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Bertelsmann aims to close Penguin Random House deal in fourth quarter
August 31, 2017 / 7:22 AM / 21 days ago

Bertelsmann aims to close Penguin Random House deal in fourth quarter

Pencils with the logo of German media group Bertelsmann CEO are seen at the annual news conference Berlin, Germany, March 22, 2016. REUTERS/Fabrizio Bensch/File Photo

FRANKFURT (Reuters) - German media group Bertelsmann aims to close its $1 billion deal to raise its stake in Penguin Random House to 75 percent in the fourth quarter, it said on Thursday.

Bertelsmann reported a 1.4 percent organic increase in first-half revenue to 8.13 billion euros ($9.67 billion), driven by broadcaster RTL Group, which reported results on Wednesday.

Operating earnings before interest, tax, depreciation and amortization (EBITDA) were flat at 1.1 billion euros.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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