German media giant Bertelsmann is on the lookout for acquisitions after amassing a €2 billion ($2.4bn; £1.3bn) warchest.
The globe's number five media firm by revenues said the cash would be used for purchases around the world over the next three years.
The news came as Bertelsmann posted 2003 net profits of €154 million, down from €928m in 2002. Sales slipped by 8.3% to €16.8bn, but EBITA (earnings before interest, tax, and amortization) rose 20% to €1.1bn.
Data sourced from: multiple sources; additional content by WARC staff