Western Digital 1 TB External

I see a lot of help topics in regard to WD products and Macs.
My issue is that I get an error message when I plug it in. the message reads.
(The disk you inserted was not readable by this computer.) along with 3 buttons below it. Initialize, Ignore and Eject.
I got to initialize the drive shows up but still won't open. Can not click mount and when I try to create a new image to send it elsewhere I get a error message input/output error? I also noticed the drive now says Mac Ox external (journaled) not exfat. There is data on it. I have tried another mac and PC as well. Please advise
 
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