Bertelsmann says it will spend up to €1.3bn a year until 2020 on acquisitions, as Europe’s largest media group looks to accelerate its shift from traditional publishing to digital video and online education.
Thomas Rabe, chief executive, told the Financial Times that the company would increase its stake in Penguin Random House, if co-owner Pearson exercises its option to sell its 47 per cent share in the company next year.
Bertelsmann would also build out the digital businesses of RTL, the European broadcaster it controls, and of Gruner + Jahr, publisher of magazines such as Stern and Geo. Mr Rabe also said it would raise its stakes in e-learning companies Hotchalk and Udacity over the longer term.
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