Reader's Digest Association, publisher of magazine Reader's Digest, announced Monday that it will file for Chapter 11 protection. The plan is to swap debt for ownership in the company.
Well, this explains a lot. My wife and I cancelled our subscription over the past year amid the magazine re-designing itself around January 2008. It just wasn't the same magazine anymore. Reader's Digest became overzealous in trying to win us back. Now I know why they were being so pushy...
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