Gawker 
Nov 16, 2006 9:50 AM
126
Media acquisition news:
The Reader's Digest Association, Inc. said on Thursday that it has agreed to be acquired by an investor group led by Manhattan private equity firm Ripplewood Holdings for $2.4 billion, plus the assumption of debt... Pleasantville, N.Y.-based Reader's Digest has been facing an uphill battle since the start of the year. Earlier this month, the publisher of the popular Reader's Digest magazine reported a 9% gain in quarterly earnings that fell far short of Wall Street estimates.We've little experience in restructuring, but here's one suggestion for improving profitability: Stop paying $300 a pop for stuff like this:
Caught up in his lecture on energy, my physical science professor had been writing furiously on the blackboard about horsepower and James Watt, who coined the term. In the midst of his scribbling, the teacher lost his place. He paused, looked at the board and wondered aloud, "Where's Watt?" From the back I called out, "Watt's on second. Who's on first."
Reader's Digest to be acquired for $2.4 billion [NYB]
Contact information for this author is not available.
