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DirectGroup Bertelsmann

Bertelsmann becomes sole owner of French media club France Loisirs - DirectGroup takes over Vivendi's 50 percent holding

Paris/Gütersloh (ots)

Effective July 1, DirectGroup Bertelsmann
has taken over the 50-percent share of the media club France Loisirs
that formerly belonged to the Vivendi Universal Publishing, part of
the French media conglomerate Vivendi. This means that Bertelsmann is
now the sole owner of the French book club. France Loisirs is the
market leader among French club businesses. By taking this step,
Bertelsmann is ensuring the continuity of its Club business in
France.
The French media club France Loisirs has been a 50:50 joint
venture between Bertelsmann and Vivendi Universal Publishing, for
which Bertelsmann has always provided the management, currently
headed by CEO Marc-Oliver Sommer. France Loisirs also does business
in Belgium (Belgique Loisirs), Switzerland (Suisse Loisirs) and in
Canada (Quebec Loisirs).
"The takeover underscores the central meaning Bertelsmann assigns
to media clubs in the worldwide distribution of media products. It is
hard to imagine a more valuable customer in media business than a
registered Club member. Our 100% takeover of France Loisirs is a
fantastic opportunity to continue strengthening our position in media
distribution. We will do so by resolutely interweaving the various
distribution paths, i.e. the Internet, stores and catalogs, and by
aligning the businesses to target audiences with specific interests.
The takeover of all shares in France Loisirs gives us free rein for
all management decisions," declares Dr. Klaus Eierhoff, DirectGroup
CEO and Bertelsmann Board Member.
With over 3.8 million members, France Loisirs Paris is not only
the market leader among media clubs in France. France Loisirs is also
the No. 2 DirectGroup Bertelsmann club business in terms of
membership, second only to Bookspan in the US (11 million). Each
year, the French media club sells some 26 million books. In FY 2000,
it generated revenues of 472.6m Eur. The club with its approximately
200 stores has been profitable for years, and is one of the leading
multi-channel providers in the distribution of media products.
In addition to selling books, music, videos and games, France
Loisirs offers added services such as magazine subscriptions, photo
processing, travel ("Voyages Loisirs"), financial services and an
event service. Exclusive Club premieres in the fiction segment
further enhance France Loisirs' appeal. One current example of this
is Nicci French's novel "Feu de Glace," which tops the charts at
500,000 copies sold.
As part of the negotiations with Vivendi surrounding the takeover
of the 50% share in France Loisirs, it was agreed to discontinue the
BOL service. In the medium term, an Internet-based bookfinder service
for France Loisirs members will be installed in France. Most BOL
employees will find continued employment with Vivendi or Bertelsmann
subsidiaries.
"France is one of Europe's most important book and media
distribution markets. France Loisirs is a powerful brand with great
popular appeal. Its nearly 5 million members make it the biggest
French-speaking book community. That is why we are extending our Club
business by expanding the services, launching a special-interest club
and modernizing the chain stores. Alongside the universal club
approach, we will be positioning France Loisirs as an offline- and
online-driven segment- and community-based vendor," emphasizes
Marc-Oliver Sommer, CEO of France Loisirs and DirectGroup Bertelsmann
Division Board Member in charge of Clubs/BOL in Western and Southern
Europe.
DirectGroup Bertelsmann:
DirectGroup Bertelsmann has been in charge of Bertelsmann AG's
direct-to-customer businesses since July 2000. DirectGroup comprises
the worldwide book and music clubs as well as the global e-commerce
businesses, and altogether represents a total of roughly 60 million
customers and members all over the world. Bertelsmann is the global
market leader among media clubs and, with BOL, CDNow and BN.com, is
the worldwide No.2 in terms of media e-commerce activities. The
DirectGroup is one of the three supporting pillars in Bertelsmann's
overall strategy, alongside Content and Services. Dr. Klaus Eierhoff
heads the Group, whose total revenues for fiscal year 2000/01 are
projected to be approximately DM 7bn. The division does business in
22 countries, has 15,000 employees, and contributes a great deal to
the internationality of the Bertelsmann Group.
About the France Loisirs media club:
France Loisirs is a wholly owned Bertelsmann subsidiary. The
company has nearly 5 million French-speaking members, and leads the
book and recreational products market in France, Belgium,
Switzerland, and Quebec. It is also the leading book club in France,
where one in 5 households is a member in the club (3.8 million
members).  France Loisirs is also the leading multi-channel
distributor in France (200 stores, a website etc.). Marc-Oliver
Sommer is CEO of the France Loisirs group, which employs a staff of
3,500 and had revenues of 472.6m EUR in 2000.
Rocco Thiede, Spokesman, DirectGroup Bertelsmann,
Tel.: +49 (0) 5241 / 80-4 24 02  E-Mail:  Rocco.Thiede@bertelsmann.de
Christine Mouchon, Head of Public Relations, France Loisirs S.A.R.L.,
Tel.: +33 (0) 1 / 45 68 62 13  E-Mail:  mouchon@france-loisirs.com

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  • 16.05.2001 – 10:17

    DirectGroup Bertelsmann has the following statement:

    Guetersloh, Germany (ots) - Isolated reports indicate that Bertelsmann intends to merge its US book clubs with the stock market-listed Internet bookseller Barnesandnoble.com. This statement is incorrect and has no basis in fact. The integration of BOL.com and Clubs to transform Bertelsmann's direct-to-customer businesses - with their 55 million customers - into a community-based venture refers exclusively to the ...