Bertelsmann Has $8 Billion For Acquisitions, Including Digital

Bertelsmann will have a $8 billion warchest with which to make digital (and other kinds of) media acquisitions through to 2010. Announcing annual figures, Europe’s largest media company said profit more than doubled in 2006. Now it is dropping a self-imposed ban on acquisitions (introduced to cut debt resulting from the buy-back of a 25 percent stake), and is focused on buying itself success in the new media ecosystem. The cash will be free from next year, if debt falls as expected.
CFO Thomas Rabe: