Book2Book Thursday 08 May 2014
The publishing merger of Bertelsmann's Random House with Penguin and the full takeover of music rights group BMG help the group to strong first quarter results.German media giant Bertelsmann posted near double digit growth in the first quarter of 2014 as revenues from continuing operations rose 8.5 percent to $5.4 billion (€3.9 billion) driven by a series of high-profile acquisitions.
The mega-merger last year between Penguin and Bertelsmann's Random House publishing business, along with Bertelsmann's buyout of KKR's stake in music rights group BMG helped boost sales as did smaller deals including the takeover of Dutch electronic dance music publisher Talpa Music.
hollywoodreporter.com
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