Bertelsmann's Schmidt Exits in E-Commerce Shake-Up
The head of Bertelsmann’s e-commerce arm became the latest victim of the German media giant’s restructuring on Wednesday when the group announced a major shake-up of its music distribution interests. Bertelsmann said Andreas Schmidt was leaving the company as the German-based group unveiled plans to fold its e-commerce arm into BeMusic, a new unit that will house its record club, music retailer and other music distribution businesses. Guetersloh, Germany-based Bertelsmann is sprucing up its sprawling media empire ahead of an expected stock market flotation in the next two to three years, and has been reviewing its business for possible cost-saving… Read more »
