Bertelsmann triples profit; Eyes purchases

MUMBAI: The German giant is roaring! Bertelsmann is eyeing acquisitions after its music and TV units helped triple half-year profits, more prominent being Bill Clinton's memoirs and top music acts. 

According to media reports, Bertelsmann chief executive Gunter Thielen said that he was ready to use his group's  $ 2bn (?1.36bn) war chest to invest in growth. Although Thielen declined to comment, it is said that Bertelsmann is looking for acquisitions including part of the British Broadcasting Corporation Worldwide.

But the media reports indicate that BBC has talked to the German group and its bigger US rivals Time Warner and Disney about a possible sale of its BBC Worldwide unit, which owns assets such as magazines and stakes in TV channels.

The world's fourth largest media group, after years of declining sales at the group, saw the revenues at its music unit BMG and television arm RTL Group rise strongly, while cost cuts across the group also helped earnings, says a company statement.

"Bertelsmann is steadily increasing its scope for investments to strengthen our core businesses and expand in new growth markets. We will pursue appropriate opportunities when they become available." Thielen is reported to have said in a statement.

"The BMG music division's recorded music triumphs and RTL Group's excellent business performance made an essential contribution to this rise in earnings," he added.

Strong sales and earnings growth at television broadcaster RTL and music unit BMG helped Bertelsmann, owned by the founder's family and a Belgian investor, to post operating earnings of  596m in the six months to June, up from  186m a year ago, the reports inform.

Former United States president Bill Clinton's My Life and music acts, including rapper Usher and singer Dido, helped sales increase 3.2 per cent to  $ 8.1bn after years of decline. Adjusted for currency effects and portfolio changes, they rose 4 per cent. Cost cuts across the group also helped.

It sold a science publishing unit in 2003 and has consolidated TV station M6 since February.

Bertelsmann's music division BMG, which last month merged with Japanese electronic giant Sony's Sony Music, had 74 million euros in earnings, up from a loss last year, as sales rose by 10 per cent despite the still weak global music market, say the reports.

Latest Reads
Comedy Central sets pace for ultimate celebration with over 100 hours of non-stop FRIENDS ultra marathon for its 6th birthday

Birthdays and New Years are great occasions to make resolutions for participating in marathons. However, this is one marathon which calls for hanging up your running shoes and grabbing the best spot in front of the telly with a bowl of munchies to keep you going because, for the first time ever in...

Television TV Channels English Entertainment
U Sports launches India's first ever Multi-Platform Multi-Game E-Sports Championship - U Cypher with MTV

The Indian E-Sports scenario is all set for a major revamp as U Sports, one of India’s biggest sports business companies in association with India’s No. 1 Youth Brand, MTV, announces the premiere of their all new month-long championship, U Cypher with MTV. Premiering today, on 19th January, the...

Television TV Channels Sports
TV ownership increased by 14% in 2017: IRS

After a gap of four years, the Indian Readership Survey (IRS), which documents the growth of the media industry, has been released for 2017. The survey methodology was criticised in 2014 and, therefore, was halted for an upgrade. This time, the sample size has been increased by 34 per cent to 3.2...

Television TV Channels Viewership
CNN-News18 launches 'If I Were FM Challenge'

As part of its Budget programming, CNN-News18 is launching the ‘If I were FM Challenge’. The campaign will encourage viewers to contribute their suggestions for the Union Budget. The channel will run an extensive on-air campaign to promote the same.

Television TV Channels News Broadcasting
BBC World News to Broadcast 'China's Chat Girls'

Lele Tao is an internet superstar in China’s $3 billion dollar ‘live streaming’ industry. With more than a million fans she can earn thousands of dollars a day singing, dancing, flirting, or often just chatting into her webcam. Fans buy her virtual gifts which she redeems for cash. In return she...

Television TV Channels News Broadcasting
PKL season 6 and 7 dates announced

The second most watched domestic league in India, Vivo Pro Kabaddi League owned by Mashal Sports and Star India announced the dates of sixth and seventh season.

Television TV Channels Sports
Star Bharat leads Hindi GEC (U+R) in week 2 of BARC ratings

MUMBAI: Star Bharat emerged as the leader in the Hindi GEC (U+R) genre dethroning Zee Anmol according to Broadcast Audience Research Council (BARC) all India data for week 2 of 2018.

Television TV Channels Viewership
BARC week 2: Aaj Tak leads Hindi News in all three markets

MUMBAI: Republic TV continues its leading streak in the second week of the year as well in BARC All India ratings. News Nation stays in the top five chart in week 2 of 2018 in Hindi News Rural market. Aaj Tak tops the chart again in Hindi News Urban market.

Television TV Channels Viewership
Dsport acquires India rights of tri-nation tournament in SL

Discovery’s sports channel Dsport has acquired the exclusive India broadcast rights of Nidahas Trophy 2018, a tri-nation international T20 tournament involving India, Sri Lanka and Bangladesh. The transaction was facilitated by Lagardère Sports, the global marketing consultant of Sri Lanka Cricket...

Television TV Channels Sports

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories