Bertelsmann Doubles Profits in Q1

CANNES - German media giant Bertelsmann doubled its net profit in the first quarter to $134 million (?94 million) while revenues inched up to $5.17 billion (?3.63 billion).

Bertelsmann, which controls leading European broadcaster RTL as well as publishing group Random House, also trimmed its debt burden.

As of March 31, 2011, the company was holding $2.5 billion (?1.74 billion) in net financial debt and total economic debt was down significantly at $6.6 billion (?4.9 billion).

Source: http://feedproxy.google.com/~r/thr/business/~3/2Y1JXMK08Iw/bertelsmann-doubles-profits-q1-187987

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