Reports: Reader’s Digest, Wenner Media on the block
Folio | Crain's | Wall Street Journal
Reader's Digest Association, which emerged from bankruptcy protection in early 2010, has put itself up for sale and hopes to fetch around $1 billion, reports the Wall Street Journal. The company publishes 90 magazines world-wide, including Everyday with Rachael Ray, and it has a direct-marketing business. One of its most attractive properties is Allrecipes.com, which could draw interest from a range of digital media companies and fetch between $100 million and $200 million. RDA acquired for $66 million in 2006.
Meanwhile, Crain's New York Business reports the on-again, off-again chatter about Wenner Media properties -- Us Weekly, Rolling Stone, and Men's Journal -- being for sale is on again. However, a company spokesman says Wenner isn't looking for buyers.