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October 7, 1999

Bertelsmann Buys Majority Stake in AG

By CBR Staff Writer

German media conglomerate Bertelsmann AG said yesterday it had bought a majority stake in internet retail search engine AG under its avowed strategy to assemble a portfolio of internet holdings. The firm didn’t disclose what it had paid for the 50.1% stake in which scours the web for the cheapest books, music products and videos. founded by two German students in 1997 claims 1500,000 users each month, drawing 75% of its revenue from the US.

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