Reader'sDigest has officially emerged from pre-packaged bankruptcy today, a moved thatenabled the struggling publisher to dramatically cut its debt. Mary Berner, whoremains president and CEO, said the remade balance sheet "is a significant stepforward as we continue to transform [Reader's Digest] into a global media andmarketing leader."
With the restructuring complete, RD is focusing on driving top-line growth andtransformation of its business through its affinity marketing model, whichbuilds communities of like-minded consumers around its brands, reaching them inperson, print, and online. The publisher is also continuing to cut costs andwill soon be moving out of its longtime headquarters to new offices in New York City and White Plains, N.Y.Completion of the restructuring also means that a new board of directors hasbeen installed with Berner the only RD employee on the board.
