Bertelsmann confirms 3Q net loss of 384 million EURO
Posted on 07/11/02 14:03 by Jan Willem                             
Bertelsmann confirms 3Q net loss of 384 million EURO

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

Reactions
Discuss this article with your fellow community members! We appreciate your valuable input, but please keep the reaction policy in mind and make sure your reaction is constructive.
By sspade100, Thu 7 Nov 2002 15:27
You could sit down with BMG and explain to them that they are throwing good money towards bad ideas like copy protection while they should be spending their money in figuring ways to lure customers to the legal aspects of d/l CD's. You could demonstrate to them in PERSON that take any of their "so called CD's that have the NEWEST PROTECTION" crack it in an hour or so and by noon have an unprotected CD on p2p networks and they would still continue to produce copy protected CD's. This is known as "The Law Of Constant Stupidity" so you are absolutely right that they will continue to show sharp decreases in revenue and one doesn't have to have an MBA to figure that one out.
By Bobsen, Thu 7 Nov 2002 16:50
Agreed. I mean where do they get these numbers anyway? Lets see, 50 million people age 16 times 5 cd's they could have purchased equals a loss of 15 billion Euros due to illegal copies times everyone born after the year 1905 and so on and so on.... What bullshit. Are they trying to get the sympthy vote?
By Sherrif, Thu 7 Nov 2002 17:52
Is it refreshing to know that german corporations can manipulate the same nebulous figures that all else do ???...I guess it just really means that greed has no boundaries,colour or creed..... All we need now is for a german "hillary" to pop outta the woodwork.... Shit..thats a scarey thought.........:7
By Guest, Thu 7 Nov 2002 21:48
Time to sack some of those overpaid leachy hangers on guys, get rid of those waste of space marketeers and PR people. Lets face it they're full of shit and spread lies and crap by manipulating a gulible and easily manipulated media.

Name: Email:



Your comment:

Receive notification on new comments?