Monday, August 17, 2009
media Reader's Digest: Laughter may be the best medicine, but it won't cure bankruptcy
Posted by Amy Atkins on Mon, Aug 17, 2009 at 4:45 PM
Mashable.com, a social media news blog that covers, you guessed it, social media and news, reported today that the Wall Street Journal reported today that Reader's Digest is likely to file for bankruptcy. WSJ areported that "The Reader's Digest Association Inc., which was taken private just over two years ago, said it reached an agreement with its lenders on a restructuring plan that it will likely complete under a prepackaged bankruptcy filing in order to reduce its debt."
As a kid, I spent a lot of time with my grandparents. My grandmother was a voracious reader, and the newest copy of Reader's Digest was always in the magazine rack by the couch. And though I wasn't fond of the inspirational abridged stories it was known for, I spent many a summer afternoon (I wasn't very outdoorsy back then either) reading the jokes in "Laughter is the Best Medicine" the homilies in "Life in These United States" and the military-based funnies in "Humor in Uniform."
I can't remember the last time I picked up a Reader's Digest, but just like my summer vacations all those years ago, I'll hate to see it come to an end.
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