German media group Bertelsmann SE (BRT.YY) said Thursday net
profit surged in the first quarter of the year, supported by all
core businesses and the acquisition of full ownership of music
rights company BMG.
MAIN FACTS:
-Net profit was 174 million euro ($222.7 million), up 61% from
EUR108 million in the first quarter of 2012.
-First quarter revenue was EUR3.63 billion, slightly lower than
the EUR3.66 billion in the year-earlier period.
-In addition to the acquisition of BMG at end-March, Bertelsmann
also acquired financial services provider Gothia.
-The company is also confident about completing the merger
between publishers Random House and Penguin early in the second
half after receiving regulatory approvals.
"These three transactions will result in considerable overall
growth for Bertelsmann in 2013." Bertelsmann chief executive Thomas
Rabe said.
-The successful placement of a stake in RTL Group (RTL.BT) is
giving Bertelsmann ample financial flexibility to reshape the
company, Chief Financial Officer Judith Hartmann added.
-On April 30, Bertelsmann said it raised gross proceeds of
EUR1.4 billion via the placement of 25.5 million shares in the RTL
Group, but remains a majority shareholder in RTL.
-Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500
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