Thomas Rabe speaks five languages, holds a doctorate in economics, and cycles, runs or rows more than 60 miles a week. In his 20s, he managed hundreds of millions of deutsche marks in East German assets after the Berlin Wall fell. In his 30s he oversaw the finances of Europe’s largest TV broadcaster. As he approaches age 50, Rabe works in an office next to his boss and lives in a house next to his boss’s mother.
Amazon.com Inc.’s sales contracts with some of the world’s biggest publishers, Simon & Schuster and HarperCollins, are next up for renewal, signaling that skirmishes over e-book pricing are set to spread.
Bertelsmann SE, Europe’s largest media company, said it plans to spend as much as 3 billion euros ($3.9 billion) on acquisitions over the next three years as it seeks to grow and limit its reliance on Europe.
Bertelsmann SE plans to lift group profit to more than 1 billion euros ($1.4 billion) over two years as it seeks to fuel growth with investments in education and media content, Chief Executive Officer Thomas Rabe said.