Brussels, 24/08/2001 (Agence Europe) - On Thursday, the European Commission authorised the proposed joint venture between the German media company, Bertelsmann AG, and Arnoldo Mondadori Editore SpA (Italy), within which the two companies will combine their respective Spanish-language book publishing and distribution activities in Spain and in Spanish-speaking Latin America. The joint venture, in which both companies will each hold half the share capital, will comprise the existing Spanish subsidiary of Mondadori, Grijalbo Mondadori SA, whose new name will be Grupo Editorial Random House Mondadori Holding SL, whereas Bertelsmann will contribute its Spanish-language book publishing and distribution activities. The operation concerns hardcover, softcover and paperback editions, which differ from each other in terms not only of format and quality of cover, but also in price and timing of publications. Of the three categories, the new joint venture company will only have a significant market share in paperbacks in Spain, where it will, nonetheless, be confronted with several important competitors, such as Editorial Planeta and the Anaya Group, as well as many other smaller publishers.
The Bertelsmann group is active internationally, mainly in book and record publishing and private television. Mondadori, which forms part of the Italian Fininvest Group of companies, is also active in book publishing and television.