Reader’s Digest Suffers Big 3Q Losses

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By Brad Wellen Comment

In today’s Memo Pad, WWD’s Amy Wicks wrote that The Reader’s Digest Association recently disclosed a third-quarter earnings report that revealed a near-15 percent drop off in revenues.  The loss is being chalked up to the media company’s flagship title, Reader’s Digest.  The New York-based family magazine printed fewer issues last quarter as part of their planned rate base reduction.

RDA’s operating profits for the quarter decreased by 25 percent to $1.5 million — a decline that resulted from reduced revenues and financing for digital projects.