READERS DIGEST
April 1st, 2002
BY MONICA DOBIE
THE WALLACE Reader's Digest Funds, the controlling shareholder of Reader's Digest Association Inc. is to relinquish control of the venerable publishing house, which will henceforth, not be controlled by its founders for first time in its history. Under a deal involving large institutional investors, Reader's Digest founders, DeWitt and Lila Wallace will sell 3.6 million of their 6.2 million shares.
THE WALLACE Reader's Digest Funds, the controlling shareholder of Reader's Digest Association Inc. is to relinquish control of the venerable publishing house, which will henceforth, not be controlled by its founders for first time in its history. Under a deal involving large institutional investors, Reader's Digest founders, DeWitt and Lila Wallace will sell 3.6 million of their 6.2 million shares.
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