Bertelsmann revs, profits skyrocket

Multimedia sector's sales double to $200 mil

BERLIN — German media giant Bertelsmann has posted a 12.2% increase in revenues to DM14.5 billion ($7.3 billion) in the first half of its fiscal year, with overall profits up 75% to some $500 million.

The group’s most active section was its multimedia business, which saw sales double to $200 million.

In the U.S., Bertelsmann saw an increase in revenue of 21% to $2.6 billion, while German operations climbed 11.4% to $2.1 billion.

The sale of its America Online shares last year contributed to the increased revenue. The company plans to continue investments in Internet activities, with $1.4 billion slated for this year.

In related news, the European Commission has OK’d Bertelsmann’s plans to set up a paperback-publishing joint venture with Spain’s Planeta called Nuevas Ediciones de Bolsillo. Planeta owns half of Bertelsmann’s Spanish-language Web bookstore, BOL Iberica.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading