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London (pte057/03.05.2005/18:15) - The German group Bertelsmann http://www.bertelsmann.de , the world's fourth largest media group, posted a first-quarter intake of £23 million, a 6 per cent increase.
Due to its Joint Venture record label Sony BMG, a merger that took place in August 2004, the profits were kept down. Bertelsmann, the group behind Pop Idol, last year paid restructuring charges worth £20.3 million.
Sony BMG, now the world's second largest record label, handles stars such as Anastacia, Beyonce Knowles and Dido.
Bertelsmann is the owner of Gruner + Jahr and Random House, the largest book publisher in the US, with publications such as The Da Vinci Code and Bill Clinton's memoirs to its name.
It also owns Europe's biggest broadcaster, RTL. Bertelsmann and Random House recorded an operating profit of £87.5 million in the first quarter, just 2 per cent more than last year.
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