Well, yes you read that right. Reader’s Digest is filing for bankruptcy. According to The Wall Street Journal, Reader’s Digest has “reached an agreement with its lenders on a restructuring plan that it will likely complete under a prepackaged bankruptcy filing in order to reduce its debt.”
Much like any other printed media that failed and became bankrupt, Reader’s Digest would need to become more of an online presence rather than an offline one. This is to ensure that they survive since offline media is being forgotten by the day and becoming less appealing to the younger generation.
[image byhttp://ec.mashable.com]
Make sure to check out the site for more related information about Reader’s Digest Bankruptcy .
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