Bertelsmann has managed to sell its North American book, DVD, and music club business, reports Publishers Weekly this morning. The new owner of many of my old colleagues is Najafi Companies, a private equity firm from Phoenix.
I don't know whether to congratulate those folks or to commiserate with them; I guess time will tell. But at least the waiting is over.
1 comment:
I think I prefer to at least have an American company owning the group than a foreign one, but as you say, only time will tell whether this will be of any benefit to the club businesses.
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