Reader's Digest Association seeking merger?
The company is reportedly looking for a buyer.
Merger and acquisition consultants may be required by the Reader's Digest Association as it is looking for a buyer.
According to a report in the Wall Street Journal, financial advisers have been hired to look into the possibility of a sale.
Quoting two people familiar with the matter, the paper observed the whole empire may not be moved as a whole.
Reader's Digest is struggling financially and applied for bankruptcy in 2009, so negotiation skill may be required to finalise any agreement.
The information outlet observed circulation of the magazine has fallen in recent years as people opt for more niche titles.
It added the organisation currently publishes 90 magazines throughout the world, while it also owns the cooking website Allrecipes.com.
Last month, it was announced Dan Lagani had been promoted to the position of president of North America at Reader's Digest Association.
"Dan has a proven and consistent record of revitalising brands, leading digital transformation and identifying meaningful partnerships," president and chief executive officer Tom Williams said.
Posted by Ron Maverick