News Brief

RDA To Emerge From Bankruptcy

Jan 15, 2010, 7:12 PM
  • Comment
  • Recommend (3)
Subscribe to MediaDailyNews

Tags

A judge approved Reader's Digest Association's restructuring plan, which will allow the publisher to emerge from bankruptcy by Jan. 31, reports Mediaweek. The publisher was burdened by debt from its 2007 takeover by Ripplewood Holdings; it filed a prepackaged bankruptcy plan with new lenders in August to significantly cut its $2.2 billion debt. Hamstrung by the economy, RDA cut staff, rate base and moved its HQ to Manhattan.

Be the first to comment on "RDA To Emerge From Bankruptcy"

Leave a Comment

Sign in to leave a comment. Don't have an account? Join Now

Recent MediaDailyNews Articles

>> MediaDailyNews Archives