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Posts Tagged ‘Robert Guth’

Reader’s Digest UK Sold for About Two Dollars

Reader’s Digest UK has been sold for the low price of just one pound, which works out to about $1.67. The New York Post reports that Better Capital, which bought the magazine after it declared bankruptcy in 2010, sold the glossy to Mike Luckwell, who used to run HIT Entertainments.

The United States version of RD is doing much better than its UK counterpart. The magazine increased its publishing frequency last year after Robert Guth, president and CEO of Reader’s Digest Association, said RD’s digital business was strengthening.

One quick fun fact about RD UK’s new owner? Luckwell’s HIT Entertainments is the company responsible for launching the Bob the Builder show.

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Reader’s Digest to Increase Publishing Frequency

Reader’s Digest is upping its publishing frequency. Starting next year, there will be 12 issues of RD printed each year, up from 10 this year. Robert Guth, president and CEO of RDA, credited RD’s growing digital business with the increase.

“As digital becomes a driving force for our business, the economics are changing as well,” said Guth, in a statement. “Our digital issues are garnering unprecedented demand and readers have been vocal about their desire for new content on a more-frequent basis. The growing demand for Reader’s Digest is a tribute to our editorial team, led by Liz Vaccariello, who continues to guide the editorial direction of the publication in ways that resonate strongly with our reader.”

Ad pages for RD are also a factor, as they’ve increased by 30 percent since 2010.

RDA Sells Weekly Reader

Reader’s Digest Association — in accordance with its stated goal of scaling back operations to just a few brands — has sold Weekly Reader to Scholastic, Inc. Weekly Reader is an educational magazine designed for the kindergarten through 12th grade classroom.

“As you have seen, we are very deliberately moving forward with our transformation plans for RDA,” said CEO Robert Guth in a memo that was obtained by the New York Post.

The exact number of the deal is unknown, but sources told the Post they believe it to be somewhere around or right below $5 million.

Buyers for AllRecipes.com Might Get Sweet Deal

In late October, Reader’s Digest Association (RDA) sold Every Day with Rachael Ray to Meredith, and within a week, announced that it was putting AllRecipes.com on the block.

At the time, Robert Guth, RDA’s CEO, said the company decided to sell the popular site as a “commitment to enhancing shareholder value and sharpening our strategic and financial focus on our core master brands.” However, rumors are that potential buyers for AllRecipes are eyeing the site for a lot less than most thought.

According to the New York Post, the lead candidates to buy AllRecipes are Meredith, Scripps Network and Amazon. Each is allegedly hoping to get the food site for less than $200 million. We’re not sure exactly how much analysts think AllRecipes is worth, but that seems about right to us. It’s a popular site; but a limited one. Stay tuned for more, the site is a nice brand to have, so we’re sure it’ll be sold soon.

Reader’s Digest Association Puts AllRecipes.com Up for Sale

The purging continues at Reader’s Digest Association (RDA). Last week the company sold Every Day with Rachael Ray to Meredith, and now, according to Adweeek, it’s selling AllRecipes.com. Morgan Stanley and Evercore Partners are working with RDA on a possible sale, and it will certainly garner a high number; the recipe site is an extremely popular destination for foodies.

Even though it maintains a strong online presence, selling AllRecipes.com is part of RDA’s dedication to its central brands. “The exploration of a sale of Allrecipes demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus on our core master brands such as Reader’s Digest, Taste of Home and Family Handyman,” said recently appointed CEO Robert Guth.

Rachael Ray’s Demand for a Delish Deal Lead to Sale of Magazine

(Via Esquire)

Keep in mind that this is only a rumor, but according to Adweek, the biggest reason for Reader’s Digest Association (RDA) selling Every Day with Rachael Ray to Meredith yesterday was that Rachael Ray wanted more money. One source claimed that Ray was never happy with the amount of money she was getting from the magazine, and another said, “Rachael wanted a better deal, and they [RDA] [weren't] prepared to do it.”

Another problem was RDA’s contract with Ray, which kept the company from growing the title. “Because our agreement limited our participation to producing just a magazine, we were unable to expand the brand and its content across multiple platforms,” RDA’s CEO, Robert Guth, admitted. “Going forward, it was not a fit with our master brand strategy.”

Meredith apparently has a better deal in place as far as expanding the brand, but there’s no word on if the new contract includes more money for Ray.

How about that headline, by the way? We almost went with something that included “Sad Sammie” or “Not So Yum-O,” but ultimately went with “Delish” because it didn’t make us want to stab ourselves.

Reader’s Digest Association Gets Third CEO in Five Months

Reader’s Digest Association has yet another new CEO. The New York Post reports that Robert Guth, a board member, will replace Tom Williams, who was just named to the position in April.

The move is just more bad news for the company. Its most prominent magazine aside from Reader’s Digest, Every Day with Rachael Ray, has been getting bested by a big competitor, Food Network Magazinefor years now. On top of that ratings firms recently downgraded the company from stable to negative.

Guth clearly has his work cut out for him.