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AWAY FROM INTERNET: Bertelsmann to drop online books and music; German media group signals U-turn in strategy. Financial Times via Drudge Report Sep 1 2002 6:32PM ET
[...] The German group is understood to be in talks with several online companies, including Amazon, the US-based internet retailer, over the sale of its Bol.com books business and its BeMusic subsidiary. Bankers have valued Bol.com and BeMusic, both part of Bertelsmann's DirectGroup division, at €2.1bn and €120m respectively.
Under the plans, Bertelsmann is also expected to withhold further funding from Napster, the controversial online music business accused of flouting copyright rules. [...] [ Source: Moreover - Book publishing news]

Bertelsmann Looking to Sell Online Units

5:15:12 PM

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Bertelsmann is reportedly looking to sell its on-line book sales units -- BOL and BN.com Call me clairvoyant. Amazon already runs on-line operations for Borders Group [NYSE: BGP]. Taking over e-commerce ops for yet another retailer wouldn't require much in additional investment, but I'm not sure how they'd handle actual warehousing and distribution for BOL. Expect Barnes & Noble to buy back BN.com.

Bertelsmann in talks with Amazon to sell internet bookseller BOL - report. Ananova Sep 1 2002 12:14PM ET
Bertelsmann AG is in talks with Amazon.com Inc to sell its loss-making internet bookseller BOL, manager magazine reported in its online edition, without citing sources.
It said Bertelsmann also wants to put its US internet bookseller Barnesandnoble.com up for sale, which it owns along with high street bookseller Barnes & Noble.
The decision comes as Bertelsmann has grown tired of the persistent losses at BOL, which amounted to 30 million euro last year, the magazine said.
BOL is the market leader in the Netherlands and Scandinavia and the number two in Germany.
Bertelsmann declined to comment.
© AFX News
[ Source: Moreover - Book publishing news]