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Read this: Channel Five owner sees profits plummet |Business |

Summary: The advertising slump has hit half-year profits at Germany's Bertelsmann, whose media empire spans television, magazines and book publishing. Bertelsmann, which has been controlled by the Mohn family for the past century, said cost-cutting measures had cushioned the impact of the global downturn on its businesses, although it still expects revenues and operating profits to fall over the whole year. The media company is taking 2,500 austerity measures to save more than 900m 792m across the group this year. - link

Channel Five owner sees profits plummet …

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