Word: readerã
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...filing Highfields says that it wanted Reader??€™s Digest to improve or sell some of their music, book and magazine businesses before looking to make any more business acquisitions...
...Reader??€™s Digest has seen its profits slump with the economy, but nevertheless purchased Reiman Publications for $760 million in March, causing Highfields to step up the struggle to take control of Reader??€™s Digest...
Highfields currently owns 10 percent of Reader??€™s Digest non-voting stock and 3.5 percent of its voting stock. In the deal it would acquire a majority of the voting stock from Wallace-Reader??€™s Digest Funds, which owns 50 percent of the voting stock...
...Reader??€™s Digest has seen its revenues and stock price drop and has had to stop production of two magazines because of the economic downturn’s pinch on the publishing industry and decreased business from their sweepstakes mailings...
...source close to the deal said that while Reader??€™s Digest was interested in Highfields’ suggestions about ceasing acquisitions of other companies, the company felt that the Reiman deal was too good to pass...