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October 15-31, 2004 Edition
Bertelsmann CEO Says
His Media Group Still
Seeks U.S. AcquisitionFRANKFURT/10/08/2004In a Reuters report by Boris Groendahl, the CEO of the worlds fourth-largest media group said it would acquire another book publisher in the United States or Britain if the right offer were made.
CEO Gunter Thielen said in the interview that Bertelsmann, which owns Random House, is still looking for acquisition targets with revenues of up to $616 million. Acquisition talks between Bertlesmann and Time Warner stalled last year, but
Thielen told Reuters, If an opportunity arises in the United States or in Great Britain, then we are interested to buy.
The U.S. accounts for more than 40 percent of the global media market. Thielen talked with Reuters at a Frankfurt Book Fair party thrown by Random House, the worlds biggest publisher, and Bertelsmanns DirectGroup.