R.I.P.
Filed under: Media MinuteReader's Digest is filing for bankruptcy!
Posted: August 17, 2009 at 3:44 pm
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33 comments to “R.I.P.” |
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SRSLY?! That's so weird, I grew up reading reader's digest.. I feel like I've lost a friend lol
Pity; it had some interesting articles.
NOOOO!
My grandma read this little magazine. Kind of sad, it was always an older persons thing. We used to make Christmas Tree Angels out of them. You would fold them, paint them, put angel head and wings on them. ha ha it was fun.
Actually, it's Chapter 11 reorg, so it's not dead yet (that would be Chapter 7 AKA liquidation).
Also, it only applies to US holdings, not the other 43 countries they do business in.
Sounds like the partnership with Rick Warren's Purpose Driven Connection did not save their souls. GOOD!
(The Purpose Driven Connection is a website for Christian social networking which includes magazine articles, study guides, and videos of sermons, testimonials and devotions.)
People don't hardly read anymore. Maybe they could Tweet their future issues?
ADIOS
Crap! I guess this means I dont need to be looking for them with balloons and a big fat check at my door anytime soon, huh?
R.I.P….
BREAKING NEW…
“Perez Hilton or as he is more commonly known “FatAss" has been rushed to Cedar Sinai hospital where he has been pronounced DOA. His family and friend wish that in lieu of flowers or cards, that you send a large bag of shit and a pack of matches”
Oh, How I wish!
now i have to find something else to start fires with
Right wing corporate rag- good riddance.
Re: Head Banger – just one bag? no gas? hmmmm
I hope it goes under since it changed into a republican voice box spitting out republican talking points!
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"01 01 09 After years of trying to broaden the appeal of Reader’s Digest, the publishers are pushing it in a decidedly conservative direction. It is cutting down on celebrity profiles and ramping up on inspiring spiritual stories. Out are generic how-to magazine features; in are articles about military life.
“It’s traditional, conservative values: I love my family, I love my community, I love my church,” said Mary Berner, the president and chief executive of Reader’s Digest Association."
Guess that didnt work so well! LET IT GO UNDER!
WTF????
…….noooo……next you are gonna tell me Matlock and Murder She Wrote are no longer going to be rerun on TVland.
I also grew up reading Reader's digest in spanish… In my house we even kept some mags for years!!!
Re: Aussieone – it changed into a republican voice box spitting out republican talking points! It’s traditional, conservative values: I love my family, I love my community, I love my church,” said Mary Berner, the president and chief executive of Reader’s Digest Association."
You're right!! horrible, horrible views….get rid of the magazine now!! i can't believe they would even publish garbage like that in the first place!!! yuck!!!
My parents and lots of relatives used to read this. I loved learning new words and what they meant. Will miss this.
Re: buck – Re: Aussieone – Berner admits that the move to a more conservative base is purely a financial one for the magazine.
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Says Ms. Berner about the change in focus, “As far as I’m concerned, I don’t care what the religion is, what the spirituality is, as long as it’s legitimate, there’s a built-in community and it’s global.”
i love readers digest. i always wanted to subscrive to it along with national geographic to look more "in the know"
Noooooooooooooooooooooooooooooooooooooo!!!!
Wow, shocking!
for bankruptcy protection you fool big different perez
Re: BobFromBoston – Thanks for that info!
With their excellent customer service and superior organizational skills, I AM SHOCKED! SHOCKED, I TELL YOU!
They have been around forever !!!
Very sad, but sign of the times i suppose !!
I do not care- it was always a pensioners magazine.Twee beyond words.
Does that mean my, "You May Be A Winner," junkmail now means that I am NOT A WINNER?
:S
So Sad!
Nooo that sucks they had some good stories!
How awful. I love that magazine.
During the Chapter 11 process, CEO Berner will be paid $125,000 per month in base salary.
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Multiplied out over 12 months, Berner’s new agreement would put her annual salary at $1.5 million. According to RDA’s last 10-K report, Berner in fiscal 2008 was earning a base salary of $600,000 (and was eligible for an annual guaranteed bonus of $500,000). That doesn’t include performance incentive bonuses that could have been as much as 400 percent of her base salary.
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In case Berner isn’t offered her job back when RDA eventually emerges from bankruptcy protection, the company has agreed to up her severance package to $2.2 million, plus any earned but unpaid salary, vacation pay and/or unreimbursed business expenses.
Pays to go bankrupt, huh?