Bertelsmann gets bigger and thinks without music
Reuters is reporting that Bertelsmann was able
to double their profit in the first quarter of their new fiscal year compared to
the first quarter last year. The Ebit grew from 129MM Euro to 224MM Euro while
the revenues climbed to 4.46 Billion Euro – a 17.3 percent increase.
The good result was fueled by acquisitions of the british TV Station Five, the DVD mail order house Columbia House, and the print publishing company Motor-Presse.
Bertelsmann CFO Rabe did not comment on company plans for going public. While a major Belgium stock holder (GBL) wants to offer their 25.1 percent of Bertelsmann shares to the public, the Mohn family, which owns the majority of Bertelsmann, seems to prevent this move. In order to buy shares back from GBL, according to German press reports, Bertelmanns might get rid off their music business.
The good result was fueled by acquisitions of the british TV Station Five, the DVD mail order house Columbia House, and the print publishing company Motor-Presse.
Bertelsmann CFO Rabe did not comment on company plans for going public. While a major Belgium stock holder (GBL) wants to offer their 25.1 percent of Bertelsmann shares to the public, the Mohn family, which owns the majority of Bertelsmann, seems to prevent this move. In order to buy shares back from GBL, according to German press reports, Bertelmanns might get rid off their music business.
Posted: Wed - May 3, 2006 at 06:57 AM |
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Published On: May 03, 2006 06:57 AM
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Published On: May 03, 2006 06:57 AM