Reader's Digest at least had some intelligent, uplifting stories that didn't make you wanna blow your brains out the way all the other idiotic media does. Now that the banks own it, I'm sure it's gonna be all moronic tabloit type garbage and every issue will have a black male and a white female on the cover.

http://online.wsj.com/article/BT-CO-20090817-707854.html

NEW YORK (Dow Jones)--The Reader's Digest Association Inc., which was taken private just over two years ago, said it reached an agreement with its lenders on a restructuring plan that it will likely complete under a prepackaged bankruptcy filing in order to reduce its debt.

The company, which publishes the magazine of the same name and also has marketing operations, also chose not to make a $27 million interest payment due Monday on its 9% senior subordinated notes due 2017. It said it would use the 30-day grace period available to continue discussions with its lenders.

Under the debt-restructuring deal, the company's senior secured lenders will exchange what it said was "a substantial portion" of the company's $1.6 billion in debt for stock.

Earlier this year, Bloomberg News reported Reader's Digest had hired legal counsel to look at restructuring options, including a possible bankruptcy filing.

A steering committee including JPMorgan Chase, GE Capital, Eaton Vance, Ares, Regiment and Bank of America Merrill Lynch will provide $150 million in debtor-in-possession financing that will be convertible into exit financing, according to a person familiar with the situation. The company said it expects the DIP loan will be enough liquidity during the reorganization and beyond. The DIP loan is new money for the company, meaning none of Reader's Digest's existing loans are being rolled into the facility.

the Discovery Channel was one of the best channels til the Raus bought it out, then it was just another junk jew channel. The Discovery Channel ran some shows that were too truthful so La Cosa Israel moved in on it.

the last few remaining magazines that aren't just jew-junk are gettin squeezed out. Someone was talking about how Michael Chertoff's brother or something moved on Popular Mechanics, infiltrated it, took it over, because they printed something mildly deviating from the party line of ra ra War on Terror for Israel.

Benjamin Chertoff is a magazine and video journalist. He began his career at the age of 19, working as an intern in the features department at Time Out New York Magazine -- including researching the magazine's Urban Legends story -- and later contributing to the features section. Along with freelancing for several national magazines, he then worked at Men's Journal. In 2003 he helped start the political non-profit Music for America. He moved to Popular Mechanics in September, 2004. There, he worked as the magazine's research editor, and helped to manage the reporting for magazine's March, 2005 9/11: Debunking The Myths story, as well as the magazine's coverage of the aftermath to Hurricane Katrina, and many other aviation, military and technology stories. He is currently the Online Editor of Popular Mechanics, and edits all the non-print outlets of Popular Mechanics Magazine.[4]

The magazine's investigation of 9/11 conspiracy theories was the first of its kind. Chertoff has stated that the magazine's editors decided to investigate 9/11 Myths after seeing Jimmy Walter's full page ad in the New York Times for a book called Painful Questions. In a June, 2006 column in Scientific American magazine,[5] Skeptics Society president Dr. Michael Shermer called the Popular Mechanics article "the single best debunking of this conspiratorial codswallop." In 2006, the magazine published the book Debunking 9/11 Myths: Why Conspiracy Theories Can't Stand Up to the Facts, which greatly expanded on the original story, including new myths and much more detail than could fit in the original, magazine article.