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 head killed in Russia
- Bertelsmann continues China exit
Book news from the BBC
- Ugly tale of triumph over trials
- Businesses suffer as Thais protest
- Britons still stuck in Thai chaos
- Bath return for Chris Patten
- Girl writes new Famous Five book
Latest Comments
- Bertrams have been good to me as a debut author and new publisher, giving...
- Any well run independent bookshop will already have many channels of supply...
- imatree, I don't see Hachette supply being any more than a short term...
- Speaking very personally, it appears that once again the BA is not going...
- Help me register on line, I have just recieve a blackwell rewards card, and...
RSS
Subscriber Content