Reader's Digest files for bankruptcy

Published: 11:29:44 AM, Mon 18 February 2013 UTC

A spokesman for Reader's Digest magazine says it is business as usual for the company's Australian arm, after its US publisher filed for bankruptcy.

It is the second time in four years that RDA Holding Company, the publisher of the 91-year-old magazine, has sought voluntary bankruptcy.

This time, it is part of a deal to cut $451.6 million in debt and restructure the company in a shift to digital media.

The company says the filing only applies to its US business, but it is seeking buyers for some of its international operations.

Tags: rda holding company, restructuring, bankruptcy, international operations, time, default, business, company, spokesman, shift, digital media, voluntary bankruptcy, 91-year-old magazine, reader, publisher, reader's digest, computer file, debtor, debt relief

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