Which American publisher filed for bankruptcy in 2011 after building a major magazine portfolio?

Reader’s Digest Association filed for Chapter 11 bankruptcy protection in 2011 after years of declining print circulation, heavy debt, and changing consumer habits.

The company was best known for Reader’s Digest magazine, which began in 1922 and became one of the world’s most widely read periodicals. Over time, the business expanded into books, television, music, and other media products. It also acquired magazines and publishers in an effort to diversify.

Reader’s Digest Association first entered bankruptcy protection in 2009 and completed a restructuring. It filed again in 2011, when continued weakness in print advertising and circulation made the debt burden difficult to manage. The company exited bankruptcy after a financial reorganization.

The corporate name later changed, and the business eventually became associated with Trusted Media Brands. Reader’s Digest magazine continued as a title, so the bankruptcy of its publisher did not mean that the magazine itself immediately ceased publication.