Bertelsmann Doubles Profits in Q1

German media giant controls RTL Group, Random House.

CANNES - German media giant Bertelsmann doubled its net profit in the first quarter to $134 million (€94 million) while revenues inched up to $5.17 billion (€3.63 billion).

Bertelsmann, which controls leading European broadcaster RTL as well as publishing group Random House, also trimmed its debt burden.

As of March 31, 2011, the company was holding $2.5 billion (€1.74 billion) in net financial debt and total economic debt was down significantly at $6.6 billion (€4.9 billion).