Bertelsmann, Germany’s largest media company, today announced third quarter losses of E384 million but has expressed confidence that business will pick up in the last few months of the year.
“With a mixture of consolidatiion and renewal, Bertelsmann is moving forward even in difficult economic times like these,” said CEO Gunter Thielen in a statement.
Bertelsmann is looking for buyers for its online book retailer BOL and the publisher BertelsmannSpringer but Thielen has denied that he is under pressure to sell Channel 5 or the firm’s US magazine businesses (see Bertelsmann To Consolidate, Not Sell, Says Chief).