RDA Sells Weekly Reader
Reader’s Digest Association — in accordance with its stated goal of scaling back operations to just a few brands — has sold Weekly Reader to Scholastic, Inc. Weekly Reader is an educational magazine designed for the kindergarten through 12th grade classroom.
“As you have seen, we are very deliberately moving forward with our transformation plans for RDA,” said CEO Robert Guth in a memo that was obtained by the New York Post.
The exact number of the deal is unknown, but sources told the Post they believe it to be somewhere around or right below $5 million.
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