Will this “Most Unforgettable Character” Survive? – February 2013 M&A Activity
A “Most Unforgettable Character” in the life of millions of Americans, mine included, the Reader’s Digest, filed to reorganize in Chapter 11 bankruptcy; its second trip to the bankruptcy court in less than four years. The news brought back memories of reading the pint-sized magazine, ostensibly written for the grownups in the house, but eagerly consumed by all who could read. I was encouraged monthly to learn new words since “It Pays to Increase Your Word Power,” and felt better since “Laughter is the Best Medicine." I was entertained with some really "Amazing Anecdotes", and got a glimpse of what it meant to be American from "Humor in Uniform" and "Life in these United States." Like millions of other former readers, I have not read (or have even seen) a copy of the Reader’s Digest in years, however the impact remains. As the delivery of content via print continues to decline and moves ever more to phones, pads, surfaces and tablets, I suspect that this former cultural icon will continue to struggle for survival.