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Posts Tagged ‘Weekly Reader’

Weekly Reader is Folding

Weekly Reader magazine is shutting down. The New York Post reports that the magazine is being folded into Scholastic News. As part of the change, Scholastic is cutting 55 of the Weekly Reader’s 60 staffers.

“We are confident that the combined Scholastic News/Weekly Reader team will now offer an even better news and information experience in print and digital formats for teachers and students,” a Scholastic spokesperson told the Post.

RDA sold Weekly Reader to Scholastic in February.

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RDA Cuts Staff

In the wake of Reader’s Digest Association selling Weekly Reader to Scholastic Inc., the New York Post is reporting that about 40 staffers have been let go. Even though the deal was finalized last month, RDA is operating Weekly Reader through June.

Officials at Scholastic haven’t offered any clues into how many staffers will be kept once the publication is under their control. “We’re still working on it,” a spokesperson told the Post.

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.