Nioma banner Fidelity bank banner Bayelsa State banner
Reader’s Digest bankrupt again, sold for £1 (about N272 only)

By News Express on 18/02/2014

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 2,607

Reader’s Digest UK has been sold for just £1 (about N272 only) after it declared bankruptcy for the second time. The world-famous brand was sold yesterday by Better Capital a UK hedge fund to a venture capitalist that created Bob the Builder, according to a report in The New York Post.

“Better Capital, run by Jon Moulton, bought the magazine out of bankruptcy for £14m in 2010. Moulton, a distressed asset manager, pumped an additional £23m into the company,” the Post recalled, adding:

“In 2013 Reader’s Digest UK filed for a second bankruptcy, which saw massive layoffs, but allowed the publication to continue.

“The new owner is UK-based Mike Luckwell, who ran HIT Entertainments, which made Bob the Builder children’s TV show.

“It is widely reported in the UK press that Luckwell claimed that Luckwell will expand Reader’s Digest business into a financial services business.”

Source News Express

Posted 19/02/2014 12:23:08 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+



REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...


You may also like...
Exodus hits Catholic Church

Day Osinbajo’s helicopter’s engine failed — Aso Villa...

It will be a sunny Sunday, with cloudy...

Chief of Air Staff in recruitment scandal

Nigerian Army detention facilities meet global standard: Red...

Ogongorigo Gongomasha: Masters Forever

Lagos’ most wanted kidnapper, armourer fall into police...

Army moves against saboteurs, Boko Haram collaborators

Boko Haram leader Abubakar Shekau’s look alike arrested...

Court orders IGP to unseal Peace Corps’ head...

FG takes tax advocacy to the streets of...

Subscribers rush to avoid disconnection as SIM Card...


Latest News 2019: Atiku begins nationwide tour, set for mega declaration on July 21 Fayemi storms Ado Ekiti in victory procession 23 soldiers, 8 trucks missing in Borno after Boko Haram ambush Four policemen burnt in Edo Presidency mocks Fayose Residents cry as ocean submerges Ondo community Cybercrime: Benin Republic releases Nigerian students to embassy Another Nigerian shot dead in S. Africa British Minister resigns over indecent messages to women NSCDC to conduct biometric registration for housemaids, others Sell, spray, mutilate banknotes, go to Jail, CBN Warns Nigerians Ekiti Election: Nigerians have spoken — Minister


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (360,998 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (357,771 views) Shameless Genevieve Nnaji exposes breasts in public (286,086 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (234,739 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (213,899 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (212,185 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (185,927 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (167,944 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (156,012 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (152,265 views) Lagos plane crash: Journalist releases victims’ names (147,198 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (138,472 views)


Categories Advertorials (3) African Press Organisation (81) Art & Literature (52) Business & Economy (3,339) Business Verdict (45) Columnists (886) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (516) Features (614) Global Business Monitor (284) International (2,128) Interview (157) Live Commentary (28) Love Matters (127) News (37,142) Opinion (1,021) Pidgin (10) Politics (5,569) Religion (783) Sports (1,609) Stock Watch (33) AMA & Al Jazeera Global Update


CBN banner

Firstmobile banner




FRANCE vs CROATIA 4-2 Highlights & Goals 2018


APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera