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Sunday, September 01, 2002
FT Confirms Bertelsmann Report
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]
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This Page was last updated: 11/28/2002; 6:39:07 PM
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