorating ideas for women and families. The idea is apparently that Ikea-based decorating ideas will be more recession-friendly than Veranda but in truth there hasn't been a shortage of budget decorating magazines in a long time. Add in the recent collapses of Country Home and Domino and it's hard to see any good omens for this one. Best You is a health magazine and will debut next month.

Continue reading Reader's Digest launches three new magazines

Rick Warren launches his own magazine

Posted Jan 27th 2009 1:00PM by Zac Bissonnette (RSS feed)
Filed under: Magazines, Marketing and Advertising

Fresh off the most controversial inaugural invocation in history, Pastor Rick Warren is launching a new quarterly magazine.

Published by Reader's Digest Association, the magazine will include access to a Christian social networking site and DVDs designed to help lead group prayer sessions. The quarterly magazine will sell for $30 per year.

It's one of the toughest times in history to launch a magazine but this magazine -- titled Purpose Driven Connection -- would seem to have a better chance than most. Warren has a huge following and his book The Purpose Driven Life has sold well over 30 million copies. The target demographic is probably old enough that Purpose Driven Connection might be somewhat immune to the issues that have hurt the publishing industry at large.

Continue reading Rick Warren launches his own magazine