GUTERSLOH, Germany: Europe's biggest media group, Bertelsmann, posted a net loss of €117 million ($159m £80m) in the first quarter, compared with profits of €60m in the same period last year. Sales fell 1.9% to €4.38bn.
Bertelsmann's Q1 figures are the result of a €114m charge related to Napster lawsuits in the US. Napster was an online music sharing site financed by Bertelsmann in 2000. It went offline in its original form a year later, amid much legal saber-rattling from music companies such as EMI and Sony.
Data sourced from Wall Street Journal Online; additional content by WARC staff