Posted by Sheila Shayon on March 13, 2013 03:07 PM
Reader’s Digest’s two trips to bankruptcy court in under four years seem to be paying off.
The magazine’s parent, RDA Holding, filed for Chapter 11 last month, (the first round was in 2009) hoping to convert nearly $465 million of debt into equity held by creditors as the 91-year-old publisher struggles to survive.
"After considering a wide range of alternatives, we believe this course of action will most effectively enable us to maintain our momentum in transforming the business and allow us to capitalize on the growing strength and presence of our outstanding brands and products," said CEO Robert E. Guth.Continue reading...
Posted by Dale Buss on March 13, 2013 09:39 AM
FTC clarifies rules for social and mobile advertising.
Reader's Digest reports big gains among advertisers and readers.
Samsung deals with high expectations for Galaxy S IV as it outspends Apple on marketing.
BBC World News launches global marketing campaign.
Boeing gets FAA initial approval of battery fix for Dreamliner and wins $15 billion order from Ryanair for current 737 plane, report says.
Cadbury's Silk undergoing brand "renovation."
Chevrolet accelerates dealer infotainment training.Continue reading...
Posted by Sheila Shayon on February 19, 2013 01:26 PM
Reader’s Digest is filing for bankruptcy for the second time in three and a half years.
"Under a restructuring agreement supported by Wells Fargo & Co., $465 million of remaining senior notes will all convert to equity," explained CEO Robert Guth to Bloomberg. "The key message here is that we have a lot of confidence in the future of the business based upon the success of the ongoing operational transformation, but we haven’t had as much success with the balance sheet side of it and we need this process to help accelerate that."
"The Chapter 11 process, which will facilitate a significant debt reduction, will enable us to continue to redefine our business by focusing our resources on our strong North America publishing brands, which have shown a new vitality as a result of our transformation efforts, particularly in the digital arena," Guth stated in the press release announcing the restructuring.Continue reading...
Posted by Dale Buss on February 18, 2013 09:01 AM
Reader's Digest files for bankruptcy for second time.
Starbucks bets on Asia-Pacific growth.
Maker's Mark restores alcohol content after public uproar.
BMW recalls 30,000 SUVs for brakes.
Biggby Coffee has big plans to expand regional coffeehouse chain into national brand.
CBS buys into cable TV.
Coca-Cola says reached Twitter-imposed ceiling as reason for stopping tweeting during Super Bowl.
Danone may be targeted by activist investor who prodded Heinz.Continue reading...
Posted by Dale Buss on October 24, 2012 09:00 AM
Dow Chemical to slash 2,400 jobs and close 20 plants.
Zynga cuts staff and kills some games.
BBC investigating staff members in Jimmy Savile sex scandal as New York Times public editor calls for scrutiny of incoming CEO, ex-BBC exec Mark Thompson.
AT&T reports slower growth in new customers.
American Airlines expands route network.
Apple finally unveils its new smaller iPad as advertisers and publishers contemplate utility of new model.
BAE faces pressure after collapse of EADS deal.Continue reading...
Posted by Barry Silverstein on May 19, 2011 10:00 AM
America is aging. It may sometimes look like brand marketers forget that fact, what with their doggedly youthful approach to advertising. But there are those brands that recognize the golden opportunity in the golden years.
AARP is a prime example. The nation's largest lobbying organization on behalf of seniors, AARP is also a digitally-savvy marketing machine. It publishes AARP The Magazine, reaching 47 million readers with special discounts and benefits, and sells an array of products, including automobile and health insurance. AARP is surely one of the best known brands to the senior set.
So is Reader's Digest. Many seniors grew up with the magazine, which was founded in 1922. Today it is the anchor of a global media and direct marketing company that reaches more than 130 million consumers in 78 countries. The Reader's Digest Association publishes 90 magazines, including 50 editions of Reader's Digest, operates 83 branded websites, and sells more than 40 million books, videos and music products each year.
Now Reader's Digest will be going head-to-head with AARP as it embarks on a new alliance with Humana, a U.S. leader in health care coverage.Continue reading...
Posted by Dale Buss on May 17, 2011 09:00 AM
Amazon's Android tablets reportedly codenamed Coyote and Hollywood.
Arnold Schwarzenegger's personal brand rocked by confession he fathered a child with household staffer.
Birds Eye plans new sales push in Russia.
BP Russian pact with Rosneft collapses.
California pushes for tighter security controls on social networks.
Conde Nast expands iPad magazine editions.
Disney may make power play for Olympics sponsorship; and fined $3M for violating kids' privacy.
Facebook meets with bankers to discuss IPO.Continue reading...
Posted by Stephanie Startz on November 6, 2009 07:14 AM
It's finally here! The Droid has landed! [PC World]
Will Oprah move her show to her cable network? [NY Times]
Unilever may cut prices, denies interest in Cadbury. [Times of London]
Walt Disney's Florida sports complex gets ESPN rebrand. [NY Times]
Starbucks will offer Seattle's Best coffee in Subway shops. [Seattle Times]
Verizon Wireless claims AT&T lawsuit has "no merit." [BrandWeek]
Three Fiat cars will be sold under the Chrysler brand. [NY Times]
(More headlines: New LA Times website, Izod sponsors IndyCar.)Continue reading...