The company was granted approval to establish a printing company in
Shanghai through a planned joint venture with two mainland printing and
packaging companies.
It will invest US$29 million for a 50 per cent stake in the joint venture, which will handle the printing of books, magazines, newspapers and packing materials.
Although the printing venture is seen largely as a support operation for
its book club network, industry sources believe the latest development
would bring Bertelsmann closer to launching its other media interests in
China.
Bertelsmann chairman and chief executive Thomas Middelhoff confirmed that the group saw entry into China's television market as the next step of its mainland strategy.
It scored a small success on the television front when Shanghai Oriental TV snapped up broadcast rights for one of its television programmes.
In 1997, Bertelsmann established its book club, which now has 1.5 million members in China and followed up with the launch of a website and its e-commerce business in 2000.
