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'Reader's Digest' May Be Moving to Manhattan
Reader's Digest may be giving up its 114-acre campus in Chapaqua, NY and moving its editorial team to 750 Third Avenue, according to the New York Post's Keith Kelly. This move may be of particular interest to New York employees of the Economist, which signed a lease on 62,000 square feet in August. It might also be of interest to… Well, the staff of Portfolio.com, since we, too, work out of that address. (Memo to self: Label brown bag lunches with Portfolio.com URL.)
Reader's Digest Association, the 87-year-old magazine's parent company, has had a tough year: In August, it filed for Chapter 11 bankruptcy protection. The company laid off 300 employees this year.
Earlier this month, the New York Times' Richard Pérez-Peña reported that Purpose Driven Connection, a joint venture between RDA and mega-church preacher Rick Warren was folding after only four issues. News of the magazine's development was first broken by former Portfolio.com Mixed Media blogger Jeff Bercovici in August 2008.
Matt Haber is the media blogger for Portfolio.com.
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