NEW YORK (AP) - The parent company of Reader's Digest has filed for Chapter 11 bankruptcy protection for the second time in less than four years, saying it needs to cut its debt so it can keep restructuring.
RDA Holding Co. says it will keep publishing during the bankruptcy. It is aiming to be out of Chapter 11 within six months.
The New York company said late Sunday that it plans to cut its debt load by 80% during the restructuring, leaving it with about $100 million in debt.
RDA's Reader's Digest Association Inc. filed for Chapter 11 protection in 2009 in the midst of a recession and a drop in advertising and circulation. The company emerged from bankruptcy in early 2010.
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Wednesday, May 22 2013 12:27 PM EDT2013-05-22 16:27:26 GMT
Black and Hispanic men are more likely to be stopped in the Bronx and Brooklyn than other boroughs, according to an analysis of police street stop data released Wednesday by the New York Civil Liberties Union.
Black and Hispanic men are more likely to be stopped in the Bronx and Brooklyn than other boroughs, according to an analysis of police street stop data released Wednesday by the New York Civil Liberties Union.
Wednesday, May 22 2013 12:10 PM EDT2013-05-22 16:10:42 GMT
The NYPD arrested a suspect in the latest anti-gay attack in the city, said police.
The NYPD arrested a suspect in the latest anti-gay attack in the city, said police. The incident Monday night involved two men, who police say, had met at the Bowery Mission and went out drinking together in the East Village. Roman Gornell, 39, was arrested on Wednesday.
Wednesday, May 22 2013 8:23 AM EDT2013-05-22 12:23:21 GMT
Ex-congressman Anthony Weiner whose career imploded after raunchy tweets said in a YouTube video announcement that he's in the New York City mayoral race.
Ex-congressman Anthony Weiner whose career imploded after raunchy tweets said in a YouTube video announcement that he's in the New York City mayoral race. A poll released Wednesday placed Weiner in second place behind City Council Speaker Christine Quinn in a Democratic primary.
Tuesday, May 21 2013 9:51 PM EDT2013-05-22 01:51:10 GMT
Just a few days after Mark Carson, 32, was killed for being gay, and only a few hours after a massive rally in the west village calling for an end to the anti-gay violence, it happened again.
Just a few days after Mark Carson, 32, was killed for being gay, and only a few hours after a massive rally in the west village calling for an end to the anti-gay violence, it happened again.
Tuesday, May 21 2013 5:33 PM EDT2013-05-21 21:33:52 GMT
For 35 years, Hubbard Street Dance Chicago has been bringing its brand of contemporary dance to audiences around the world. One of the company's frequent stops is the Joyce Theater in Chelsea where it
For 35 years, Hubbard Street Dance Chicago has been bringing its brand of contemporary dance to audiences around the world. One of the company's frequent stops is the Joyce Theater in Chelsea where it
Tuesday, May 21 2013 1:15 PM EDT2013-05-21 17:15:24 GMT
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers. Edwin Vargas was arrested Tuesday outside his home in Bronxville.
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers.
Tuesday, May 21 2013 7:23 AM EDT2013-05-21 11:23:53 GMT
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
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