Bertelsmann: Annual Forecast Slightly Lowered
Bertelsmann, Europe's largest media conglomerate, is slightly lowering its annual forecast due to the costs of new business ventures and uncertain economic conditions.
Bertelsmann announced on Wednesday that this year's operating result will not reach the previous year's level, as previously expected, but will be slightly below it. In the first half of the year, the operating result fell by two percent to 737 million euros.
By contrast, revenues increased by two percent to 7.2 billion euros. Bertelsmann owns, among others, the RTL television group and the Gruner + Jahr publishing house with titles such as Stern and the Financial Times Deutschland. (SDA)
