Reader's Digest sold for $2.4 billion

In what is one of the biggest magazine sales in the past decade, Reader's Digest has agreed to be sold to a private equity firm for $1.6 billion, according to a story from Folio: magazine. The buyer is Ripplewood Holdings Inc., founded in 1995 by Tim Collins, the former managing director of Canadian buyout firm Onex Corporation. Ripplewood currently manages five institutional private equity funds