Círculo announces Partnership with Grupo Planeta

Press Release

Strategic alliance between Bertelsmann and Grupo Planeta to develop Círculo de Lectores in Spain

Grupo Planeta becomes a 50-percent shareholder of the most important Spanish speaking book club

Barcelona, 14 April 2010 – Bertelsmann, through its DirectGroup division, and Grupo Planeta, via its publishing arm, have signed an agreement to develop Círculo de Lectores, the media club founded in 1962 which – with more than one million members – is Spain’s foremost reader’s network.

Under the agreement, Grupo Planeta becomes a 50-percent shareholder of Círculo de Lectores. This alliance combines the experience of a key cultural player in the Spanish literary world during the last 50 years with the expertise of the leading publishing and multimedia group in the Spanish-speaking market.

The strategic agreement between the two leading European publishing and media companies aims to strengthen Círculo de Lectores’ market position in times of new challenges related to technical devices, and to further improve its product offering for customers.

Círculo de Lectores will continue to develop its extensive and prestigious catalogue, a selection of the world’s finest novelties, and broaden it with Planeta’s backlist and new titles. The offering will be rounded off with other products, leisure services and cultural entertainment.

The network of service points for the club’s members will be expanded by additional Círculo Corners, currently available in Bertrand bookstores, which will be included in the Casa del Libro stores in all main cities in Spain.

The Galaxia Gutenberg publishing house, winner of the national Best Publishing Work award and a fundamental element in the club’s development, will remain associated with Círculo de Lectores.

The new agreement, which is subject to the approval of the relevant authorities, reinforces Círculo de Lectores’s position as the leading reading club in Spain and develops its growth potential in view of the challenges ahead for the cultural industry in the 21st century.