According to today's Wall Street Journal:
Reader's Digest Association Inc., the magazine and website publisher that emerged from bankruptcy protection in early 2010, has put itself up for sale and hopes to fetch around $1 billion, according to people familiar with the matter.
The New York-based company, which is best known for its namesake family magazine, has hired financial advisers to shop the company to potential buyers, including private-equity firms and other media companies, these people said. The process may result in the sale or spinoff of some Reader's Digest properties rather than the sale of the entire company, two of the people added.
