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Reader's Digest in trouble again

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Reader's Digest in trouble again

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The parent company of Reader’s Digest is filing for bankruptcy protection from its creditors for the second time in three and a half years.

The 91-year-old magazine is labouring under nearly 350 million euros worth of debt and, like other traditional print operations, is struggling to cope with a shift by readers to electronic media.

RDA Holding Co. said a reorganisation of its finances should mean it can keep publishing the magazine worldwide, as well as three other titles it owns.