Reader's Digest Enters Into Insolvency

Less than three years after Jo Moulton’s Better Capital private equity firm rescued the monthly magazine from administration, it has cut 90 of Reader’s Digest UK’s 120 staff as it axed the magazine's direct marketing division. The private equity firm also began insolvency proceedings of the magazine’s CD, DVD and bookselling arm. Better Marketing said that no easy route to long-term viability for the direct marketing business exists.

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Tags: europe, media, online, uk
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