Word: gutersloh
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Dates: during 2000-2009
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...family's privately held, worldwide media conglomerate, based in GUTERSLOH, GERMANY, includes publisher Random House, a majority stake in TV network RTL and the BMG music group...
...doctoral economics thesis in the mid-'80s on the failure of one of Germany's first online businesses. And once he arrived at Bertelsmann headquarters, he didn't wait long before pushing the stodgy company to break out of the cow pastures that envelop its local borough of Gutersloh (population 78,414). In 1995, shortly after he was named head of corporate strategy, Middelhoff persuaded the tightfisted Bertelsmann board to gamble $50 million on a 5% stake in a nascent Internet company called America Online. It was a masterstroke. The $50 million AOL investment turned into $1.8 billion and propelled...
...began to introduce Middelhoff around. Although he may have that steely look and the precision dress of a Frankfurt banker, his new media friends discovered Middelhoff to be a man of surprising charm and easy humor. That down-homeness may reflect his roots. He lives on a farm outside Gutersloh with his wife, five children, 45 cows and sheep, and a duck pond. "Thomas can defuse the tension in any room," says Aydin Caginalp, Bertelsmann's U.S. attorney for 18 years...
...each other, and it just clicked," says Andreas Schmidt, president of the Bertelsmann E Commerce Group, who orchestrated the partnership. That day Schmidt got on the phone to Napster CEO Hank Barry and began eight weeks of intense transcontinental negotiations, from San Francisco to Miami, New York City to Gutersloh...
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