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FT Confirms Bertelsmann Report (#490)
Posted: 9/1/2002; 11:56 PM by Terry Frazier
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Bertelsmann said to be pulling out of both on-line books and music.

AWAY FROM INTERNET: Bertelsmann to drop online books and music; German media group signals U-turn in strategy. Financial Times via Drudge Report Sep 1 2002 6:32PM ET
[...] The German group is understood to be in talks with several online companies, including Amazon, the US-based internet retailer, over the sale of its Bol.com books business and its BeMusic subsidiary. Bankers have valued Bol.com and BeMusic, both part of Bertelsmann's DirectGroup division, at 2.1bn and 120m respectively.
Under the plans, Bertelsmann is also expected to withhold further funding from Napster, the controversial online music business accused of flouting copyright rules. [...] [ Source: Moreover - Book publishing news]

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