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Summary:

Reader’s Digest, which is in the process of its Chapter 11 bankruptcy reorg process, will soon be unveiling a company name change, according…

Reader's Digest

Reader’s Digest, which is in the process of its Chapter 11 bankruptcy reorg process, will soon be unveiling a company name change, according to this long NYT profile of the struggling company trying to reinvent itself. Likely the new name and branding would be unveiled as the company comes out of the bankruptcy proceedings. Highly unlikely that the company would rename the iconic magazine itself, but could mean incorporating some elements of the company re-branding into the mag as well.

As I reported before, the company is really serious about its Face Plan (yes that’s what it is calling its plan for the future), with all kinds of current trendy buzzwords in it, as NYT also notices. As the company moves out of its old offices in Chappaqua in NY, about half of the 900 employees will work in an office in White Plains, and half will work in Midtown Manhattan, a clear break from the past. Still hard to see how the turnaround could happen, renaming and “Face Plan” notwithstanding.

Also, from the bankruptcy court filings RD did on Friday (PDF link), an update on the sale of its CompassLearning education learning software unit: according to the court supervised auction proceedings, first round bids are due by Dec 31, with court setting a hearing to determine the final owner on Jan 12. This comes after a “stalking horse bidder”, in the form of PE firm Marlin Equity, came into the picture and is bidding $20.25 million for the unit. Any new bidders would of course have to go above that.

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  1. Weird. Reader’s Digest offered, in a way, the kind of repackaging and bite-sizing of information internet news harvesters-and-packagers are doing now. Why didn’t Reader’s Digest see this massive trend coming and use its native resources to capitalize on it? Its core readership is middle-aged and the group is slow to adopt online services, of course. But more to the point: RD was too conservative, it couldn’t bring itself to recognize the new business reality. Bankruptcy was the result

    BTW, small correction: Chappaqua is not “upstate NY,” it’s in Westchester County and a bedroom suburb of NYC, less than an hour from midtown by commuter rail.

  2. When I observed the pro-illegal alien stance of Reader’s Digest years ago and how severely the illegals negatively affected me personally, socially and economically, as one of a multitude of the USA’s working-poor underclass that the USA’s blathering elites and scum politicians proclaim are unwilling to perform the tasks ILLEGALS will do (BS!!!!!!!!!) I boycotted the magazine and hoped a pox befell all those earning an above-average income from the magazine and rued that those responsible for Reader’s Digest contest would likely never have to compete with the multi-millions of invaders of the once-sovereign USA.

    At one time pro-invasion of the USA attitudes would be labeled traitorous or treason, whether from a periodical or a politician lackey of the ruling elites and/or corporate America.

    Nowadays espousing the cause of ILLEGAL invaders is merely representative of acceptable political correctness.

    I predict the eventual fall of the USA and the installation of an oligarchy benefiting the few.

    “There’s class warfare, all right, Mr. (Warren) Buffett said, but it’s my class, the rich class, that’s making war, and we’re winning.”.

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