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The Reader's Digest Association

The Reader's Digest Association

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DeWitt and Lila Wallace published their first issue of Reader's Digest in 1922. They sold the magazine exclusively by mail and priced it at 25¢. Working out of their Greenwich Village apartment, the Wallaces edited The magazine and printed 5,000 copies. Since then, The Reader's Digest Association, Inc. has grown to become one of the world's preeminent publishers and direct marketers.

Reader's Digest, the largest-selling magazine in the world, now appears in 50 editions and 21 languages, following new launches during the past year in Romania, Slovenia and Croatia. the magazine is sold in more than 60 countries.

The company reaches millions of consumers through more than 25 other magazines, including Every Day with Rachael Ray and America's best-selling food and cooking magazine, Taste of Home. Each year, the company publishes about 50 million books including the Select editions series and offerings in the cooking, do-it-yourself, health, gardening and children's titles. It markets collections of music, from Beethoven to Ella Fitzgerald to today's pop divas, and videos and audio books.

These products are marketed through a wide range of channels including direct mail, display marketing, direct response television, catalogs, retail and the Internet. Recently, the company acquired allrecipes.com, the leading website community for Home cooks, and launched Taste of home Entertaining, a coast-to-coast party plan business that markets to customers and their friends in their homes.

The Reader's Digest Association, Inc. went public in 1990, offering common stock on the New York Stock Exchange. On March 3, 2007, an investor group led by Ripplewood Holdings L.L.C. completed an historic transaction resulting in the acquisition of RDA, returning the company to private ownership status after 17 years. Two other companies in Ripplewood's portfolio, WRC Media and Direct Holdings Co., were brought into RDA, making the total value of the transaction approximately $2.6 billion. Mary Berner, former President and CEO of Fairchild Publications, was named President and CEO of The Reader's Digest Association.

In the inaugural issue of Reader's Digest, the Wallaces offered articles of "enduring value and interest." They envisioned a future that was both bright and challenging. They viewed Reader's Digest as a tool to help people make sense of a fast-increasing flow of information, and to help them simplify their lives. Perhaps their idea was the first "search engine." Today, offering a broad range of formats and delivery options, the company continues to be committed to informing, entertaining and inspiring people of all ages and cultures. Headquarters are located near Pleasantville, New York.

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Date: Feb 05, 2008 12:31:06
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