Reader's Digest has nine offers for potential buyers

Reader's Digest has revealed nine offers to take over the business

The administrator managing the acquisition of Reader's Digest UK has received nine possible offers to take over the long-established publication.

Moore Stephens, the administrator responsible for the magazine, said that the deadline for itnerest had passed earlier in the week and was now continuing with negotiations with the potential bidders.

The April edition will hit newsstands later this month as planned and the publication will continue to publish May, June and July issues.

The magazine's sales team is marketing ad space to media agencies and new direct marketing campaigns are underway.

Reader's Digest UK had to call on administrators after it failed to secure regulatory backing for a funding deal for its pension scheme, which suffered a £125m decline.

Source: Press Gazette

Published on: 16/03/2010 14:50:00