TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Reader's Digest parent seeks bankruptcy protection

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

GOOG $792.89 +$5.07

at close on FRIDAY

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

By The Associated Press
Tuesday, Feb. 19, 2013, 12:01 a.m.
 

The parent company of Reader's Digest has filed for Chapter 11 bankruptcy protection for the second time in less than four years, saying it needs to cut its debt so it can keep restructuring.

RDA Holding Co. says it will keep publishing during the bankruptcy. It is aiming to be out of Chapter 11 within six months.

The New York company said it plans to cut its debt load by 80 percent during the restructuring, leaving it with about $100 million in debt.

RDA's Reader's Digest Association Inc. filed for Chapter 11 protection in 2009 in the midst of a recession and a drop in advertising and circulation. The company emerged from bankruptcy in early 2010.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Shell shovels millions into proposed Beaver County plant site
  2. Extended oil slump takes toll
  3. Muni bond funds stressed
  4. Companies hand out perks, benefits instead of pay raises
  5. Small business hangs on fate of Export-Import Bank
  6. Bond funds hold onto cash
  7. When it comes to home ownership, Hispanics finding locked doors
  8. Off-duty but on call: Suits seek overtime
  9. Of Caitlyn Jenner and workplace restrooms
  10. Tech Q&A: Why you should test your router
  11. $2-per-gallon gas expected by year’s end, but not in Western Pa.