Bertelsmann Earnings Up, Plans To Acquire EMI Assets

Bertelsmann Earnings Up, Plans To Acquire EMI Assets

Bertelsmann Earnings Up, Plans To Acquire EMI Assets
German media company Bertelsmann reported a net profit of $443.95 million for the six-month period ending June 30, up 31.2 percent compared to the year-ago period, and revenues were $9.6 billion, up from $9.1 billion. However, the company's division that includes music company BMG Rights Management lost $54 million for the period. Additionally, during a conference call with investors, Bertelsmann CEO Thomas Rabe confirmed the company's interest in acquiring the EMI Music assets that will have to be divested by Universal Music Group in order for UMG to gain approval from the European Commission for its proposed acquisition of EMI, according to Billboard.biz. (8/31)

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