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Bertelsmann to sell UK book clubs
German media company Bertelsmann will sell off its book and music clubs in several regions, including the United Kingdom.
In a letter to employees obtained by the Associated Press, chief executive Hartmut Ostrowski said the company's board intends to explore sales of its Direct Group units in the UK, Australia, the Czech Republic, the Netherlands and Flemish-speaking Belgium, New Zealand, Poland, Russia, Slovakia and Ukraine.
The company confirmed that the letter had been distributed to employees. Bertelsmann will hold on to Direct Group's businesses in German and French-speaking regions as well as Italy, Portugal and Spain, concentrating on the larger markets in Europe, Ostrowski said.
On Friday, Bertelsmann said it would sell its North American book club business, including Columbia House and the Book-of-the-Month Club, to the privately held Najafi Companies.
Comments on this article
By Bookspan
All of their book club operations are losers and will eventually be sold off. Good luck to any sucker who buys them! I feel bad for your stupidity.18 Aug 08 13:21
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