| (1889
- 1981) |
| Inducted: |
1980 |
| Region: |
Northeast |
| Industry: |
Communications
|
|
While recovering in France after being wounded in the Meuse-Argonne offensive in 1918, DeWitt Wallace practiced condensing articles from general-interest magazines. Returning to the states, he tried to pitch the idea of his Reader’s Digest filled with condensed stories to New York publishers. After being turned down by them all, he borrowed $1,300 and with significant help from his wife Lila Bell Acheson, developed the magazine himself. The Digest became one of the most successful publishing ventures in history, with thirty-nine editions printed in fifteen languages and a circulation of 18 million in the U.S. and 12 million abroad. Revenues are estimated at more than $1 billion. Every month, 100 million people around the world read it. |
