Cooking Light Subscription: Rachel Ray Magazine

Rachel Ray Magazine

Rachael Ray" from Reader's Digest Association Inc. as the latter refocuses on its owned master brands, including Reader's Digest.Meredith—a media and marketing company geared toward women—said it reached an agreement in principle with author and television personality Rachael Ray to acquire the magazine and related digital-media assets from Reader's Digest for an undisclosed amount. The company expects to close the deal later this fall, and said it won't have a material effect on Meredith's fiscal 2012 performance.

"Because our agreement limited our participation to producing just a magazine, we were unable to expand the brand and its content across multiple platforms," said Reader's Digest President and Chief Executive Robert E. Guth.The company also said Peggy Northrop is stepping down as global editor-in-chief of Reader's Digest magazine and will work in an advisory role as international editor-at-large focusing on the international magazine business.The company named Liz Vaccariello—current editor-in-chief of "Every Day"—as chief content officer and editor-in-chief for the Reader's Digest Community, effective Nov. 1. In this new position, she will drive editorial direction and strategy for Reader's Digest-branded magazines, books and digital products in the U.S.