U.S. Reader's Digest Association files for bankruptcy protection

Reader's Digest Association has filed for bankruptcy protection in the United States and has negotiated agreement in principle for an arrangement to reduce the company's debt to 25 cents on the dollar. According to a story in Folio: the Chapter 11 filing affects only the U.S businesses.Reader's Digest Association (Canada) LLC, based in Montreal, is managed separately (although it mirrored recent