Reality TV World People News   Ratings News   Scheduling News   Application News   Spoiler News
Show Updates   Features & Interviews   Image Gallery   Message Boards   Shows Listing

HOME > OTHER ENTERTAINMENT NEWS > Print Media NEWS

Bertelsmann AG buys Book-of-the-Month Club interest from Time Inc.


UPI News Service, 04/10/2007 

Germany's Bertelsmann AG said Tuesday it bought Time Inc.'s interest in Bookspan, their joint venture that includes the Book-of-the-Month Club.

ADVERTISEMENT
Bertelsmann's DirectGroup subsidiary paid about $150 million for Time's 50 percent share, The Wall Street Journal reported.

The deal makes Bertelsmann the only major U.S. operator of book, music and DVD clubs. Bertelsmann bought the Columbia House music and DVD clubs for about $400 million in 2005.

Bookspan will be integrated into BMG Columbia House, the largest U.S. direct-to-consumer distributor of music and movies. BMG Columbia House Chief Executive Stuart Goldfarb will lead the combined entity, Bertelsmann said.

Bookspan -- with 32 book clubs, including the Doubleday Book Club, Literary Guild and One Spirit -- is the largest direct marketer of book club memberships in North America, with more than 7.9 million members and annual direct mailings of more than 270 million pieces.


DISCUSS AND COMMENT ON THIS STORY
Reality TV World now offers Facebook Comments on our stories. To post a comment, log into Facebook and then 'Add' your comment. To report spam or abuse, click the 'X' in the upper right corner of the comment box.


Get more Reality TV World! Follow us on Twitter, like us on Facebook or add our RSS feed.


Copyright 2007 by United Press International








Take Our User Survey





Page generated in 0.043300867080688 seconds
About Reality TV World   •   Advertise on Reality TV World  •   Contact Reality TV World  •   Privacy Policy   •   RSS Feed