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To: Jan Crawley who wrote (17986)	9/23/1998 11:49:00 AM
From: H James Morris	Respond to of 164684

<SEPTEMBER 23, 09:49 EDT Bertelsmann Profits Rise GUETERSLOH, Germany (AP) - Bertelsmann AG, Europe's biggest media company, reported a 10 percent rise in profits for its latest fiscal year, as proceeds from asset sales offset weakness in its book and music sales. Bertelsmann announced Wednesday its profits for the year ended June 30 rose to 1.12 billion marks ($660 million) from 1.02 billion marks a year earlier. Sales rose 2 percent to 22.94 billion marks ($13.5 billion) from 22.414 billion marks. Profits were boosted by sales of assets including a paper factory in Italy and printing plants in the United States, as well stronger profits from its Gruner & Jahr print media division. Gruner & Jahr publishes newspapers and magazines in Europe and the United States, including Family Circle, YM and McCall's. The gains were limited, however, by poor performances of its book clubs in Britain, France and Germany and weak music sales, especially in Asia. Overall sales were spread evenly among the company's three main markets: Germany, the United States and the rest of Europe. The U.S. share should rise in the current fiscal year after Bertelsmann's acquisition in July of Random House, the biggest U.S. book publisher. Bertelsmann is the world's third largest media conglomerate after Time Warner Inc. and Walt Disney Co.