- Mary G Berner, CEO
The Reader’s Digest Association was established in 1921 by DeWitt Wallace of Minnesota who conceived the idea of publishing a magazine containing articles condensed from many popular magazines. He solicited 1,500 subscriptions at $3 each and published the first issue of Reader’s Digest in 1922.
Later in 1922, Wallace and his new wife, Lila Bell Acheson, moved to Pleasantville, N.Y., and took up residence in a garage and pony shed. Their magazine quickly became successful, eventually growing to be the best-selling magazine in the United States, published in 50 editions and 19 languages, reaching 85 million readers every month in 78 countries.
As a global media and marketing company, the Reader?s Digest Association went public in 1990 with the sale of nonvoting shares of its stock. A second class of stock retains voting rights and is mainly held by the Wallace Funds, a charitable foundation established by the Wallaces.
On August 24, 2009, the Reader?s Digest Association filed for reorganization under Chapter 11 of the United States Bankruptcy Code.
Below is a count of the company?s news outlets by media sector.
- Birds and Blooms - Pleasantville, NY
- Country - Pleasantville, NY
- Country Woman - Pleasantville, NY
- Farm and Ranch Living - Pleasantville, NY
- Readers Digest - Pleasantville, NY
- Readers Digest Large Print for Easier Reading - Pleasantville, NY
- Readers Digest Selecciones - Pleasantville, NY
- Reminisce - Greendale, WI
- Taste of Home - Greendale, WI
- Taste of Home Healthy Cooking - Greendale, WI
- Taste of Home Simple and Delicious - Greendale, WI
- The Family Handyman - Eagan, MN