NEW YORK: Reader's Digest Association Inc., publisher of the iconic general interest magazine that began gracing American homes in 1922 and now reaches a worldwide audience of 130 million, filed for bankruptcy protection Monday as it faces falling print circulation in the Internet age and looming debt payments.
Known for its heartwarming stories about American life as other publications moved toward edgier fare, the company's flagship Reader's Digest magazine has seen its U.S. circulation drop from a peak of more than 17 million in the 1970s to just above 8 million last year.
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