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Reader S Digest Association Inc

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BUSINESS
February 13, 1996 | Times Staff and Wire Reports
Reader's Digest Editor Resigns: Reader's Digest Assn. Inc. said Kenneth Tomlinson has quit, two weeks after the firm announced a streamlining that included the firing of as many as 1,000 employees. The Pleasantville, N.Y.-based book and magazine publisher said Tomlinson, 51, left after six years as editor in chief to pursue other interests. He could not be reached for comment.
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BUSINESS
August 21, 2001
* Reader's Digest Assn. Inc., which has issued earnings warnings three times in recent months, named Michael Geltzeiler chief financial officer. He replaces George Scimone, 54, the publisher of the world's most widely read magazine said. Geltzeiler, 42, is currently chief financial officer at ACNielsen Corp., which was sold to VNU in February. Reader's Digest shares rose 1 cent to $19.91 on the NYSE. * Toyota Motor Corp. raised U.S.
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BUSINESS
February 26, 1999 | Associated Press
Reader's Digest Assn. Inc. said it wants to lend its name to credit cards, insurance policies and other new products as circulation at its flagship magazine declines. Chief Executive Thomas Ryder told analysts the company plans to launch a range of non-publishing products--focusing first on financial services and health--as it continues efforts to revive profit. Like other media companies, Pleasantville, N.Y.
BUSINESS
July 26, 2001 | Reuters
Reader's Digest Assn. Inc. said its fourth-quarter earnings would be sharply lower than expected amid the economic and advertising downturn and announced plans to restructure its U.S. books and entertainment division. The sharply lowered forecast surprised analysts and rattled investors, driving the company's shares down 75 cents to close at $21.50 on the NYSE. The Pleasantville, N.Y.
BUSINESS
August 21, 2001
* Reader's Digest Assn. Inc., which has issued earnings warnings three times in recent months, named Michael Geltzeiler chief financial officer. He replaces George Scimone, 54, the publisher of the world's most widely read magazine said. Geltzeiler, 42, is currently chief financial officer at ACNielsen Corp., which was sold to VNU in February. Reader's Digest shares rose 1 cent to $19.91 on the NYSE. * Toyota Motor Corp. raised U.S.
BUSINESS
July 26, 2001 | Reuters
Reader's Digest Assn. Inc. said its fourth-quarter earnings would be sharply lower than expected amid the economic and advertising downturn and announced plans to restructure its U.S. books and entertainment division. The sharply lowered forecast surprised analysts and rattled investors, driving the company's shares down 75 cents to close at $21.50 on the NYSE. The Pleasantville, N.Y.
BUSINESS
September 11, 1995 | Times Staff and Wire Reports
Reader's Digest Plans New Edition: The Reader's Digest Assn. Inc. said the edition, called Reader's Digest San Sara, will be launched in April, 1996, bringing the number of languages in which Reader's Digest is published to 19. The edition will begin with a print run of 130,000 copies, said the Pleasantville, N.Y.-based publishing company. A copy will cost about $3.80.
BUSINESS
August 22, 1991 | From Times Staff and Wire Reports
Reader's Digest Profit Up 10%: The company reported a profit of $22.1 million, or 18 cents per share, for the fourth quarter ended June 30. That was up from $20 million, or 16 cents per share, for the year-earlier period. Reader's Digest Assn., based in Pleasantville, N.Y., said revenue for the quarter was $534.7 million, up 11% from last year. For the year, profit rose to $209.1 million, or $1.74 per share, from the previous year's $176 million, or $1.48 per share.
BUSINESS
September 16, 1998 | From Reuters
Reader's Digest is putting 39 works from its storied art collection--including paintings by Monet, Van Gogh and Chagall--on the auction block as part of a plan to shore up the struggling publisher. Reader's Digest Assn. Inc. said in a statement that Sotheby's Holdings Inc. will auction the 39 impressionist, modern and contemporary masterpieces--valued at up to $100 million--in New York on Nov. 16 and 17.
