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July 6 – July 13, 2006 Edition
Bertelsmann Buys Back
Groupe Bruxelles Stake
To Avoid Public Offer
GUTERSLOSH, GERMANY/7/4/2006Bertelsmann, AG, in an effort to remain a private entity and avoid a possible public offering, has bought back Groupe Bruxelles Lamberts 25% stake in Bertelsmann for an estimated 4.5 billion euros ($5.8 billion).
Bertelsmann AG, which owns Random House in the USA, in turn is owned by Bertelsmann Stiftung, a private charitable foundation that invests in projects of its own conception. Funding for the foundation is provided primarily by income from the foundations majority ownership of Bertelsmann AG.
One of the world’s top media firms, Bertelsmann has publishing, music, and broadcasting operations in nearly 60 countries. It owns #1 trade book publisher Random House and 50% of #2 music firm Sony BMG Music Entertainment. It also has a 75% stake in magazine publisher Gruner + Jahr, owns 90% of RTL Group, Europe’s #1 TV broadcaster.
Groupe Bruxelles Lambert (GBL) is a holding company listed on the Brussels Stock Exchange since 15 October 1956.
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