RDA Holdings Names New Board of Directors
CEO Mary Berner retains seat.
RDA Holding Co., the parent company of Reader's Digest Association, announced a new board of directors today (approved by the majority of its shareholders). RDA president and CEO Mary Berner retains her board seat.
The new board includes:
*Randall Curran, CEO of telecommunications company DELTACOM, Inc.
*William Drewery, former chairman of media investments at private equity firm Diamond Castle Holdings.
*Heath Freeman, managing director of Alden Global Capital and a current board member of MediaNews Group, the second largest newspaper company in the U.S. by circulation.
*Robert Guth, a member of the board of directors of the Nominating and Governance Committee at wireless provider Telos Holdings, Corp.
*Keith Richman, CEO of Break Media, an Internet entertainment company that operates properties such as Break.com and WallstreetFighter.
*Ryan Schaper, managing member of investment management firm Point Lobos Capital.
*Doug Teitelbaum, managing partner of investment firm Homewood Capital LLC.
*Martin Wade, chairman and CEO of telecom company Broadcaster, Inc.
RDA Holdings Co. previously announced that revenue in the fourth quarter of 2010 dropped 15.9 percent to $521.8 million compared to the fourth quarter of 2009. Meanwhile, net income rose to $58.5 million in the fourth quarter, compared to a net loss of $26.7 million for the same period last year.
Looking only at the company's performance since February 2010, when RDA emerged from bankruptcy protection, it generated $1.5 billion in revenue, compared to $2.1 billion in calendar year 2009, with a net loss of $40.5 million, compared to a net loss of $921.4 million in 2009.