Bertelsmann restructures to meet Internet challenges

Article Abstract:

Bertelsmann AG has unveiled a restructuring plan aimed at making the firm more competitive in the Internet. The move follows the merger of America Online and Time Warner. Under the restructuring arrangement, the firm's book business will be subsumed under the label of Random House and will be US-based. In addition, profitable divisions will be spinned off to boost funding for Berstelmann's Internet venture.

Book Publishing, Book Publishers, Publishing industry

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German Post sets IPO date, faces EU investigation

Article Abstract:

Deutsche Post will go public on Nov 6, 2000. The initial public offering (IPO) is expected to generate $4.8 billion for the German government. However, the IPO is being threatened by an investigation being conducted by the European Union (EU). EU investigators are probing allegations that the German postal service misused its dominant market position, cross- subsidized parcel operation and used mail monopoly money to acquire foreign companies.

Postal Service, Public Mail & Express Services

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Bertelsmann combines book clubs, BOL.com

Article Abstract:

Bertelsmann AG has combined its book clubs with its online book and music division BOL.com and put under Guetersloh, Germany-based Bertelsmann Direct Group. According to Gerd Koslowski, Direct Group's VP for corporate communication, the strategic change was in response to the changing behavior of the company's customers. However, German media have interpreted the reorganization as a pullback, with some saying that up to 25% of BOL's 200 employees are being laid off.

On-Line Information Services, Videotex & Teletext Svcs NEC, Internet services, Online information services

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