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Reader’s Digest optimism is high for possible bidder

READER’S Digest could be saved by a potential buyer after the iconic magazine’s UK arm went into administration last month. Moore Stephens was appointed as administrator for the British arm of the US based company on 17 February and said that negotiations with interested parties have already begun. “While we are reasonably optimistic, it is difficult to predict a timescale, but negotiations with interested parties have begun,” commented administrator Philip Sykes. While negotiations are ongoing, the magazine continues to trade and will print its April issue. Reader’s Digest has 117 staff in the UK and has a monthly circulation of 465,028.