Google Panda was designed to go after sites with a high volume of thin or low-quality content (among other things) in an effort to improve the overall strength of the search results. But the unfortunate reality is that with just about every Panda update well-established brands with good content get caught in the filter.
We work with a lot of major publishers and nearly all of them have had at least a few titles get hit by Panda in recent years. The types of sites vary but most are trusted, authoritative brands with large audiences that have produced quality, popular content for years.
Here’s an example of site that was hit by Panda 4.0 and recovered with Panda 4.1: