For those among us, who have made Reader’s Digest an integral part of their lives; religiously buying the old and famous magazine for years now; contemplating a life with RD can be shattering. But according to a list created by 24/7 Wall St., Reader’s Digest is among ten brands that may disappear in 2011.
The reason why RD made it to the list, given by the 24/7 WS is:
“Reader’s Digest was once the most widely read magazine in the world. According to the company, it still may be when its overseas editions are taken into account. Last August, the company took its U.S. operations into Chapter 11 to decrease debt. It emerged from bankruptcy in February with $525 million in exit financing. The company cut the number of issues it publishes a year from 12 to 10 last year. It also cut its circulation guarantee for advertisers to 5.5 million copies from 8 million. It would have been unthinkable just a few years ago that a magazine as old and famous as Reader’s Digest would be shuttered. However, Reader’s Digest as it is known in the U.S. will be gone.”
In a time, when we have seen many giants fall; it’s not very difficult to predict, till how long a loss making Reader’s Digest can keep going. But for those among us, who have relied on RD to move on during thick and thin. Losing a dear friend would be heart wrenching.