August 31, 2017 / 7:19 AM / 4 months ago

Bertelsmann aims to close Penguin Random House deal in fourth quarter

FRANKFURT (Reuters) - German media group Bertelsmann aims to close its $1 billion deal to raise its stake in Penguin Random House to 75 percent in the fourth quarter, it said on Thursday.

Bertelsmann reported a 1.4 percent organic increase in first-half revenue to 8.13 billion euros ($9.67 billion), driven by broadcaster RTL Group, which reported results on Wednesday.

Operating earnings before interest, tax, depreciation and amortization (EBITDA) were flat at 1.1 billion euros.

Reporting by Georgina Prodhan; Editing by Maria Sheahan

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