Yesterday we reported that BMG (Bertelsmann Media Group) is planning to copy protect every CD they sell. Today the company has announced it has a lost 384 million EUROs. Of course these two subjects are not related, but we wouldn't be suprised if in the upcoming quarters the company would make even huger losses.
German media giant Bertelsmann AG Thursday confirmed third-quarter and nine-month figures released late Wednesday by its shareholder, Groupe Bruxelles Lambert SA . The Guetersloh-based media firm said sales reached EUR4.161 million in the third quarter and EUR12.991 million in the first nine months of the year. |
The company also confirmed it reported a net loss of EUR384 million in the third quarter, reducing its nine-month profit to EUR1.23 billion. Bertelsmann didn't provide comparative figures for sales and earnings in the respective periods of last year.
Its profits came largely from one-time gains of about EUR2.8 billion from the sale of shares in AOL Europe. These gains were partially offset by a EUR1.1 billion provision related to the company's planned takeover of U.S. record label company Zomba Music Group.
Source: Yahoo.com
