RUMOR MILL
Thursday, March 23, 2000
Bertelsmann Denies
Universal Rumors
Propaganda From The Germans?
Now That’s A New One!
Now That’s A New One!
Responding to recent German radio reports, media group Bertelsmann denied speculation that it was offering about 10 billion marks (approximately $4.9 billion) to acquire Universal Music. The reports also claimed that Bertelsmann was interested in Universal Film Studios in Hollywood.
Helping fuel the rumor was Bertelsmann’s recent sale of its 50 percent stake in AOL Europe, which would provide plenty of capital for a purchase, and the media group’s well-publicized desire to expand its music business.
"Vee deny zat," Bertelsmann spokesman Markus Payer said of the Universal offer. "But ze misconception is understandable. Vat vee haff been talking about vas universal domination, not domination of Universal."
