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Bertelsmann Eschews "Non-Core"
The giant German media conglomerate Bertelsmann will sell over 25 units to streamline operations and to raise cash for the acquisiton of mass media properties.
Observers believe that scientific journal publisher BertelsmannSpringer is marked for disposal, along with a grab-bag of electronic and other dotcom businesses like Trust, a hotel reservation service, Daum, a South Korean internet portal, Sonopress, an online media storage company, and Zomba, a music label.
Late breaking news: today, 6/25/02, Cendant Corporation has announced its acquisition of Trust.
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