Reader’s Digest Publisher Files for Bankruptcy Grapples with $465M in debt By Matt Cantor, Newser User Posted Feb 18, 2013 8:44 AM CST 10 comments Comments Reader's Digest publisher RDA Holdings has filed for bankruptcy. (PRNewsFoto/Reader's Digest) (Newser) – Bogged down by some $465 million in debt, Reader's Digest publisher RDA Holdings has filed for bankruptcy—again. Last night's Chapter 11 filing was the publisher's second in 3 ½ years, the Wall Street Journal reports. The company says this second bankruptcy will only make it stronger, allowing it to focus on its North American business and cut its debt to $100 million. "It’s a very good new lease on life," CEO Bob Guth tells Bloomberg. Guth is the company's third CEO since its last bankruptcy, which, of course, was also supposed to give it a new lease on life; the bankruptcy judge at the time declared that the company would emerge "on a very healthy and viable basis." Instead, the pressures facing the print industry have weighed on the company—its most recent earnings showed revenue down 26% on the year.