Word: bertlesmann
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...stake back to AOL for a $7 billion profit. The deal helped land Middelhoff the CEO job in 1998. He profitably sold off a stake in the German pay-TV service Premiere World long before the company, owned by media tycoon Leo Kirch, went bust. Middelhoff also persuaded Bertlesmann to buy the giant U.S. publisher Random House for $1.2 billion. His contract, reportedly paying him j8 million a year, was extended for five years only last month. (His payout is expected to be suitably generous...
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