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Reader's Digest Acquires Allrecipes.com for $66 Million

The Reader's Digest Association said it plans to close on its purchase of recipe website Allrecipes.com for $66 million in its fourth fiscal quarter ending June 30, writes Yahoo News (via MediaBuyerPlanner). The newly acquired site will serve as a portal for Readers Digest's current food websites that support its magazine properties, including Taste of Home and Light & Tasty. Reader's Digest will fund the deal with existing debt capacity.

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