Reader's Digest Hires Investment Bankers to Advise on Sale
Morgan Stanley and Evercore will help shop the company
Reader’s Digest Association, which reportedly put itself up for sale this week, has hired investment bankers Evercore Partners and Morgan Stanley to shop the company (or parts of it) to potential buyers, sources told the New York Post’s Keith Kelly. One source said that the company could sell for more than $1 billion, thanks to annual revenue of roughly $1.7 billion and cash flow of around $86 million.
RDA still hasn’t confirmed reports of a sale. According to one insider, the company has considered making an official announcement of its plans but hasn't made a decision yet.
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