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| Bertelsmann Chief Fired in Top-Level Clash by Jeremy at 6:50 am EDT, Jul 29, 2002 | |||
In the latest eruption of boardroom turmoil at a global media conglomerate, the chairman and chief executive of Bertelsmann of Germany, Thomas Middelhoff, was unexpectedly ousted today after clashing with the family that controls the company. Analyst: "[Middelhoff] was doing all the right things to turn a provincial, parochial German company into a global player. It's a big step backward for the company." Despite Bertelsmann's rapid growth and global ambitions, it remains a private company. The Mohn family owns 17% of the shares and controls 58% through the Bertelsmann Foundation. That last song was "Echoes of Adelphia", by Mohn, falling two notches this week. Keep your ears to the radio this week for the debut of Mohn's latest single, "It's My Money", an up-tempo rap duet with John from Rigas, Inc. Before that you heard, "Take This Job And Shove It", this week's "long distance" dedication, which goes out to John from Bernie, who says, "I hope we can still be friends." Stay tuned, because in the next half-hour, our industry experts will answer two important questions that weigh heavily on all our minds these days: What Does It All Mean for Britney?, and How Can I Hook Up With the Newly-Single J.Lo? Next we have the catchy pop tune that's inspired the latest dancefloor craze, "The CEO Shuffle". It climbs another notch this week on the charts. Here's BMG with "Differences of Opinion". | |||
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