Reader’s Digest is reportedly filing for bankruptcy, the second time the company has done so in the last four years, despite an executive shakeup and various divestments to repay debts. The family magazine has reported $1.1 billion in assets, and nearly $1.2 billion in debt. After its first bankruptcy filing in 2009, the magazine was taken over by JPMorgan Chase. Since, it has sold Allrecipes.com for $180 million and Every Day with Rachael Ray for $4.3 million to the Meredith Corporation. Robert E. Guth, Reader’s Digest’s chief executive, has said that the company plans to be out of bankruptcy protection in four months.
Full Content: Deal Book
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Kenya’s Competition Authority Proposes Tougher Regulations on Big Tech
May 30, 2024 by
CPI
KKR Secures EU Antitrust Approval for $24 Billion Acquisition of Telecom Italia’s Fixed-Line Network
May 30, 2024 by
CPI
European Court Sides with Tech Giants in Italian Regulatory Dispute
May 30, 2024 by
CPI
US Steel and Nippon Steel Secure International Approvals for $14.9B Merger
May 30, 2024 by
CPI
EU Watchdog Mandates Boardroom Accountability for AI in Banks
May 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI