READER'S DIGEST'S BRITISH EDITION CLOSES DOWN AFTER 86 YEARS

Reader's Digest's UK edition has closed down after 86 years due to 'financial pressures, as the iconic magazine's editor-in-chief shares a touching tribute.

The title, which in its heyday in the 1950s took on the tobacco companies about the links between smoking and lung cancer, has now ceased to trade in Britain.

In an honest and heartfelt tribute, the iconic magazine's editor-in-chief Eva Mackevic said 'the company just couldn't withstand the financial pressures of today's unforgiving magazine publishing landscape'.

The closure comes 14 years after it fell into administration because of a £125m pension fund deficit.

The struggling magazine was rescued by Better Captiol before it was sold again in 2014 to venture capitalist Mike Luckwell, who made millions from the TV company behind Bob the Builder.

Founded in the the US in 1922, Reader's Digest - whose motto was 'Articles of enduring interest' - was first published in the UK in 1938.

Back in 2000 Reader’s Digest UK was selling more than one million copies a month.

Ms Mackevic wrote a lengthy emotional tribute to the magazine on her LinkedIn page.

Announcing the news, she said: 'After 86 wonderful years, I am very sad to share that Reader's Digest UK has come to an end. It has been my privilege and joy to contribute to this iconic publication for nearly eight years, leading its talented team for the last six.

'I want to extend my heartfelt gratitude to all the incredible colleagues, writers, PRs, and brands I've had the pleasure of collaborating with over the years. Your passion and expertise have made this journey unforgettable, and I've been fortunate enough to make some amazing friends along the way.'

It comes on the back of the company announcing in December last year that its Canada edition would be shutting down due to 'declining ad sales revenues, increased production and delivery costs and changes in consumer reading habits'.

Reader's Digest UK collapsed into a company voluntary arrangement in 2013 after a severe decline in its book and CD selling business.

It saw 95 out of 125 staff lose their jobs but allowed the magazine to continue trading while exiting unprofitable activities.

MailOnline has contacted Reader's Digest for comment.

2024-04-29T20:50:19Z dg43tfdfdgfd