readers_digest_logoIt was reported today that one of the country’s most widely read and iconic publications is planning to file for bankruptcy. According to The Wall Street Journal, Reader’s Digest has made an agreement with its lenders on a restructuring plan – which will likely happen under a prepackaged bankruptcy filing in order to reduce its debt. While the publication has one of the largest circulations in the US, it has fallen short like so many of the other top industry publications. As PR practitioners, it’s hard for us to keep seeing publications suffering, to see talented reporters and editors affected by the cutbacks or bankruptcy filings and lose their jobs. For LMGPR, working with the media is a partnership and very plainly, we need them in order to successfully do our job.  Best of luck to Reader’s Digest on its reorganization – we’re hoping for the best.