2008-05-08 10:51:11 -

FRANKFURT, Germany (AP) - Bertelsmann AG, the owner of book publisher Random House, said Thursday that its first-quarter loss narrowed significantly from last year as the higher euro and a drop in sales at its book and music clubs crimped earnings.
The Guetersloh-based company lost ¤3 million (US$4.6 million) in the January-March period, compared with

a wider loss of ¤117 million a year earlier.
Its sales dipped slightly to ¤4.2 billion (US$6.5 billion) in the quarter, compared with nearly ¤4.4 billion a year earlier.
Besides Random House, privately held Bertelsmann's interests include music business BMG, which comprises its 50 percent holding in the Sony BMG Music Entertainment joint venture, and radio and television _ including broadcaster RTL, magazines and media services.
Though Bertelsmann is headquartered in Guetersloh, most of its 97,000 employees are scattered over its divisions. The company is controlled by the Mohn family, directly and through a foundation.


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