News
Bertelsmann's Ostrowski plans expansion
Hartmut Ostrowski's desire to set out a new growth strategy for Bertelsmann is turning into a battle between the expansionist ambitions of its new management team and the constraining financial legacy inherited from his predecessors, reports the FT.
Since becoming chief executive of the diverse German media group in January, the former head of its Arvato services division has set about clearing out under-performing corners of the company. The once sacrosanct Direct Group book clubs business is being dismembered, and Bertelsmann's 50 per cent share in its Sony BMG recorded music joint venture has been sold to Sony for €900m ($1.32bn).
Such moves were necessary not just to trim Bertelsmann down to its better-performing businesses, but to put its debt load behind it and find new funds for expansion.
See Also
Related
- New fiction buyer for BCA
- Ostrowski steps up at Bertelsmann
- Olson out, Dohle in at Random House
- Bertelsmann continues China exit
- Bertelsmann head killed in Russia
Book news from the BBC
- Learning Welsh at home - in Japan
- Ugly tale of triumph over trials
- Businesses suffer as Thais protest
- Britons still stuck in Thai chaos
- Bath return for Chris Patten
Latest Comments
- It would seem sensible for the Bookseller to report on the Administration...
- The trouble is THE BOOKSELLER is not saying anything about the possible...
- Hey Jo....I'm beginning to like you...even an 'erotic poet' has a heart (...
- So, what Ray? The Bookseller and all media shouldn't bother reporting about...
- Come on Jo for **** sake! Anyone working in retail must be fully aware of...
RSS
Subscriber Content