DirectGroup Bertelsmann Acquires Time Inc.'S 50% Stake in Bookspan Partnership.Book Clubs to Be Integrated into U.S. Music and DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. Direct-to-Customer Business NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- DirectGroup Bertelsmann, the global direct-to-consumer division of Bertelsmann AG Bertelsmann AG German media company. Beginning as a religious printer and publisher in 1835, the company grew steadily over the next century. Though virtually destroyed by Allied bombing in 1945, it recovered quickly after World War II. , announced today that it has purchased from Time Inc. its 50 percent share of Bookspan, which was established in 2000 as a partnership between the two companies. Bookspan owns and operates 40 book clubs in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , including Doubleday Book Club, Literary Guild, Book-of-the-Month Club and special interest and lifestyle clubs. Terms of the transaction were not announced. Bookspan will be integrated into BMG BMG Bundesministerium für Gesundheit (Germand: Federal Ministry for Health) BMG Be My Girl BMG Blue Man Group BMG Bertelsmann Music Group BMG Be My Guest BMG Browning Machine Gun BMG Bulk Metallic Glass Columbia House, an operating unit operating unit A type of operating company that engages in transactions with outsiders and that is owned by another business. For example, in 1995 the stockholders of Capital Cities/ABC approved a $19 billion merger with the Walt Disney Company, whereupon of DirectGroup that markets music and DVDs direct to consumers in the United States and Canada through such market-leading brands as BMG Music Service and Columbia House DVD Club. Stuart Goldfarb, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BMG Columbia House, will lead the combined entity which will be the largest direct-to-consumer distributor of media products in the U.S. "This investment underscores our belief that direct marketing is a distribution channel with great potential for future growth because it meets consumers' desires for selection, service and value," said Ewald Walgenbach, Chief Executive Officer of DirectGroup Bertelsmann. "Combining Bookspan's book clubs with our successfully integrated music and DVD club business follows our proven strategy of creating new growth opportunities and operational efficiencies through the combination of complementary businesses." "This transaction reinforces Time Inc.'s commitment to the brands and projects that will be central to our long-term success," said Ann Moore, Chairman and Chief Executive Officer of Time Inc. "Bookspan is a good strategic fit for Bertelsmann and the synergies between Bookspan and DirectGroup's music and DVD club operations will benefit Bookspan, its customers and its suppliers." "Reaching consumers directly is recognized as essential to success in today's changing marketplace," said Stuart Goldfarb. "Our long history of direct-to-consumer expertise together with this investment will enable us to offer millions of members an even wider range of products. Combining such popular and respected brands as Doubleday Book Club, Book of the Month Club, Mystery Guild and Black Expressions with our existing music and DVD businesses creates exciting growth opportunities." The combined business will serve more than 20 million members in the U.S. through its various club catalogs and online and have offices in New York, Pennsylvania, Indiana, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and Toronto, Canada. About Bookspan Bookspan is a partnership between Bertelsmann AG and Time Inc. with two wholly-owned subsidiaries; Doubleday Entertainment[TM] and YES Solutions[TM]. Doubleday Entertainment has nearly 8 million members and includes almost 40 book clubs, such as Doubleday Book Club, Literary Guild, Book-of-the-Month Club and special interest and lifestyle clubs. YES Solutions provides operational and creative services Creative Services are a subsector of the creative industries, a part of the economy that creates wealth by offering creativity for hire to other businesses. Examples include:
B2B - business to business enterprises. About BMG Columbia House BMG Columbia House, Inc. is the largest direct-to-consumer distributor of music and movies in the U.S. The company's brands include BMG Music Service, Columbia House, yourmusic.com and CDNow. BMG Music Service is the leading direct-to-consumer distributor of CDs and offers over 14,000 titles provided by the four major music groups and over 100 independent record labels to its members. Columbia House is the largest direct marketer of DVDs in the United States and Canada with over 9,500 titles from which to choose provided by most of the major motion picture studios. BMG Columbia House, Inc. reaches millions of music and movie fans via club catalogs and online (www.bmgmusic.com and www.columbiahouse.com). Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has locations in Indianapolis and Terre Haute, Indiana Terre Haute (IPA: [ˌtɛ·ɹə ˈhoʊt]) is a city in Vigo County, Indiana near the state's western border with Illinois. , Duncan, South Carolina Duncan is a town in Spartanburg County, South Carolina, United States. The population was 2,870 at the 2000 census. Geography Duncan is located at (34.934983, -82.134801)GR1. and Toronto, Canada, and is part of DirectGroup Bertelsmann. About DirectGroup Bertelsmann DirectGroup Bertelsmann integrates Bertelsmann's global media direct-to-consumer businesses. Roughly 35 million consumer relationships secure DirectGroup's position among the largest enterprises in media commerce. The cornerstone of this success are the book and music clubs in 24 countries incorporating strong brands like France Loisirs, Book-of-the-Month, Der Club, Circulo de Lectores and BMG Music Service. Members have access to the clubs' product range via catalogs, internet or one of the more than 600 worldwide club shops. Since August 2002, Ewald Walgenbach has headed the unit. DirectGroup Bertelsmann is a division of German-based Bertelsmann AG. In fiscal year 2006, Direct Group made 2.7 billion euros in revenues with more than 13,000 employees. About Time Inc. Time Inc., a Time Warner company, is one of the largest content companies in the world. With approximately 130 magazines, it is the largest magazine publisher in the U.S. and U.K. Each month, one of out every two American adults reads a Time Inc. magazine, and one out of every 10 visits a company website (more than 19 million unique visitors). Time Inc.'s popular brands and successful franchises extend to online, television, cable VOD See video-on-demand. VoD - video on demand , satellite radio, mobile devices, events and branded products. |
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