US Icon Reader's Digest Falls to Private Equity Group

20 November 2006

PLEASANTVILLE, N.Y: Following more than two decades of accelerating decline, Reader's Digest, second only to the Bald Eagle as an American icon, has been acquired for $1.6 billion (€1.25bn; £844.9m) by a private equity consortium led by Ripplewood Holdings.

Ripplewood plans to integrate its existing media businesses, among them Time Life Books and the Weekly Reader, with Reader's Digest Association's famed direct-marketing machine.

In all RDA owns 26 print titles, including Every Day with Rachael Ray and Backyard Living.

Data sourced from Wall Street Journal Online; additional content by WARC staff