BUSINESS
February 26, 1999 | Associated Press
Reader's Digest Assn. Inc. said it wants to lend its name to credit cards, insurance policies and other new products as circulation at its flagship magazine declines. Chief Executive Thomas Ryder told analysts the company plans to launch a range of non-publishing products--focusing first on financial services and health--as it continues efforts to revive profit. Like other media companies, Pleasantville, N.Y.
BUSINESS
September 16, 1998 | From Reuters
Reader's Digest is putting 39 works from its storied art collection--including paintings by Monet, Van Gogh and Chagall--on the auction block as part of a plan to shore up the struggling publisher. Reader's Digest Assn. Inc. said in a statement that Sotheby's Holdings Inc. will auction the 39 impressionist, modern and contemporary masterpieces--valued at up to $100 million--in New York on Nov. 16 and 17.
BUSINESS
April 29, 1998 | From Associated Press
Reader's Digest Assn. Inc. is under scrutiny by Indiana authorities who want to see if the company used misleading sweepstakes come-ons. It was also included in a broader review in Connecticut. The Pleasantville, N.Y.-based publishing company said Tuesday that it had not been notified of any formal investigation, and spokeswoman Donna Pierpont said all mailings were honest and legal. Indiana Atty. Gen.
BUSINESS
October 2, 1996 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
The Reader's Digest Assn., nobody's idea of a hip outfit, Tuesday unveiled its "online corporate strategy," including an outpost on the World Wide Web and a new Internet search tool to compete with Yahoo, Excite and other electronic info gleaners. If the staid publisher of the 74-year-old Reader's Digest seems an unlikely entrant into a sector dominated by twentysomethings, well, that's precisely the company's problem.
BUSINESS
April 24, 1996 | Times Staff and Wire Reports
Reader's Digest Settles Lawsuit: Reader's Digest Assn. Inc. has agreed to pay $40 million to settle the class-action suit accusing it of unfairly monopolizing the distribution of magazines for school fund-raisers. The lawsuit was filed against Reader's Digest and its QSP Inc. unit in 1992 by the Chino Unified School District and other schools. About 23,000 schools are represented in the suit filed in U.S. District Court in San Diego.
BUSINESS
February 13, 1996 | Times Staff and Wire Reports
Reader's Digest Editor Resigns: Reader's Digest Assn. Inc. said Kenneth Tomlinson has quit, two weeks after the firm announced a streamlining that included the firing of as many as 1,000 employees. The Pleasantville, N.Y.-based book and magazine publisher said Tomlinson, 51, left after six years as editor in chief to pursue other interests. He could not be reached for comment.
BUSINESS
May 26, 1989 | AL DELUGACH, Times Staff Writer
Reader's Digest, an American institution that has carried a distinctive mix of information, jokes and witty anecdotes into millions of homes each month for 67 years, is going public. The magazine unveiled a plan Thursday for an initial public offering of shares in about six months. It would be pointless, however, for any of the nation's grand acquisitors to prepare a takeover offer. The stock to be sold will have no voting rights. The voting stock will remain closely held by trusts set up by the magazine's conservative founders, DeWitt and Lila Wallace, who started it in a Greenwich Village basement in New York.
BUSINESS
April 29, 1998 | From Associated Press
Reader's Digest Assn. Inc. is under scrutiny by Indiana authorities who want to see if the company used misleading sweepstakes come-ons. It was also included in a broader review in Connecticut. The Pleasantville, N.Y.-based publishing company said Tuesday that it had not been notified of any formal investigation, and spokeswoman Donna Pierpont said all mailings were honest and legal. Indiana Atty. Gen.
BUSINESS
September 11, 1995 | Times Staff and Wire Reports
Reader's Digest Plans New Edition: The Reader's Digest Assn. Inc. said the edition, called Reader's Digest San Sara, will be launched in April, 1996, bringing the number of languages in which Reader's Digest is published to 19. The edition will begin with a print run of 130,000 copies, said the Pleasantville, N.Y.-based publishing company. A copy will cost about $3.80.
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