Reader’s Digest Cuts 8% of Workforce

NEW YORK (Reuters) – The Reader’s Digest Association Inc is cutting about 8 percent of its staff as it tries to strengthen itself against the world financial crisis. Reader’s Digest, which publishes 50 editions of its namesake magazine around the world as well as other magazines, books and videos, also will force some employees to […]

Banks End Talks To Sell Daewoo Electronics to Ripplewood

SEOUL (Reuters) – Creditors of Daewoo Electronics have ended talks to sell the South Korean appliance and TV maker to U.S. private equity firm Ripplewood Holdings and would look at ways to restructure Daewoo, a bank official said on Wednesday. The collapse of the talks marks the third failed attempt to sell loss-making Daewoo. Tighter […]

Ripplewood Suspends Fund-Raising

Ripplewood Holdings has suspended fund-raising for its third vehicle, according to LBO Wire. The firm had been targeting $2.5 billion for more than a year, but had not yet held a first close.

Moody’s Downgrades Reader’s Digest

Moody’s Investors Service has downgraded The Reader’s Digest Association’s corporate family rating and probability of default rating from B2 to B3. Reader’s Digest is a portfolio company of Ripplewood Holdings.

Reader’s Digest Unloads Books re Fun

The Reader’s Digest Association, a portfolio company of Ripplewood Holdings, has agreed to sell certain assets of display marketing company Books are Fun to Imagine Nation Books, for approximately $17.5 million.

Ripplewood Named Preferred Bidder for Daewoo Electronics

SEOUL (Reuters) – U.S. private equity firm Ripplewood Holdings was picked on Wednesday as the favored bidder to buy South Korea’s Daewoo Electronics, after two failed attempts to sell the loss-making appliance and TV maker. Ripplewood beat a consortium of Digilant Systems and Russian investors in the race for Daewoo, formerly part of the failed […]

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