Could the Reader’s Digest UK edition go through the same kind of rebirth as its U.S. forebear? Administrators for the subsidiary tell MediaWeek they have had “significant interest” and are “reasonably optimistic” of a sale.
MediaWeek reckons three investors are in the frame – but is this just administrator talk to drum up a price escalation? We reckon private equity might be amongst interested bidders; a possible candidate might look like Critical Information Group, the investor group which involves Peter Bazalgette and which tried to buy Centaur last year but which usually looks for B2B investments.
What’s to do with Reader’s Digest? One idea – ensure it concentrates on becoming a real, analytical digest to the week’s key news, for busy people who are nevertheless interested in current affairs.
The UK title was put in administration
last week after failing to secure a fix to a pension shortfall, but the U.S. parent emerged from Chapter 11 bankruptcy after completing a financial restructure.