BMG - MEDIA TYCOON MOHN DIES

MEDIA TYCOON MOHN DIES

German media tycoon REINHARD MOHN has died. He was 88.
Mohn was the fifth generation to head Bertelsmann AG - turning the company his family founded in 1835 into one of the world's largest media conglomerates.
He died on Saturday (03Oct09) after a long illness.
In March (09), Forbes magazine estimated Mohn and his family were worth $2.5 billion, making them the 261st wealthiest family in the world.
The company owns Random House, which publishes works from authors including Stephen King, John Grisham, Dan Brown and John Updike. It also controls RTL Group, Europe's largest broadcasting company, magazine publisher Gruner + Jahr, and media-marketing firm Direct Group. The company's other businesses have included Sony BMG and AOL Europe.
Mohn took over Bertelsmann in 1947 and served as CEO until 1981.
He is survived by his wife and six children. His widow, Liz, remains on the firm's supervisory board.