Fresh cash for Bertelsmann.(selling share in AOL Europe to AOL Time Warner)(Brief Article)(Statistical Data Included)

Screen Digest, January, 2002

German media giant Bertelsmann is about to exercise an option to sell AOL Time Warner its 49.5 per cent share in AOL Europe for $6.75bn. AOL has reportedly decided to pay up in cash: $5.25bn this month (January) and $1.5bn in July.

Bertelsmann (Germany; +49/40 4141 0922; www.bertelsmann.de) is expected to spend much of this money. It announced that it is considering acquisitions in the American magazine market and is also interested in expanding its European TV interests. Accordingly, Bertelsmann is reportedly in talks to buy TV production firm Endemol, which was acquired by Spain's Telefonica for around Euro 5bn ($4.4bn) in 2000. It is also interested in buying the remaining 80 per cent of...