Globe's John Ibbitson says we should mourn demise of Reader's Digest

Reader's Digest may not long survive. We should mourn. The American parent of the world's bestselling general interest magazine said this week it would seek bankruptcy protection. The Digest is cutting its guaranteed circulation in the United States from eight million copies to 5.5 million, and from 12 issues a year to 10.

Reader's Digest Canada and other global operations are not affected, and the U.S. parent is expected to survive through a debt-for-equity swap. But a magazine that is already a shadow of its former self is clearly fading away.

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