Bertelsmann May Do IPO?
Via Red Herring.
German media giant Bertelsmann, the name behind Random House publishing and other top properties, said Friday it’s prepared to go public after minority shareholder Groupe Bruxelles said it would exercise an option to ask for an IPO.
Bertelsmann owns some of the most prominent media names and also has a 50 percent stake in Sony BMG Music Entertainment, as well as a 75 percent stake in magazine publisher Gruner+Jahr.
The company used to own a stake in digital music service Napster, but sold the name and remaining assets to Roxio in November 2002 after a series of lawsuits by music companies sent Napster into bankruptcy.