Reader’s Digest Purchased for $2.4 Billion
November 20, 2006
Reader's Digest Purchased for $2.4 Billion
Reader's Digest, the seminal publishing company with over 50 editions in 21 countries has been purchased by private equity group Ripplewood Holdings, for approximately $2.4 Billion, equaling last year's revenue generation.
The company has a long tradition in Latin America, with its first editions arriving there just following World War II.
Selecciones, the Spanish language edition of Reader's Digest Magazine, has a monthly distribution of over 350,000 here in the U.S, and sales of over 1.7 million in Latin America. One of Selecciones and Readers Digest strengths it is database marketing.
Upon publication, there was no news as to how the recent acquisition will affect Selecciones' overall
distribution strategy in the U.S.A. or in Latin America.
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