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July 10 – July 17, 2008 Edition
Plans to Sell Off
PARIS/7/8/08–German media conglomerate Bertelsmann, is planning to sell its DirectGroup France division for more than 300 million euros ($470 million), according to a report by Reuters, which quoted French newspaper LeFigaro.
The sale, which includes the book chain France Loisirs, reportedly will begin in mid September and will be managed by Morgan Stanley, Reuters said. Bertelsmann has dismissed the reports by bothy LeFigaro and the French business daily Les Echos as “pure speculation.”
Les Echos said Amazon and Grupa Platena are among potential buyers.
Bertelsmann is an international media company encompassing television (RTL Group), book publishing (Random House), magazine publishing (Gruner + Jahr), music (BMG), media services (Arvato), and media clubs (Direct Group) in more than 50 countries.
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