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贝塔斯曼辟谣：不会卖掉c5
今天有消息称，第5台（Channel 5，以下简称C5）不会成为其母公司贝塔斯曼大规模战略性调整的一部分而被出售。随着这一德国媒体巨擎的首席执行官Thomas Middelhoff令人意想不到的在周末离职，其扩张计划严重受挫，有关英国最年轻的免费电视台将被出售的猜想就一直风生水起。
然而，来自贝塔斯曼和RTL的消息却粉碎了这一传言。RTL是贝塔斯曼集团下属的广播公司，它拥有C5的占主导地位的股份。
“这完全是胡说八道。贝塔斯曼为什么要卖掉一个目前运作如此良好，而且将在明年开始大有作为的公司呢？”一位贝塔斯曼的消息人士说道。
驳斥有关C5传言的简报是以贝塔斯曼的资产负债表为依据的，该公司在很大程度上依靠它的子公司RTL来作为资金流动的后盾。
根据贝塔斯曼最新的资料统计，该媒体巨擎的20%的收入来自于RTL。它从2001年7月到12月的收入为12.8亿英镑。
贝塔斯曼税前收入的40%也来自于RTL。税前收入是一种流行的分析一个公司利益率的方式。
RTL常被称作是贝塔斯曼的现金奶牛，去年C5损失了4900万英镑，但是它有望在2003年，也就是该台播出6年后，实现突破。
出售C5，将意味着RTL要放弃一项它为之投入了大量财力和管理时间的大工程。
全欧广播圈的业内人士说，贝塔斯曼不会违背RTL的首席执行官Didier Belens和他的董事会的意愿，而去贸然出售C5的。
分析家也说，C5的解散对双方公司都不会有任何战略上的意义。
设定该频道正变得越来越能赚钱，赢得越来越多的观众和广告份额，那么它是有可能走得更远的。
它填补了RTL的全欧洲部长职务的漏洞，因此它看起来不会解散，CSFB的一位分析家这样说到。
来自贝塔斯曼的消息说该公司已经发起了一次战略性的回顾，但这并不意味着要在位于考文特花园的Long Acre上的C5大厦上要插上待售的标志。
他们强调，集团将不会拆解它的耗资巨大的国际性扩张计划。
贝塔斯曼的的新任首席执行官Gunter Thielen是一位以善于削减成本讲求效率而久负盛名的经理人，正是他将公司的服务分支Avarto变成了一项很能赚钱的业务。
Thielen先生的有名之处就在于，他能从每一个公司里挤出钱来。他使得Arvato变成了一个非凡的赚钱机器，一位贝塔斯曼的消息人士说到。
来源：media.guardian.co.uk, 中华传媒网编辑Danny编译
Bertelsmann sources dismiss C5 sell-off rumours
Dan Milmo
Tuesday July 30, 2002
Channel 5
Channel 5 will not be sold as part of a massive strategic shake-up at its parent company, Bertelsmann, sources said today.
There had been fevered speculation that the UK's youngest free to air broadcaster would be sold as the German media giant reins in its expansion plans following the shock departure of its chief executive, Thomas Middelhoff, at the weekend.
However, sources at Bertelsmann and RTL, the group's broadcasting subsidiary that has a controlling stake in Channel 5, have dismissed the rumours.
"It's nonsense. Why would Bertelsmann sell something that is performing so well and is likely to start breaking even next year?" said one Bertelsmann source.
The briefings against the Channel 5 rumours are based on Bertelsmann's balance sheet, which relies stongly on its RTL subsidiary for its cash flow.RTL provided 20% of Bertelsmann's revenue in the media giant's most recent set of results. It had a turnover of ￡1.28bn from July 2001 to December 2001.
贝塔斯曼辟谣：不会卖掉c5
It also accounts for about 40% of Bertelsmann's earnings before interest, tax and amortisation - a popular means of analysing a company's profitability.
RTL is often referred to as Bertelsmann's "cash cow" and, while Channel 5 recorded a loss of ￡49m last year, it is expected to break even in 2003, six years after the station went on air.
The sale of Channel 5 would mean RTL abandoning a project that has taken up considerable amounts of money and management time.
Insiders at the pan-European broadcasting group said Bertelsmann was unlikely to order a sale against the wishes of Didier Belens, the RTL chief executive, and his board.
Analysts also said the disposal of Channel 5 would not make strategic sense for either company.
"Given that the channel is becoming more profitable and is gaining audience and advertising share, it has the opportunity to grow much further.
"It plugs the hole in RTL's pan-European portfolio so it seems unlikely it would be disposed of," said a note from analysts at CSFB.
Bertelsmann sources said a strategic review had been launched but this did not mean a "for sale" sign had been hoisted above the Channel 5 building in Long Acre, Covent Garden.
They stressed the group was not about to unravel its costly international expansion plan.
Gunter Thielen, Bertelsmann's new chief executive, is a renowned cost-cutter and efficent manager, who has turned the company's services arm, Avarto, into a highly profitable business.
"Mr Thielen is known for being able to squeeze money out of every company. He made Arvato into an outstanding, profitable business," said one Bertelsmann source.
贝塔斯曼辟谣：不会卖掉c5
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